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Nobel Opposition to the Bush Tax Plan
ResumeThis is not a stimulus plan, said the economists. It's radical tax reform that will starve the government, fuel massive deficits, croak Social Security, destroy investment in schools and health and drive up economic inequailty.
It is, said one Nobel winner, "a weapon of mass destruction aimed at the middle class." But not all economists, or Nobel Prize winners, buy the critique. Some say, bring it on. Tonight, On Point: a clash of titans. Three Nobel Prize winners debate the Bush tax cuts.
Guests:
Paul Samuelson, professor emeritus, MIT and a 1970 Nobel laureate
Daniel McFadden, professor of economics, UC Berkeley and a 2000 Nobel laureate
Milton Friedman, senior research fellow, Hoover Institution and a 1976 Nobel laureate
This program aired on February 12, 2003.