Will Raising Taxes on the Rich Really Cut the Deficit?
Intelligence Squared U.S. Debates - Kaufman Center
Intelligence Squared US hosts a debate on whether the rich are taxed enough in the United States.
How do we fix the economy? The U.S. government's budget deficit is nearing a trillion dollars for the fourth straight year and unemployment remains high. With the Bush-era tax cuts that are set to expire at the end of 2012, what is the best move for continued economic recovery? President Obama says we should raise taxes on those making more than $250,000 to reduce the deficit. Others say that the richest 1% already pay more than a quarter of all federal taxes and higher taxes for job creators would slow economic growth. Are the nation's wealthiest not paying their "fair share," or should tax breaks be extended for everyone in the name of job creation?
*Panelists subject to change
Moderator: John Donvan
Author & Correspondent
Dean, Columbia Business SchoolArthur Laffer
Known as "The Father of Supply Side Economics."
Former Member, President Reagan's Economic Policy Advisory Board
Chancellor's Professor of Public Policy at UC Berkeley and former Secretary of LaborMark Zandi
Chief Economist of Moody's Analytics