The Pragmatic Capitalist posted a very interesting article about Paul Volcker`s recent comments about tax hikes:
I have generally been a huge fan of Paul Volcker’s. Few men in government have been in favor of taking our medicine when we had to, but Volcker has always been willing to bite the bullet and take some pain in order to make some gains. His rules proposals on regulation and his hard monetary stance in the 70’s are two of the greatest contributions to this economy in the last 30 years. Unfortunately, his latest message is one of potential disaster. Just when the U.S. consumer is beginning to show brief signs of strength Volcker brings up the dreaded D word followed by the even more dreaded T word. Those of course are deficits and taxes. Speaking to the New York Historical Society, Volcker warned of potential tax hikes coming down the line. In reference to a question on the budget deficit Mr. Volcker said:
“(...)we should raise taxes.”
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