Economists Predict When the US Economy Will Crash, THIS is the Date

The economy is collapsing - and not because of the budget deficit. It is because rich people have too much money to buy real investments and too much in speculation.  Raising taxes on business profits and capital gains is the way out of the debt crisis and to rehabilitate the economy. We also need higher minimum wages (double it), a higher child tax credit (also double it) and equal dollar (as opposed to equal percentage) COLAs. If businesses eat tariffs rather than pass them along, it is similar to higher taxes on capital - or can be.  

Debt is not supported by the economy, however. It is supported by the ability and willingness to tax the investor class adequately.  That means higher capital gains, pass through and corporate profits taxes. Tariffs may serve part of that function, especially to the extent that upper income individuals use some imported goods more often for their high end lifestyles. Tariffs or a value added tax were inevitable. The question is whether we are willing to raise wages, equalize COLAs and raise the child tax credit so that such taxes are affordable.