
When the rich paid taxes: Why Republicans hide the real cause of America’s $31tn debt
The dire warnings of fiscal hawks are once again darkening the skies of official Washington. They are demanding that the $31.4tn federal debt be reduced and government spending curtailed, thereby giving cover to Republican efforts to hold America hostage by refusing to raise the debt ceiling. It is always the same when Republicans take over a chamber of Congress or the presidency. Horrors! The debt is out of control! Federal spending must be cut! When they are in power, they rack up giant deficits, mainly by cutting taxes on corporations and the wealthy – which amount to the same...
Read More