Stiglitz Says Cutting Taxes Won’t Help Economy

The US government should stimulate investment, not cut taxes, Nobel Prize-winning economist Joseph Stiglitz told CNBC Wednesday. “When you have households with an overhang of debt, homeowners owing more on their mortgage than the value of the homes, tax cuts are not going to stimulate the economy,” Stiglitz said. “What we need now is to stimulate investment.”- CNBC