I'm Bill Moyers. It's good to have your ear.

Nobel Prize economist Joseph Stiglis says tax reform is the key to our future.

Taxes are one of the ways we shape markets.

If our tax system says, if you keep your money abroad, you don't have to pay taxes. You're going to get

more money abroad and you're going to get less job creation. If your taxes say we want

to encourage real investments in America, then you can get more investment in America.

So I'm an economist who believes that incentives matter, but I also believe that you have

to shape incentives and that markets on their own don't necessarily shape them the right

way.

Thanks for joining us.

We continue our conversation with Joseph Stiglitz, who's one of the world's most influential

economist, the man who has been most often cited by his colleagues in the field.

He's a Nobel laureate, and he's mad as hell, infuriated by America's growing inequality

as those at the top by the politicians who write the rules that rigged the system.

He's especially angry at how the tax code has been manipulated and abused to place the burden on the earners of

ordinary income instead of on the rich and powerful most able to pay. But Joseph Stiglitz says

there are solutions. Here's what he told us in our last episode.

We have a tax system that reflects not the interest of the middle.

We have a tax system that reflects the interest of the 1%.

And I want to do is create a tax system that has incentives to create jobs.

And if you tell the corporation, look at if you don't create jobs,

you're taking out of our system, you're not putting back, you're going to pay a high tax.

...