16 Apr '10 13:55>
Originally posted by telerionHard to believe, but here I am at 46, feeling like a Rip Van Winkle dinosaur. Although I didn't fall asleep, I'm rubbing my eyes in astonishment at the landscape.
He very much acknowledges that both in the interview and elsewhere. Gale's opinion is that cutting spending on the big programs is going to be politically infeasible so we have to turn to the only other choice available: increase taxes.
My opinion: They should raise taxes. Econ 101: demand is downward sloping. Raise the price of government services ( ...[text shortened]... giving ourselves a free lunch (*shoots a wicked glare at all the Baby Boomers in the room).
Raise the prices on government services?! Am I the only one who is puking in my mouth over this idea, over the very concept? Can anyone name even ONE service the government runs which could be considered a model of business acumen, efficiency-minded or otherwise? Government has a proven record of jacking up literally everything we allow its mitts on, but we're going to allow it to raise its prices in the form of higher taxes?
As I see it, 1984 was off by only a few years...