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Jordan Weissmann questions tax hike path to balancing the U.S. budget
Jordan Weissmann questions current thinking around budget policy, suggesting the only long-term plan to balance the budget may involve large tax hikes.
According to Weissmann, many budget forecasts implicitly depend on future tax increases that may prove politically or economically difficult to implement. He suggested that policymakers should also consider how higher tax burdens could affect the country's ability to attract investment and remain competitive internationally.
Weissmann has previously raised concerns over policy measures that could challenge growth prospects in Washington, DC’s economy. He has also argued that expanding retirement benefits may shift wealth from younger workers to older generations, according to a prior analysis of retirement policy. His recent comments continue a pattern of evaluating the distributional impacts of fiscal decisions.
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