In a 1988 interview with this magazine, then known as The Stanger Register, Lawrence Summers, an economic advisor to Presidential candidate Michael Dukakis, addressed some perennially hot topics–taxes, the Federal budget deficit, and Social Security–as excerpted below. Summers has since been Treasury Secretary and is currently president of Harvard University.
Register: To stimulate savings, some economists have suggested reducing taxes on long-term capital gains to their 1986 level. Would that work?