If you're asked, do the rich pay their fair share in taxes?

You really do have to ask a couple of other questions.

You've got to ask, well, what do we buy rich?

And what do we mean by enough?

Now consider that to be counted in the top 1% of earners in America,

you need to be making approximately $380,000 a year.

Consider also that that 1% pays more than a third,

of all of the federal income tax that comes in to the federal government.

Is that too much? Is that too little?

Well, let's make a debate of it.

True or false, the rich are taxed enough.

Another debate from Intelligent Squared U.S.

I'm John Dunvend.

We have four superbly qualified debaters

who will be arguing for and against this motion.

The rich are taxed enough.

They go in three rounds and then the audience votes to choose a winner

and only one side wins.

Our debaters include, on the side arguing for the motion, Glenn Hubbard.

Glenn, you are Dean of the Columbia Business School.

You are also throughout 2012.

You've been a advisor to Mitt Romney's campaign.

...