Economic and political lessons from 1775: A good time for revolution, with Kevin Phillips

Welcome to Capital Account. When Timothy Geithner was asked if the Obama administration is prepared to go over the ‘fiscal cliff’ if Republicans do not agree to raise taxes on the wealthy (those earning $250,000 or more a year), he responded, “Absolutely.” But when it comes to US economic problems, does the tax debate or the fiscal cliff debate begin to scratch the surface of the crisis? We talk to former Republican strategist Kevin Phillips about what lessons we can learn from the year 1775, the subject of his latest book.

­Follow us @