July 18, 2011
That was the NYT’s line in a piece on how best to deal with the deficit. While the piece briefly refers to some of the key research papers on the issue, it would have been worth noting that the U.S. already ranks at the bottom among wealthy countries in the tax share of GDP. Since other countries do manage to sustain healthy economies, with several enjoying comparable or better levels of productivity, it might suggest that raising taxes would not derail the U.S. economy. This fact would have been a useful point to include in this “it’s so complicated” piece.
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