More Of This Week’s Security Notes

The Economist gets it right

Here’s the article.

If I were going to subscribe to a magazine, this would be on the short list, in general. However, this succinctly points out two things this blog has been saying for a while now.

1) Raising taxes won’t do any good without closing loopholes (yay me!)

2) You have to cut entitlements to make any real progress (good for Kevin, I guess.)

This sentence says it all: “[Raising the tax rate on the rich] would raise revenues of about 0.3% of GDP and do nothing to make America’s grotesquely complicated tax system more efficient.”