Tuesday, April 26, 2011

Cato Featured Oligarch Blames US Deficit on a Failure to Raise Taxes

George Soros, who is a featured speaker at an upcoming Cato Institute event, told the Economic Times of India that:
Basically, this has been a refusal to increase taxes because that would be reinforcing the government and as a result you continue to have a very big budget deficit and big pressure on wages and earnings.

1 comment:

  1. Lowering taxes by President Bush did in fact cause the deficit to balloon. I think we need to cut government spending across the board, no exceptions by 20% immediately, and raise taxes to at least the levels before Bush cut them. To fix this problem will require both and anyone who doesn't think so is part of the problem, not the solution. Our debt problem will require major sacrifice by everyone and it should - yes even by the rich people.

    The first really big deficit spender of course was Ronnie Raygun - after cryig about Jimuh Carters "big" deficits, he got into office and deficits exploded. They have been exploding ever since except for a brief spell under Clinton.

    It is my opine that the US would have been in a depression since Ronnie had it not been for the goobermint spending hundreds of billions each year that it did not have. I benefited from the drunken spending binge via a defense/space-program job under Ronnie Raygun.

    The party is now over and it's time for the hangover and for a nation of idiots to grow up.