Columnist: Government needs more revenue to function properly listen02/25/09 Mitch E. Perry
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In his message to Congress last night, President Barack Obama laid out how he plans on dealing with the various crises facing his administration.
But the Washington Post editorialized this morning that his message was more about what could be done than what would have to be left out.
Obama said in addition to dealing with the banking, housing and financial problems, he plans on addressing health care, education, and alternative forms of energy, and cut the deficit in half by 2013.
How can he do it? One analyst says that members from both parties realize that it will involve raising taxes.
New York Times Economics Columnist David Leonhardt wrote today that for a half century, federal taxes have remained fairly constant relative to the size of the American economy- equal to about 18 percent of gross domestic product. But he says that has to end soon.
Leonhardt's column, “The Upside of Paying More Taxes,” was published in today’s paper, and can be accessed at nytimes.com.