The president participated in a town hall meeting earlier today on CNBC. A few thoughts on the event:
These two charts pretty well sum up one version of the economic impact of the White House tax plan — such as raising high-end tax rates — at least according to a computer model run by the conservative Heritage Foundation. You can disagree with the modelling, I suppose. But I am not sure any model would show higher taxes boosting the economy right now.
Looking for some bipartisan solutions to America’s economic problems?
Well, I just read a great book on U.S. economic policy that is definitely worth checking out: “Seeds of Destruction” written by Glenn Hubbard and Peter Navarro. Hubbard is the former head of the Council of Economic Advisers under George W. Bush and is now dean of Columbia Business School. Navarro, a Democrat, is a business professor at the University of California, Irvine and author of “The Coming China Wars.”