Transcript
12:31 [Comment From Zachary]
I believe that increases in tax rates now or in the near future will undo much of what the president hopes to accomplish with the stimulus bill. Is there a way to increase long term tax revenue without raising individual or corporate tax rates?
12:32 Len Burman:
Zachary, that is a good point. Many skeptics of economic stimulus think that future tax increases or spending cuts will undo much of the effect of the stimulus. I think that's probably not true.
12:33 Len Burman:
However, it is true that our long-term fiscal situation is pretty dire and tax increases will definitely be in our future.
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