| The bulk of taxation in developed nations comes from the middle class. To actually reduce social gaps requires to actively channel resources into social programs which is unlikely given the budget deficit. So the most likely scenario is that taxes will go up but the inequality won`t be reduced because these moneys will go into plucking holes in the budget. Nevertheless I do think that the author is right that the US will be soon back on its feet. America is unlikely become a giant Sweden, but coming back to be America may well be within its reach. |
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