Tuesday, February 3, 2009

Lawrence Lindsey on the Daily Show

Lawrence Lindsey, former Chief of the President's Council of Economic Advisers, stopped by the Daily Show last night to talk about the stimulus package:

Lindsey brings up several interesting points during this interview. First, he warns against grandstanding politicians harping on symbolic, but ultimately minor points. We all might cringe at the sight of the CEOs from the Big Three traveling to Washington via private jets to ask for a handout; but as an economic issue, it's minor and a waste for Congress to focus so intently on it at the expense of actual issues facing the economy.

Second, Lindsey advocates for providing tax relief via the payroll tax, a policy that is gaining support among economists. While not everyone pays income tax, all workers pay payroll taxes. According to Lindsey, we can temporarily cut this tax and put $1,500 in every working American's pocket over the next year.

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