Spanish Tax Increase Proposal Would Doom Economy

Spain's new Prime Minister, Pedro Sánchez, formally unveiled his plan to make the country more inclusive in a speech to the Spanish Congress on Tuesday. Sánchez's plan is to increase spending and finance it by raising taxes on businesses and high-income individuals. The Spanish Congress should block the prime minister's proposals if it wants to avoid an exodus of capital, as well as higher unemployment and prolonged stagnation.