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  • Robert Reich Calls for Tax Cut

    09/11/2007 7:41:54 AM PDT · by NaturalGorilla · 50 replies · 1,416+ views
    Former Department of Labor Secretary during the Clinton Administration and and current University of California at Berkeley Public Policy professor, Robert Reich, is calling for a tax cut: With the economy heading for recession, all eyes are on Ben Bernanke and the Fed, and the question everyone is asking is how much the Fed will cut short-term interest rates to stimulate the economy. But a Fed rate cut won't stimulate the economy. That's because lending institutions, fearing their portfolios are far riskier than they assumed several months ago, won't lend lots more just because the Fed lowers interest rates...So if...