FROM Jeffrey Sachs
Are Higher Taxes the 'Price of Civilization?' Democrats, Republicans, Tea Partiers and Wall Street Occupiers all agree that America needs more jobs, but they don't agree on how to create them. Republican presidential candidates will stage another debate in Las Vegas tomorrow, with most calling for creating jobs by cutting taxes and regulations to free up the private sector. Today, President Obama began a three-day trip to early primary states, calling for a jobs bill to be paid for with higher taxes on the richest Americans. What about taxing the rich, or a national sales tax? Is government the problem or the solution?
Are Higher Taxes the 'Price of Civilization?' President Obama is campaigning in crucial states this week, demanding that Congress pass his jobs bill and increase taxes on the richest Americans. Potential Republican rivals, who will stage another debate in Las Vegas tomorrow, have jobs plans of their own, with most calling for creating jobs by cutting taxes and regulations to free up the private sector. But what if high unemployment is the "new normal?" Are both parties offering "gimmicks" that can't overcome structural weaknesses in the economy? Are they thinking too small? Has America lost the broad consensus that democracy requires? Is there a moral as well as an economic crisis?
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