Sunday, November 9, 2008

The Obama Economy

In an article titled, "Obama Will Need 18 Months to Turn Economy Around, Stiglitz Says" Columbia Professor and Nobel Laureate Joseph Stiglitz attempts to lay some groundwork for the "tax" portion of the next administration's "tax and spend" framework.

In arguing the obvious, that the economy is bad and will soon be Obama's problem, Stiglitz advocates "rolling back outgoing President George W. Bush's 2001 to 2003 tax cuts as well as taxing dividends and capital gains as ordinary income." He also warns against cutting taxes on high income Americans of course.

Hold on tight. The Good Ship America is sliding left.

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