A wealth tax won't work to fix the coming debt crisis: we need a consumption tax like the GST
The least painful treatment is to rely on economic growth to reduce our debt burden. However, it is risky to rely on growth alone when interest rates will eventually rise. Our second option is to control future spending once our economy returns to more normal conditions.
Original Article Source Credits: The Globe and Mail , https://www.theglobeandmail.com/
Article Written By: PETER VAN DIJK AND GLEN HODGSON
Original Article Posted on: AUGUST 9, 2020