THE ED MYLETT SHOW

The Liberal Perspective with Austan Goolsbee

Jan 14, 2020
Austan Goolsbee, former economic advisor to President Obama and current economics professor at the University of Chicago, brings his insights on pressing economic issues. He passionately debates socialism versus capitalism, challenges misconceptions about wealth taxes, and critiques the recent tax policies. Goolsbee also highlights potential recession indicators and discusses the impact of U.S.-China trade relations. The conversation wraps up by advocating for respectful civil discourse, emphasizing the need for balanced dialogues in politics.
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INSIGHT

Socialism vs. Capitalism

  • Austan Goolsbee, an economist, clarifies that socialism involves government control of production, not just taxes.
  • He points out that advocating for higher taxes or wealth redistribution doesn't equate to socialism.
INSIGHT

Tax Cut Impact

  • Goolsbee challenges the narrative of Trump's tax cuts' success, citing lower-than-projected corporate tax revenue and business investment.
  • He highlights that overall tax revenue may be up, but corporate revenue is significantly down, contrary to promises.
ANECDOTE

Corporate Tax Rates

  • Ed Mylett questions Goolsbee's criticism of corporate tax cuts, recalling his past support for lower rates.
  • Goolsbee clarifies that he supported lowering the rate alongside broadening the base, not cutting overall corporate tax revenue.
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