Sounds to me like checkmate.
If we raise taxes, jobs will suffer, and the economy won't grow.
And the economy can't grow unless we cut taxes so that everyone can spend more.
I don't think taxing the rich will have any effect, one way or the other.
It is the same thing that happened in Japan. They used to be on top of the world, but spent too much borrowed money and outran their ability to pay it back when their economy stopped growing about 20 years ago.
Only this time, I think, it's going to effect the entire world; there is not a growing economy left. We are all checkmated.