Glenn Hubbard is dean of the Columbia University Graduate School of Business and coauthor of "Seeds of Destruction: Why the Path to Ruin Runs Through Washington, and How to Reclaim American Prosperity".
From 2001 to 2003, Hubbard served as President George W. Bush's first
chairman of the Council of Economic Advisers. During that time, he was
instrumental in designing the Bush tax cuts. I called him to ask what he
thought of their limited extension, and the deal Republicans cut to
secure it.
Read the interview by Ezra Klein on WashingtonPost.com
Economist and Republican Glenn Hubbard was the chief architect of the Bush tax cuts now at the heart of debate in Washington. conomist and Democrat Alice Rivlin was at the heart of Clinton-era economic policy, when the U.S. budget was put on a path to surplus. Now, they’re both talking about looming crisis for the U.S. economy, and finding common ground to save the U.S. economy. Is there enough common ground there? Enough to avoid gridlock, find a course, and get our act together?
Companies are starting to spend, but, instead of hiring, they are
stocking up on their own stock, companies already buying back a record
$273 billion worth of their own shares this year. That is on top of the nearly $2 trillion in cash they are sitting on already.Glenn Hubbard says extend the Bush tax cut, and they will have incentive to hire, instead of hoard. 
The rich are getting richer, the poor and middle class slipping. So are tax cuts for everybody a good idea?