NYT full steam ahead on tax increases

Fresh off Congress and the president striking a deal to avoid the "fiscal cliff" -- a deal that raised taxes on higher-income Americans -- the New York Timesmarches onward:

Mr. Obama has pledged to demand significant tax increases as deficit reduction talks go forward. The fiscal cliff deal could leave him with less room to maneuver. But caps on deductions, higher taxes on investment income and a financial transaction tax are worth fighting for, as are broader tax reforms, like a carbon tax and a value-added tax, that could take effect as the economy recovers.