Politics Behind the Tax Code
http://thedianerehmshow.org/shows/2011-10-17/politics-behind-tax-code
Over the weekend the "Occupy Wall Street" movement went global with protests in Europe, Africa and Asia. One of their main demands was: “tax the rich more”. It’s not just the protesters who think that would be a good idea. So too does billionaire businessman Warren Buffett, and many Democrats, including President Obama. But Herman Cain, the leading Republican presidential candidate, wants lower taxes across the board. His party argues that singling out high income earners is “class warfare”. We discuss the how the tax code debate has become a clash over America’s fundamental values.
Guests
Kevin Hassett
director, economic policy studies, American Enterprise Institute.
Jared Bernstein
senior fellow, Center on Budget and Policy Priorities; former chief economist and economic policy adviser for Vice President Biden.
Roberton Williams
principal research associate, the Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution.
Sylvia Poggioli
senior European correspondent, NPR
Mike Dorning
White House correspondent, Bloomberg
Comments
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RBerry wrote:
"I really tire of three points often put out by the "fairness" argument:"
Excellent Post!
Ross Perot gets little credit for these times as well, without him shaping the debate for fiscal responsibility republicans and democrats would not have behaved as they did.
I think this is the result of the economic growing pains of becoming global. For a century, the goal of business was to grow and protect assets, essentially make money. And now, with a global economy, American businesses have to decide between continuing this business strategy or putting country first. If money comes first, the strategy is to ship manufacturing and jobs overseas. If America comes first, the strategy is to take a cut in profits and keep jobs here. This would require a tremendous shift in corporate values. I don't think anyone has established a plan that incorporates both goals.
My personal fear is that once businesses realize that there's more money to be made in economies with a growing middle class, they will abandon America altogether. If the Chinese middle class drive up the price of US made cars, fewer Americans will be able to afford US cars. It's only a matter of time before American businesses realize that there's no money to be made here anymore. If profits are the only goal, it will be time to move on from America. How many businesses are already keeping their money in offshore accounts, in other words, out of the US economy?
Well said! You hit the nail on the head. I think that there is a moral component to CEO pay but it is so far off the radar as to be irrelevant. Typically, when we are made aware of the positive things corporations do, it's usually presented in a black and white commerical narrated by someone with a slightly southern accent intended to make us forget about a recent environmental calamity the company just caused. Or am I just being cynical?
mancuroc wrote:
"We were in a VERY deep hole in 2009. If you look at the trend line of jobs lost and jobs recovered, you can see that it worked, as far as it went. You don't stop taking your medicine the minute it starts to work."
Here's your problem, mancuroc. The original ARRA was supposed to pay for all the "shovel-ready" jobs (which didn't exist) that you now want us to pay for again! The problem isn't that rebuilding infrastructure isn't a good idea. The problem is, the Administration has NO CREDIBILITY with respect to the idea that it will actually happen. Fool me once, shame on you. Fool me twice shame on you.
monte wrote: "Seems you have a personal problem with me, typical liberal name calling coupled with a post filled with nothing but conjecture."
Not a personal problem, but I have been reading your inane comments for some time now. I'll ignore your idiotic spelling mistake comment. The comments I made were all based on well-known facts. I challenge you to refute any of them with documentation. The only possible point you could say is "conjecture" was the one about politicians being bought off the rich. If you don't believe THAT happens, you're living in a fantasy world. Just ask any EX-congressman who's not now a lobbyist.
Isn't it wonderful how monte can write an intelligent and informed Comment about a show three days before it even airs!
Oh, wait, he can't?
Never mind.