Gallo: Tax Cuts the Wrong Kind of U.S. Fiscal Policy

The transcript discusses fiscal policy, highlighting concerns about deficit increases due to tax cuts for the wealthy. It contrasts monetary and fiscal policies, noting the rise in inequality and the need for infrastructure spending to boost the real economy. The discussion also covers the challenges of implementing effective fiscal policy, the role of public and private investment, and the impact of US fiscal policy under Trump, emphasizing the shift from monetary dominance to fiscal strategies in a populist era.

What is the main criticism of the fiscal policy discussed in the first section?

• It does not address the needs of the wealthy.

• It increases the deficit by cutting taxes for the wealthy.

• It focuses too much on infrastructure spending.

• It reduces the deficit by increasing taxes on the middle class.

According to the second section, what has been the result of insufficient fiscal policy in Europe?

• A rise in economic equality.

• A decrease in market growth.

• A boost in the real economy.

• An increase in inequality and disenfranchisement.

What type of fiscal policy is suggested to address economic disparities?

• Infrastructure spending

• Reducing public investment

• Tax cuts for the top 1%

• Increased monetary policy

What is a major challenge in implementing fiscal policy according to the third section?

• Finding the right projects at the right time

• Reducing public investment

• Decreasing private investment

• Increasing taxes on the wealthy

What shift in economic policy is highlighted in the third section?

• From public to private investment

• From monetary to fiscal policy

• From fiscal to monetary policy

• From infrastructure to tax cuts