The politics and the ethics of economic stimulation. President Bush is set to unveil his 600 billion-dollar package of tax cuts. The centerpiece of the plan is the elimination of taxes on corporate dividends, a move that would primarily benefit wealthy investors.
Republicans are making no apologies. It’s economics 101 they say, cutting taxes for the rich is simply the best way to create jobs and boost the stock market. Democrats say nonsense, that such a move is both unfair and unwise, doing little to help the little guy and even less to stimulate the economy. Better to give relief to lower and middle class families, that those are the people who really need it. The new political debate.
Guests:
Grover Norquist, president of Americans for Tax Reform
Robert Reich, professor of economic and social policy at Brandeis University and former Secretary of Labor under President Clinton.