The Rich Are Taxed Enough (#208)
How do we fix the economy? The U.S. government's budget deficit is nearing a trillion dollars for the fourth straight year and unemployment remains high. With the Bush-era tax cuts that are set to expire at the end of 2012, what is the best move for continued economic recovery? President Obama says we should raise taxes on those making more than $250,000 to reduce the deficit. Others say that the richest 1% already pay more than a quarter of all federal taxes and higher taxes for job creators would slow economic growth. Are the nation's wealthiest not paying their "fair share," or should tax breaks be extended for everyone in the name of job creation? [56 minutes]
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Series Description: INTELLIGENCE SQUARED features provocative and informative debates on hot-button concerns of the day. Moderated by ABC's John Donvan, each program includes experts, specialists and passionate advocates on both sides of an issue. Taking the traditional approach of Oxford-style debate, one side proposes and the other side opposes a sharply framed motion, with two to three speakers on each side. After the formal arguments, the debate is thrown open to the floor for questions, triggering an interchange among speakers and audience. The studio audience votes on the motion before and then after hearing the arguments, providing a clear measure of how people have been swayed.
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