How Do We Pay For It All?

[David Farber <dave () farber net>]

Begin forwarded message:

From: Stephen Unger <unger () cs columbia edu>
Date: October 6, 2008 11:08:03 AM EDT
To: Dave Farber <dave () farber net>
Subject: How Do We Pay For It All?

Dave,

For ip if you wish.

Steve
............

While the debate continues about the great Wall Street bail-out, the
biggest single government expenditure ever, not much is being said
about the other side of the coin: the taxes that will ultimately be
needed to pay the bill. Maybe this is a good time to reconsider the
almost universal condemnation of taxes in the rhetoric of both
Republicans and Democrats. The assault on taxation went into high gear
three decades ago with California's Proposition 13. This was a major
factor in the fall of the national ranking of California's school
system from near the top to near the bottom. The same forces that
maligned taxation in general, have been even more successful in
attenuating both inheritance taxes and the progressive income tax,
thereby contributing significantly to the great increase in wealth and
income inequality in our country.

Steve
.........

Stephen H. Unger
Professor (retired)
Computer Science Department
Columbia University
............




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