PRESS MENTIONS

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“There is no good economic argument for the administration's position that the 2001 and 2003 tax cuts should be repealed for taxpayers making more than $250,000 per year.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.

Read the issue at Politico's Morning Money.

 

Polls suggest Republicans have a good chance of taking the House of Representatives this fall and a slim shot at the Senate. So what would a GOP congressional majority do to revive the U.S. economy?

A new survey shows that most economists favor extending the Bush tax cuts. The National Association of Business Economics says three in five of its members believe we should keep those lower tax rates on capital gains and dividends. Glenn Hubbard helped create that tax plan.

Watch the video on PBS.org

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Watch the full episode. See more Nightly Business Report.

David A. Moss, an economic and policy historian at the Harvard Business School, has spent years studying income inequality. While he has long believed that the growing disparity between the rich and poor was harmful to the people on the bottom, he says he hadn’t seen the risks to the world of finance, where many of the richest earn their great fortunes.

Americans have almost always taken growth for granted. Recessions kick in, financial crises erupt, yet these events have generally been thought of as the exception, a temporary departure from an otherwise steady upward progression.