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Paul Krugman

And the dollar did rise after Trump's election, when people thought (foolishly) that he would actually do infrastructure. But all of that is gone, with the dollar now below pre-election levels 3/
6h
In fact, it didn't even lead to a rise in business investment; there was a boom a decade later, but that was about technology, not tax policy 4/
Did it lead to an acceleration in the growth of potential GDP, the economy's productive capacity? Not so anyone could tell 3/
So Trump wants to roll regulations back to 1960 nyti.ms/2jT19KI Here's what New York looked like before the Clean Air Act. This is what we're supposed to cheer on?
So, yesterday I wrote about the possible motivations of Republicans in pushing a wildly unpopular tax bill. I included as one important factor the "K street end game" nyti.ms/2nYccXt
With some Bitcoin enthusiasts declaring that a bubble is inconceivable, a blast from the past: Alan Greenspan declaring that a housing bubble was impossible federalreserve.gov/BoardDocs/Spee…
What people may not realize is that this is very similar to the scam Paul Ryan repeatedly pulled in his budget proposals: tell CBO to assume paths for revenue and spending, then pretend that CBO had actually validated those projections 2/ krugman.blogs.nytimes.com/2012/08/23/sav…
The Treasury "analysis" just assumes a ridiculously large growth boost from tax cuts -- 7% higher GDP by 2027! -- then uses careful wording to make it seem as if the experts at the Office of Tax Policy made this estimate 1/ treasury.gov/press-center/p…
Nobody could have predicted that the Trump Treasury would fail to produce a serious economic analysis of tax cuts
Also slightly disappointed that the article didn't mention that this exact thing was tried in Sam Brownback's Kansas, and was a disaster nytimes.com/2017/10/10/us/…
Worth pointing out, however, that the GOP has been heading this way -- disrespecting wages as opposed to other income -- for a while. Remember Eric Cantor's famous Labor Day tweet honoring ... business owners 2/
"My life depends on it. I need you to make your vote match your principles, Senator." A man who says he was recently diagnosed with ALS debates the GOP tax bill with Senator Jeff Flake on a plane cnn.it/2BXAhR5
Retweeted by Paul Krugman
Finally, there's an old line from John Stuart Mill, which is rude but arguably speaks to the nature of the Republican base. What sort of people watch Fox and think they're getting The Truth? What happens when such people lose adult supervision and get to set the agenda? 7/
Ezra Klein and I did a podcast the other day, not yet released, in which this came up. Both of us were well aware of political science about the difference in structure between the parties 2/ matthewg.org/papers/ideolog…
Watching the politics of sexual harassment unfold, I find myself thinking of what Frederick Douglass (whose work people are appreciating more and more) said about Abraham Lincoln 1/ teachingamericanhistory.org/library/docume…
Counterpoint: Dollar General, which caters to low-income households that live hand to mouth, is booming vox.com/policy-and-pol…
For those shocked by GOP fiscal irresponsibility: it's been obvious all along, except bothsides pundits didn't want to see the obvious krugman.blogs.nytimes.com/2012/08/18/rya…
Tax Policy Center is in the same ballpark as JTC, but even less optimistic taxpolicycenter.org/publications/m…
Some radical thoughts from tax expert Dan Shaviro danshaviro.blogspot.com/2017/12/what-c… He's probably financed by George Soros and the lesbians
So, the rhythm of column writing meant that I had to draft my piece for tomorrow's paper based on rational expectations about what JCT would report. Well, my expectations were about right. A preview from the column draft:
McCain is a yes on the tax cut, but he is also Taking Seriously the Concerns about the deficit. If we could tax furrowed brows...
Retweeted by Paul Krugman
They didn't explicitly claim that tax cuts pay for themselves -- but they didn't strongly assert the contrary either; clearly, their goal was to offer aid and comfort to the tax cutters while preserving deniability. And aid and comfort they provided 5/
As many of us suspected, that claim was a flat-out, brazen lie. There never was such an analysis, and the tax experts at Treasury were in fact prevented from carrying out any analysis nyti.ms/2k9yXWF
 
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