Economist makes the case for lower taxes for the rich

Taxes have loomed large this election season. Can we jumpstart the economy by changing the tax system? Should the rich pay more or less?

These are hotly debated issues and for perspective, we turned to two experts on opposite ends of the political spectrum. In an earlier interview, Robert Reich, who was President Clinton’s labor secretary, explained why he thinks the tax system needs to do more to redistribute wealth from the rich toward the poor and middle class.

In this interview, conservative economist Douglas Holtz-Eakin explains why he thinks taxes for the wealthiest people should be cut and how that would help create jobs. Holtz-Eakin served as chief economist of the Council of Economic Advisers for President George W. Bush and economic adviser to Senator John McCain during his presidential campaign. He now heads the conservative think tank American Action Forum.