Stiglitz Says U.S. Taxes Need Overhaul to Fix Policies

The U.S. must overhaul its tax system because lower rates on investment income unfairly punish wage-earners, Nobel Prize-winning economist Joseph Stiglitz said.

“It’s absolutely essential that we have a fair tax system and one that directs our economic activity to production not to speculation,” Stiglitz, a Columbia University professor, said today in a Bloomberg Television interview on “Surveillance Midday” with Tom Keene.