Alan Greenspan is urging Congress to impose a $2.9 trillion tax on low- and middle-income earners, in addition to a $1.7 trillion tax on the top bracket.
This probably says more about Greenspan than it does the fiscal scenario. Greenspan is commonly caricatured as an Ayn Rand-obsessed anarcho-capitalist who dedicated his career toward dismantling the regulatory state and eliminating taxes. Yet with every report about some surprising capitulation by Greenspan, his record looks less like that of an inconsistent libertarian, and more like that of a mainstream insider.
