The Problem With Raising Taxes

We need to balance the budget. There's no excuse for running peacetime deficits this large We're really going to regret this one day On the other hand, I agree with Chamath that if you just try to solve the problem by Raising taxes the politicians will just keep spending. You can only get so much blood from a stone and the reality is is that when you try to Tax rich people in a confiscatory way. They spend a lot more on lawyers and accountants to figure out How to structure their income. Where are they? Like if you're paying 50 60 percent taxes like what's the incentive to go to work? And if you're sitting on a big nut you can