Nobel Prize-winning economist Joseph Stiglitz, a professor at Columbia University, talks about U.S. income inequality and tax policy. He speaks with Tom Keene on Bloomberg Television’s "Surveillance Midday." (Source: Bloomberg)/ This video was published on June 4, 2012.
Stieglitz: “It’s absolutely essential that we have a fair tax system and one that directs our economic activity to production not to speculation.
“If you have a tax system in which people at the very top pay half the rate of somebody who is working hard for their income, simply because they get their income from speculation, that’s an unfair system and it’s a distorting system and leads to lower economic growth.”
