In a new interview with The Boundless Show, Bill Beach of The Heritage Foundation shocked host Lisa Anderson and her young-adult audience with his statement: “If we don’t immediately act to solve the debt crisis, what will happen is tax rates will basically double by the time the current millennial generation is in their 50’s—which isn’t that far away.“ Bill Beach on The Boundless Show Their discussion was based on Heritage’s recent report Slay the Beast: How You Can Save Us from the Massive Debt. A presentation Beach and co-author Rob Bluey have …
Intergenerational theft. A complicated phrase that can simply be described as borrow money now, force our children and grandchildren to pay later. We’ve heard it with Social Security, Medicare and, most recently, with the massive stimulus spending bill. We can now add cap and trade to the list. The Heritage Foundation’s Center for Data Analysis found that the Waxman-Markey bill would increase inflation-adjusted federal debt by 26 percent. Over the 2012-2035 timeline, the negative economic impacts accumulate, and the national debt is no exception. This is 26 percent increase is above …
