The Glenn Hubbard story, the struggles of a hard-working economist struggling to maintain tax progressivity while cutting or abolishing every tax paid by high-income earners … From the Post …
“It’s hard to get a lot of progressivity at the very top,” said R. Glenn Hubbard, the architect of Bush’s most recent tax cut proposal and a former chairman of the White House Council of Economic Advisers. By slashing taxes on dividends, capital gains and inheritances, the cuts ensure that tax burdens will no longer rise consistently with income, as they would with a perfectly “progressive” system. “But,” Hubbard added, “we’ve very much retained progressivity overall because so much money was dumped into the bottom rates.”
Hard. So hard…
