StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between



Clive Crook

Posted by Stan Collender

And he says in National Journal that a value-added tax is on the horizon.

There's nothing really new in Clive's column.  Bruce has been saying that a VAT is logical for a long time.  And among many others, I've been saying that the deficit isn't just a spending problem.

But the fact that Clive is now willing to go where others have boldly gone before is an important indication that the public debate is now changing and that a tax increase is becoming a topic for polite conversation.  It might not yet inevitable but it's definitely becoming more acceptable.

 

Posted by Stan Collender

My friend Clive Crook says in his latest National Journal column that the federal budget process has to be changed to deal with the looming fiscal crisis in the U.S.  (He also says at the end of the column that revenues will have to increase, but I'll leave that issue for Bruce to address.)

There are two reasons why you'll get no argument from me that there should be a better budget process in Washington.  First, it's true.  Second, I've made a pretty good living over the years analyzing and explaining federal budget process changes -- including a requently assigned text book and hundreds of speeches and seminars.  A completely new system would be personally very beneficial.




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