Tax hikes, of course, at least in TIME columnist Joe Klein?s world:
Deficits grew until the combined actions of George H.W. Bush and Bill Clinton caused the deficits to stop growing. How, you might ask, did they manage that? They raised taxes. Somehow the economy not only survived, it prospered.
It?s too bad the rest of Klein?s column reveals an ignorance of the impact of raising marginal tax rates. Perhaps he ought to learn the basic tenets of supply-side economics.
