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Mitch McConnell is actually proposing the most massive tax increases

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    Mitch McConnell is actually proposing the most massive tax increases in U.S. history

    In “Why Mitch McConnell’s State Bankruptcy Idea Is So Stupid,” Josh Barro makes a very important and elemental point about Mitch McConnell’s proposal to let states go bankrupt. Bankruptcy is only available to those who are insolvent – and no state is even close to insolvency because they have the power to tax. Right? A bankruptcy court cannot wipe out debts simply because the debtor prefers not to raise taxes to pay for them. So, for example, McConnell’s bankruptcy stance is only a proposal to massively raise NYS taxes.*/

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