http://www.imf.org/external/pubs/cat/longres.aspx?sk=24770.0
http://www.imf.org/external/pubs/ft/wp/2011/wp1172.pdf
I said a couple of days ago on this BLOG that taxes will go up in the US as there is no other way the Govt. can generate any revenue.
Here is a link to a paper that was released by the IMF.
Conclusion -
"We find that, under our baseline scenario, a full elimination of the fiscal and generational imbalances would require all taxes to go up and all transfers to be cut immediately and permanently by 35 percent. A delay in the adjustment makes it more costly."
http://www.imf.org/external/pubs/ft/wp/2011/wp1172.pdf
I said a couple of days ago on this BLOG that taxes will go up in the US as there is no other way the Govt. can generate any revenue.
Here is a link to a paper that was released by the IMF.
Conclusion -
"We find that, under our baseline scenario, a full elimination of the fiscal and generational imbalances would require all taxes to go up and all transfers to be cut immediately and permanently by 35 percent. A delay in the adjustment makes it more costly."
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