Economy

Orszag Takes On Cavuto: ‘Folks Need To Actually Look At The Budget Document’

CREDIT:

Today, Office of Management and Budget Director Peter Orszag appeared on Neil Cavuto’s show to discuss the budget released by the Obama administration, which “proposes significant tax increases for businesses and wealthy families worth nearly $2 trillion over the next 10 years.” Throughout the course of their conversation, Orszag debunked various conservative tax myths trumpeted by Cavuto including: the budget proposes to raise taxes during a recession, tax increases on the wealthy are a “job killer” that will ruin economic growth, and the increases will discourage investors from playing the stock market. Watch a compilation:

As Orszag said, “we’re returning to the tax rates that applied during the 1990’s. I think all Americans — including high income Americans — did quite well during that decade.”