Long-term Fiscal Consequences

Americans have long had a complicated relationship with taxes. We don't like paying them, but we love the things they pay for. In the decades after World War II, both political parties agreed - taxes are worth it.
Then came Ronald Reagan and the anti-tax movement.
Michael Graetz, a Professor Emeritus of Law at Yale University and Columbia University and author of The Power to Destroy: How the Antitax Movement Hijacked America, discusses how an American consensus was shattered and a new era of low taxation and deficit spending was begun, and the impact that era will have on Americans today and tomorrow.

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