Tag: Paul Krugman
Just how stupid does Mitt Romney think we are? If you've been following his campaign from the beginning, that's a question you have probably asked many times.That's how the Nobel Economic Laureate begins this column this morning, immediately reminding us that Romney appeared at a drywall factory (owned by a Republican, btw) which was closed during the Bush administration yet blaming Obama for the closure, attempting to make it a symbol. As Krugman notes, "It was a symbol, all right - but not in the way he intended," especially as the press quickly picked up on when the factory closed. And although the Romney campaign attempted to cover itself by saying the factory was still closed because Obama's policies had failed to get the economy going again, Krugman counters saying, "Actually, that factory would probably still be closed even if the economy had done better - drywall is mainly used in new houses, and while the economy may be coming back, the Bush-era housing bubble isn't."
There is more - deliciously so.
between 1979 and 2005 the inflation-adjusted, after-tax income of Americans in the middle of the income distribution rose 21 percent. The equivalent number for the richest 0.1 percent rose 400 percent.
And if we look at Capital Gains taxes, currently at only 15%,
taxes on capital gains are much lower than they were in 1979 - and the richest one-thousandth of Americans account for half of all income from capital gains.
Given this history, Krugman asks a very basic question, why do Republicans advocate further tax cuts for the very rich even as they warn about deficits and demand drastic cuts in social insurance programs?
Please keep reading.
When you heard the terrible news from Arizona, were you completely surprised? Or were you, at some level, expecting something like this atrocity to happen?
Put me in the latter category. I've had a sick feeling in the pit of my stomach ever since the final stages of the 2008 campaign.
So begins Nobel Laureate Economist Paul Krugman in his op ed this morning, Climate of Hate
Why mention his award? Because as an economist he is used to examining the data and seeing the patterns. And on this the patterns are crystal clear.
Read his column. It is as well written as usual, which makes it hard to excerpt.
I will explore aspects of it, and offer thoughts of my own.
Mr. Obama has bought the release of some hostages only by providing the G.O.P. with new hostages.Krugman raises issues about the timing of the ending of some provisions, the political effects of the impact upon unemployment. The column is definitely a must read, regardless of where you think you are on this deal as presented by the President.
Here's the thing. I think we have forgotten our own recent history when it comes to hostage taking. Might I remind people how we got into Iran-Contra?