Monday, October 20, 2008
Tom Fudge: How do you get out of a recession? Do you just wait and be patient with the expectation that things will eventually turn around? Or can government take steps to speed recovery? The major party candidates for president, John McCain and Barack Obama , are working with the latter assumption. And they have presented plans that focus to a large extent on tax policy.
As you might expect, the Democrat's plan is focused on middle class tax cuts. The Republican says he'll cut taxes for everyone. That means he'll extend the Bush tax cuts for wealthy Americans and reduce capital gains taxes. Can we reach the conclusion that either economic plan will jump-start the economy?
The KPBS and Envision San Diego Special Getting By will air Thursday, October 23 at 8pm on KPBS-TV.
- James Hamilton, professor of economics at UC San Diego, and author of the Econbrowser blog.