Post #13162 by tecmo on the Berkshire Hathaway board

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Even a quite small move in the rate gap turns a certain foretold disaster into a "oh, look, no prob". Canada was "doomed" once upon a time, around the early 1990s. The national sales tax was rejigged and the problem went away.

OT but curious Jim on your thoughts

1. US Deficit (not debt) growth is unsustainable
2. Cutting spending is unlikely to solve the problem sufficiently
3. Raising revenues will be required
4. Tariffs will raise revenues

There is absolutely an argument that tariffs are a very inefficient way to raise revenues, but estimates are upwards of $600B "is not nothing".

Suppose instead that the US added a federal sales tax that also generated $600B; would that have been equally disastrous?

tecmo
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