Kotlikoff, Laurence; Marx, Ben; Rizza, Pietro - Institute for Social Research (ISR), University of Michigan - 2006
According to a recent estimate by Gokhale and Smetters (2005), the present value difference between the U.S. government’s projected future expenditures and its projected future tax receipts exceeds $60 trillion. Closing this enormous fiscal gap requires a variety of different tax increases and...