Fox News Debate: Should States Raise Taxes On the Wealthy? - 12/15/08

I debated taxes with Neil Cavuto on Fox News. The question was whether - and how - states should raise taxes in order to plug budget gaps during the recession. I argue that states, which cannot go into deficit, must raise taxes rather than cut spending, and they must raise taxes on the super-rich, not on the middle class.

Category:

News & Politics

Tags:

• Fox News
• taxes
• wealthy

[TKROKS]

@memama2 Republicans plan: Do nothing and see what happens

[SpanishForkOutcast]

David--I am amazed at how you kept your calm.

[edwardd6681]

fuck taxes for everbody

[mfentruck]

HELL YEA tax the rich stop fucking with the little people

[soniasonia]

Hannity, O'Riley, and their brokers are the only rich people left? Is this guy retarded?

[nbluth08]

cavuto looks like eddie munster

[akmckeever1]

fucking greedy assholes. the rich should be taxed the shit out of

[whauck]

Printo, please take an economics 101 course. There is a multiplier effect of government spending. For example, a dollar spent can create up to 1.6 dollars of income due to people spending their income of other things.

That is Keynesian economics.

Bottom line: we need to balance the budget. The most effective way to balance the budget would be to raise the upper tax brackets to where they were under Clinton (38%), or Reagan (50%), or, Kennedy (70%), or Eisenhower (91%).