deficits and future taxes
June 12, 2009 at 08:29 AM EDT
[Skip to the end] (email exchange) The latest noise is that today’s deficits mean higher taxes later. Answer: 1. Taxes function to reduce aggregate demand. 2. A tax hike is never in order with a weak economy, no matter how high the deficit or how high the interest payments may be. 3. Future tax increases would [...]
