American Middle Class is 'Under Siege' Says Steve Forbes
Publisher Steve Forbes sees the potential for a bill to cut corporate taxes to pass next year.
The American middle class is 'under siege,' publisher Steve Forbes says. He believes a solution is to cut tax rates to businesses and sees a chance of such legislation passing next year if President Obama signs on. On the other hand, cutting personal income taxes will require a new President, Forbes says. Forbes calls the federal income tax code 'an abomination.' He adds that 'nobody knows the rules of the game' in healthcare, further hurting growth. Forbes also contends the Federal Reserve has hurt the economy on the monetary side by 'making it very easy for government to borrow,' while making credit difficult to come by for small businesses.
