Inside America’s Tax Battle
America’s recent presidential election made clear that an increase in revenues will be part of the country’s long-run deficit-reduction plan. But bipartisan agreement on the need for a “balanced” approach that includes revenue increases and spending cuts does not extend to a hike in tax rates for the top income groups.
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BERKELEY – America’s recent presidential election answered the question of whether an increase in revenues will be part of the country’s long-run deficit-reduction plan. The answer is yes: there is now bipartisan agreement on the need for a “balanced” approach that includes revenue increases and spending cuts.