The Editors’ Quote of the Day:
“Government revenue is not growing faster than ever, which means rising debt even in today’s relative prosperity. Again, whether you like this or not is irrelevant. It’s happening. I see no way out. Raising taxes on the wealthy won’t get us even close to a balanced budget, even at confiscatory levels. Raising taxes on the middle class won’t happen in a recession. The only tax system with a shot at actually paying for current spending (even without adding the new programs some Democrats want) is a “VAT” or value-added tax, and it is anathema in both parties. No matter how …