A Bigger Government Means Giving Up Almost Half Your Paycheck

Adam Michel, director of tax policy studies at the Cato Institute, dives into the future of American taxation and its potential shift towards a European model. He argues that without significant reforms, Americans might face tax burdens averaging $12,000 higher than today. Michel critiques the misconception that taxing the wealthy can fix deficits, stressing that high government spending drives tax increases for everyone. He also contrasts policy proposals from Trump and Harris, shedding light on their implications for national debt and economic sustainability.