Romney Will Raise Taxes, Private Equity Argues
"I agree with the view that the only feasible way to make sufficient cuts in the deficit to stabilize the debt-to-GDP ratio is through a combination of spending cuts and tax increases," says Nigel Gault, chief U.S. economist at IHS Global Insight. "A President Romney might initially try to do it only via spending cuts but either he or his successor would eventually have to raise taxes," he adds.
Cautious to conjure the free enterprise message of his hero Reagan without committing to what may be a losing mix of tax and debt cuts, Romney has dodged promises to reduce or eliminate the debt.
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