Are the rich taxed enough or are they not paying their fair share? Yesterday’s debate featured lively arguments from both the pro and con sides of the issue. Check out some of the highlights below.
Robert Reich of the University of California at Berkeley calls the motion “absurd” and says logic dictates why you should raise taxes for the wealthiest 1 percent of Americans.
R. Glenn Hubbard, who serves as an economic advisor to the Mitt Romney campaign, says that higher taxes on the wealthy will discourage economic growth, which will continue to damage the nation’s hopes for an improved economy.
In this next clip, the Intelligence Squared debaters tackle a core issue on taxes: the federal budget deficit. Would raising taxes on the rich be an effective way to cut into the deficit?
Watch the entire Intelligence Square U.S. Debate on taxing the rich, hosted by ABC’s John Donvan, below.