What the New Cold War Means for the Global Economy with Niall Ferguson
Merryn Talks Money
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Is There Any Fix for the US Public Finances?
The US tax system is a mess. There is no value added tax, which is quite standard in other developed economies. The income tax regime is full of holes. If you could only get it through Congress, the problem is not a fiscal technical problem. Cold War at some point is going to force a reckoning. It will have to get into a proper mess before it does as Churchill famously said, the right thing after all the alternatives have been exhausted.
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