Going for Broke

Krugman: Pile on the Taxes!

Nearly everyone agreed the supercommittee was a farce and that its failure was a good thing. Liberal New York Times columnist Paul Krugman takes the glee to new heights with a wildly contrarian proposal: we don't just need new taxes, we need lots and lots of new taxes. "I don’t just mean a return to Clinton-era tax rates. Why should 1990s taxes be considered the outer limit of revenue collection?" The best things to tax would be the income of the super-rich and financial transactions."Once upon a time America was a middle-class nation, in which the super-elite’s income was no big deal. But that was another country."