Tuesday, June 3, 2014

Joseph E. Stiglitz: Let's Stop Subsidizing Tax Dodgers

Bill Moyers interviewed Nobel Prize-winning economist Joseph Stiglitz, who criticized the tax rate paid by the one percent and corporations that hold and invest money abroad. He called for a progressive tax code that would help create jobs instead of just benefiting the wealthy, who use their wealth to promote the current regressive code: “We have a tax system that reflects not the interest of the middle. We have a tax system that reflects the interest of the one percent… What I want to do is create a tax system that has incentives to create jobs. And if you tell a corporation, ‘Look, if you don’t create jobs, you’re taking out of our system, you’re not putting anything back, you’re going to pay a high tax. But if you put back into our system by investing, then you can get your tax rate down.’ That seems to me common sense, particularly in a time like today, when 20 million Americans need a full-time job and can’t get one.” Watch:

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