What the hell’s going on at NYT? First, they do a piece on Andrew Breitbart. Then they warn the world that Taxmageddon will crush the world in 2013, beginning with the USA.
Here’s how Business Insider summarized the David Leohardt article:
Basically, with no changes to current law, taxes will rise for everyone, and after tax, inflation-adjusted income for the average American will drop to 1998 levels.
It’s largest tax increase in the history of Western Civilization, and it will happen if Congress doesn’t stop it.** We could be looking at a 5 percent drop in GDP in 2013 alone. **
Taxmageddon is the result of decades of borrowing to feed the entitlement monster. Only real entitlement reform will solve it.
**The After Party will be at Crowne Plaza Grille at the Crowne Plaza Hotel in Clayton on Thursday, April 19 at 7:00 pm. **Join us. Bring a friend.