New Report: Big Government Means High Taxes on Everyone, Not Just the Rich

Adam N. Michel

The United States is at a fiscal policy crossroads. If federal spending remains on its current upward trajectory, the US budget will increasingly resemble government budgets in Europe, where government spending dominates economic activity. Judging by the campaign rhetoric of both Republicans and Democrats, neither party is serious about cutting spending.

To our benefit, the United States has historically been a relatively low-tax country. However, without significant spending reform...