Obviously this was always going to be the case. But here’s the hard truth: the US has needed to raise taxes for decades given its inability to reduce spending.

Obviously this was always going to be the case. But here’s the hard truth: the US has needed to raise taxes for decades given its inability to reduce spending. Hence they massively inflating runaway deficit. If this is the only way Americans will accept tax increases, and they aren’t willing to decrease spending, then this policy will ironically end up being the only way forward to climb out of the financial hole.