Death and taxes are the two sure things, they say. In the last week, the storm’s been brewing on the tax front. Former Fed chair Alan Greenspan re-emerged to say he never meant to sanction all of George W. Bush’s big tax cuts and the GOP-led spending that rolled right on.
Treasury Secretary Hank Paulson told Congress the federal debt ceiling needs bumping over $9 trillion dollars. New health care plans are pointing to higher taxes for the high income. War costs are nearing $3 billion dollars a week.
This hour, On Point: crunch time and the unspeakable, your taxes, and the next president.
-Tom Ashbrook
Guests:
William Gale, vice president and director of economic studies at the Brookings Institution, co-director of the Tax Policy Center, and author of the forthcoming “Taxing the Future: Fiscal Policy in the Bush Administration.”
Andrew Samwick, former chief economist on the staff of the President’s Council of Economic Advisers, 2003-2004, and currently a professor of economics at Dartmouth College.
John Harwood, chief Washington correspondent for CNBC and a columnist at The Wall Street Journal.
Tags: economics, politics, taxes
