John Williams: The Endgame – The Only Path Left Leads To Higher Inflation
Raising taxes will damage the economy, create more unemployment and lower growth
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Jim welcomes back John Williams from Shadow Government Statistics. John looks at what’s coming ahead, and he sees a bleak situation. John believes there are simply too many unfunded liabilities to tax our way out of this situation. The only path leads to higher inflation, and none of the proposed political solutions will fix the problem. The only realistic way out is to drastically reduce entitlements, which John sees as politically impossible. He sees higher tax rates leading to slower growth, higher unemployment, and economic recession, or worse.
John received an A.B. in Economics, cum laude, from Dartmouth College in 1971, and was awarded a M.B.A. from Dartmouth's Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar. During his career as a consulting economist, John has worked with individuals as well as Fortune 500 companies. Formally known as Walter J. Williams, his friends call him John. For nearly 30 years, John has been a private consulting economist and, out of necessity, had to become a specialist in government economic reporting.