Will President Donald Trump ever release his tax returns? This burning question dates back before Trump officially announced he was running for the highest office in the country. More than two years into his presidency, he still hasn't released them. And now, the whole issue is coming to a head. The Democratic controlled House Ways and Means Committee has subpoenaed Treasury Secretary Steven Mnuchin and IRS Commissioner Charles Rettig.
Paul Krugman says universal basic income would be either too expensive or inadequate.
Paul Krugman says Universal Basic Income would either cost more than what is politically possible at the moment, or the amount of money people would receive would be inadequate. The Nobel Prize-winning economist says the U.S. should focus more on targeted programs that "focus on people with real needs" as an alternative, like universal healthcare and child care support. He also discusses redistribution and geographic income inequality.
Paul Krugman shares his thoughts on income inequality and how it effects both the economy and the individual. "The reason to be worried about income inequality is what it does to people, which is ultimately what we care about," he says.
Economist Paul Krugman says the real reason the U.S. should be worried about income inequality has nothing to do with GDP, but everything to do with the well being of its citizens. Although they are not at the 70 percent top rate Alexandria Ocasio-Cortez would like, Krugman argues that taxes in New York City show that high rates aren't really deterring work right now.
The economist says slowing growth in China and Europe, deflation of a tech bubble and corporate debt could all being on the next recession.
Economist Paul Krugman says that the next recession will be caused by numerous factors. The Nobel Prize winner says the bond market is indicating that there is "a pretty good chance of a recession sometime in the next year or so." He also reviews how the economy has faired under President Trump, and how unionization in the U.S. compares to the labor force in European countries.
Jim O'Neill, former chief economist of Goldman Sachs, says the rise of the Chinese consumer will have a huge impact on the global economy as a whole.
Former Goldman Sachs chief economist Jim O'Neill says that the rise of the Chinese consumer could be a good thing for the U.S. economy. Some concerns of globalization may be warranted, but O'Neill says he is worried that some western policy makers see this as "a zero sum game," which could be damaging.