Hubbard Says Keep the Tax Cuts

Excerpt from President George W. Bush economic advisor Glenn Hubbard's new book, co-authored with Peter Navarro, “Seeds of Destruction, Why the Path To Economic Ruin Runs through Washington and How to Reclaim American Prosperity”:

“There is no good economic argument for the administration's position that the 2001 and 2003 tax cuts should be repealed for taxpayers making more than $250,000 per year. Deficit fears don't do it -- almost all economic models would show lower costs to closing deficits through spending cuts …

“Fairness arguments don't work -- why not raise average tax rates on high-income taxpayers without raising marginal tax rates (by, for example, limiting deductions), if that is the big issue?”

This appeared on September 8, 2010 in Politicos' Morning Money.

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