Zakaria: Sales Tax, More Govt. Spending Needed to ‘Restore American Dream’
On Thursday's Newsroom, CNN's Fareed Zakaria endorsed a predictably liberal solution to get the American economy moving again: enact more taxes and implement new government programs. Zakaria called for a national sales tax and advocated new government spending on “research and technology” and “upgrading the infrastructure.” The CNN host also labeled tax cuts “bad stuff.” Anchor Ali Velshi brought on Zakaria during the last segment of the 2 pm Eastern hour to discuss his upcoming cover story for Time magazine, ” How to Restore The American Dream .” Velshi labeled the article a “must-read” and first asked his guest, “I overheard a conversation between you and someone else the other day where you said you don't even like using the world 'stimulus' anymore. There is an answer that doesn't emphasize consumption. It emphasizes investment. Explain that to me.” The Time editor stated that “as a society, we are over-consuming, and for the last 20 years, we've consumed more and more, not because we had any increase in wages, but because we borrowed more.” He continued with his government spending recommendation and his negative labeling of tax cuts: read more
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Zakaria: Sales Tax, More Govt. Spending Needed to ‘Restore American Dream’
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on October 28, 2010. Filed under