Schiff tells us the answer: starve the beast. Investors will shift the taxable assets that they can out of the USA and will "reduce the footprint" of the rest. Those hikes which are unavoidable will be passed along to employees and customers in the form of lower wages and higher prices. The Laffer Curve will out.
This is why the left has begun buzzing about a Global Income Tax.
That’s also why the congress critters have been passing laws over the last 10 years or so that restrict American assets overseas. Now more and more banks are saying sorry to Americans, we can no longer do business with you because of your governments regulations. Many of them passed prior to the stuff hitting the fan blades. There are a few in congress who know exactly where this is going, because they are helping to steer the ship right into the iceberg.