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The Bailout Blues
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In tonight's presidential debate, we're sure to hear more about the financial crisis. Both candidates are tinkering with their economic proposals but are reluctant to part with their tax cuts plans.
David Cay Johnston is the author of Free lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (And Stick You With The Bill). For years the Pulitzer Prize winning writer for the New York Times described a U.S. government that’s been willing to offer tax breaks and subsidies to big business at the expense of the little guy.
One of the thoughts coming out of this crisis is that Washington will assert greater power to control Wall Street. There are visons that this new aggressiveness could spill over into tax policy, health care and other issues.
Jerome asked David Cay Johnston if he saw that happening.
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