Source: The Hill
by Sadek Wahba
“In the midst of an angry, polarized election cycle, let us pause for a moment to sound an objective, rational note: No matter who wins the presidency in 2024, U.S. taxes will have to increase. This is the inevitable conclusion of a clear-sighted look at the U.S. budget deficit, the debt-to-GDP ratio and the current and prospective status of entitlements and other major budget line items. The prediction is not aligned with the promises made by either candidate. … anyone who occupies the White House in 2025, and any party that controls either house of Congress, will have to grapple with an increasingly intractable set of fiscal conditions.” [editor’s note: Taxes NEVER “have to” go up. The state is free to cut spending as much as it decides to – TLK] (10/29/24)
https://thehill.com/opinion/finance/4957333-us-tax-increases-inevitable/