Eric Alterman: Forget the question. The answer is “tax cuts”

  Readers of this column may recall a lecture I discussed this summer by the economist fondly known as “Dr. Doom,” New York University’s Nouriel Roubini. I criticized Roubini for his failure to take politics into account when giving his “higher taxes, fewer services” spiel, because while fiscal solvency is undoubtedly important, the exact mix by which they are to be achieved is a question of political preference, and ought to be decided that way.

  Even so, during the post-lecture question-and-answer-period a well-dressed gentleman stood up and asked, “Wouldn’t it be a great idea if the president did everything Roubini suggested but also extended the Bush tax cuts for the rich? I mean, why not?” Never mind that it contradicted everything Roubini had just said. The lecture was in the Hamptons, after all, where tax cuts for the wealthy go a long way.