Harvey Golub in the Wall Street Journal (Via The TaxProf):
Before you "ask" for more tax money from me and others, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely. Then you'll need less of my money.
Spend less, spend smarter, then we'll talk taxes -- sounds about right. But Daniel Shaviro has a different view: while taxing the risk is futile and useless in solving the budget crisis, we should do it anyway:
. With an aging population and retirement programs that serve important social purposes (and also are baked in to people's behavior and expectations), raising taxes just at the top will not be sufficient. But raising them at the top as part of the short-term budgetary response (if anything happens from the Gang of Twelve deliberations) would certainly be a start.
A pointless start, but a start nonetheless!
More from Peter Pappas.
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