/jp/ - Otaku Culture

>>2847094
We are currently experiencing a recession. Ignoring for a moment the root causes of the recession, it is generally a bad idea to raise taxes in the middle of one. That means you need to find other ways of raising capital, or cut spending. For the time being, the government has decided to continue to borrow money from foreign central banks to fund its programs, but that relationship cannot last forever; eventually those banks will stop buying treasury bonds. If that happens, the only way to make up the difference between expenditures and revenues would be to print money, thus devaluing all paper assets (and foreign debts).

The best idea would be to simply not collect taxes for FY 2009, cut spending along a list of priorities, and let the markets fix themselves without any more intrusion by government.