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Economics

Austerity Is Bad for Us and No Fun (Part 1): James Livingston

A poll conducted by the New York Times and CBS News in 2009 tells us what is wrong with the debate on how to deal with the economic crisis.

When asked about President Barack Obama’s plan to increase taxes on personal incomes of more than $250,000, 74 percent of respondents approved. Then they were “presented with the possibility that taxing those in the higher income brackets might hurt the economy.” Only 39 percent still backed the plan. These results were reproduced almost exactly in another poll published by the Times on May 2.