An article titled The Bond Buyers Dilemma appeared in the Wall Street Journal on December 07, 2011. The author argues that since the turn of the century, many of the developed economies of the world are burdened with excessive debt. Governments around the world are having great difficulty reining in spending. The seemingly less painful policy response to these problems is very likely to keep interest rates on government debt artificially low as the real burdens of government debt are reduced. The author further argues This represents a sort of taxation on bondholders for some time to come. How do you justify the authors argument about the taxation on bondholders?