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How Would the Extension of the Bush-Era Tax Cuts Affect the U.S. Economy?

By Rich Fisher

http://stream.publicbroadcasting.net/production/mp3/kwgs/local-kwgs-939971.mp3

Tulsa, Oklahoma – The U.S. Senate is expected to vote soon on the recently-compromised agreement to extend the Bush-era tax cuts --- and, at this point, the extension is likely to pass. If this does occur, will such an extension help the economy? Is it fair to call this would-be extension fiscally irresponsible? Or a giveaway to the rich? And would such an extension basically function as a "second stimulus"? Our guest on today's program engagingly addresses these other questions. On this edition of StudioTulsa, we speak by phone with Dean Baker, a Washington-based economist and author who also co-directs the Center for Economic and Policy Research (CEPR). Last year, Baker published a book called "False Profits: Recovering from the Bubble Economy." He also writes the blog known as Beat the Press, which is an ongoing critique of the media's coverage of economic issues.