Back in early 2007 Mark Schmitt wrote an interesting piece in Washington Monthly suggesting that America might be approaching a time when talking about tax hikes was not an automatic loser. He pointed out the financial crises that are likely to come if the government doesn’t increase revenues, and then discussed various ways that a bipartisan consensus could emerge. In the midst of the current financial crisis, with government spending suddenly increasing by a trillion dollars, Schmitt’s argument is even more powerful. Check it out here.
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