How to deal with growing fiscal deficits? Are higher taxes a smart option?

Ever since the global financial crisis of 2007-2008, countries around the world have seen their fiscal deficits grow in an almost unstoppable way. Is raising taxes a good way to combat these ballooning deficits? Figure 1 shows the average overall fiscal balance for a global sample of 188 developing and industrial countries based on data … Continue reading How to deal with growing fiscal deficits? Are higher taxes a smart option?