Our deficits are just too big to balance the books by cutting spending and the Americans don’t have the stomach to slash spending on the biggest problem areas – Medicare, Medicaid and Social Security. So former Clinton administration official Larry Haas says the only way to raise enough revenue is to hike taxes on everyone – including the middle class and we might even need to crank up the gas tax. Why does he think this is the smartest approach? What does he think about generating much more revenue through tax cuts which traditionally spur economic growth?
Listen here and share your thoughts.