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Wednesday, November 9, 2011

GOP Concession on Taxes Rebuffed


“Congressional Republicans have for the first time retreated from their hard-line stance against new taxes, offering to raise federal tax collections by nearly $300 billion over the next decade as part of a plan to tame the national debt. But Democrats rejected the offer Tuesday — along with the notion that Republicans had made a significant concession that could end the long-standing political impasse — leaving a special debt-reduction committee far from compromise with less than two weeks until its Thanksgiving deadline.” (Washington Post)

But the problem is government consumption of scarce resources!

FEE Timely Classic
“Undertaxed or Overspent?” by E.C. Pasour Jr.