By Margaux Alicea
WASHINGTON (MNI) – A stronger U.S. middle class is vital to the
restoration of the American economy, but this will not be attained if
tax cuts for the upper 1% are extended, Rep. Bobby Scott said Wednesday.
Economists generally agree that innovation and productivity will
lift the United States out of this period of weak growth. However, they
disagree, depending on their political leanings, on what will be the
source of growth.
Those on the right believe that tax cuts for the elite will create
jobs for middle-class Americans, Scott said during a panel discussion
hosted by Center for American Progress.
However, he said, “the tax code is not impacting job creators.
Just because you get a tax cut does not mean you will hire more people.”
Instead, “We have to find ways to strengthen the middle class and
this means finally saying goodbye to the Bush-era tax cuts,” he said.
The panel discussed a report released by the Center highlighting
the various ways to strengthen the middle class and stimulate the
economy. This included any solution that would exclude tax cuts for the
wealthiest Americans.
“Tax cuts when there’s a deficit? This makes no sense,” Scott said,
warning that programs like Medicare and Medicaid could be compromised in
order to make room for tax cuts.
Sen. Michael Bennet, also on the panel, agreed that there are
better solutions and that investing in human capital is key.
“We need to be more efficient in the transition of people from
higher education to private sector jobs,” he said. “We are lacking human
capital.”
** MNI Washington Bureau: 202-371-2121 **
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