This Can't Last: Low Tax Rates, High Revenue Needs

policyshop.net — Every time that President Obama emphatically repeats that he won't raise taxes on anyone making under $200,000 a year, as he did yesterday, I can't help but wince. Promising the middle class -- and a good swath of the upper middle class -- that their taxes will never go up is politically cowardly, economically irresponsible, and a betrayal of the progressive belief in government. Let me explain each of these charges in turn.

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