A blurb in the latest Bloomberg Businessweek features R. Glenn Hubbard‘s thoughts on ?repairing the economy?:
What does the President need to do about tax policy? It’s really pretty simple. It’s saying, “Let’s extend the Bush tax cuts until we have the next Presidential election so that we can have a real debate on the size of government and how we’re going to pay for it.” That would clear up an awful lot of uncertainty.
Defend the plutocrats’ arguments against the President. About half of the people in the top 1 percent of income are business owners, so they’re the people who create jobs. It is not us vs. them.
Is stimulus working? We had a package that the Congressional Budget Office costs out at $814 billion. That’s equivalent to giving almost $100,000 to every newly unemployed person. We know it didn’t have a very significant effect.
