We’re rapidly approaching the 2012 election and the biggest questions most voters face concerns the economy. Is the current administration doing enough to fix it? Could a new administration offer better solutions? And when we also consider the government’s budget deficit coupled with high unemployment, the question of taxes also comes into play.
Today’s Intelligence Squared U.S. Debates tackles an issue that has reared its head on several occasions during this election cycle: taxing the rich. Do the rich already pay their fair share, especially as job creators in this time of economic uncertainty; or should wealthy people pay more to help reduce the budget deficit and continue recovery?
Glenn Hubbard, Dean of the Columbia School of Business, and Arthur Laffer, known as the “father” of supply-side economics will argue that the rich are taxed enough. Robert Reich, the former Secretary of Labor, and Mark Zandi, Chief Economist of Moody’s Analytics, will argue against the motion.
For another perspective on taxes, let’s turn to Steve Forbes, the Editor-in-Chief at Forbes magazine, who criticizes the federal income tax as an “abomination.”