Bogus! Nobel Prize-winner on Trump's tax plan: "Lies, Lies, Lies, Lies..."

Read the whole thing:
https://krugman.blogs.nytimes.com/2017/10/14/lies-lies-lies-lies-lies-lies-lies-lies-lies-lies/

One of them is a Republican fave:

Lie #9: Cutting taxes will jump-start rapid growth

Insistence in the magical power of tax cuts is the ultimate zombie lie of U.S. policy discussion; nothing can kill it. And we know why: there’s a lot of money behind the proposition that great things will happen if you cut the donors’ taxes. It’s difficult to get a man to understand something when his salary depends on his not understanding it.

Still, for the record: Reagan cut taxes, and although his administration began with a terrible recession, there was a fast recovery thereafter. Some of us think Paul Volcker had more to do with both the recession and the recovery than anything coming from the White House; but in any case we have more evidence.

For Bill Clinton raised taxes, amid cries from the right that he would destroy the economy. Instead he presided over a boom that surpassed Reagan in every dimension. For what it’s worth, I don’t think this boom was Clinton’s doing. But it certainly refuted the proposition that cutting taxes is both necessary and sufficient for prosperity.

Then Bush the younger cut taxes, and there were many hosannahs about the “Bush boom.” What he actually got was a lackluster recovery, followed by an epic crash.

Finally, Obama inherited the aftermath of that crash, and despite scorched-earth opposition from Republicans the economy gradually clawed its way back. Then in 2013 Obama first raised taxes substantially, then implemented the Affordable Care Act, again amid cries of disaster from the right. The economy did fine.

Oh, and there were the recent state-level experiments. Sam Brownback slashed taxes in Kansas, promising an economic miracle; all he got was a fiscal crisis. Jerry Brown raised taxes in California, amid predictions of – you guessed it – disaster; the economy boomed, and the main problem is a housing shortage.

There is nothing, nothing at all, in this history that would make any open-minded person believe that the Trump tax plan will cause dramatically accelerated growth.

 

The Nobel prize is a joke.

 

Obama winning the peace prize delegitimized the entire organization.

 

Damn facts!!

 

Lies lies lies is always a great title for a Krugman article.

 

Paul Krugman is a joke.

 

Complexity is hard, isn't it?

 

130 billion in just pension?

They need to get Bill Gates and Warren Buffet and all the other big billionaires to come for a conference.

Not for ideas, just to kidnap them for ransom.

Just keep borrowing away people!

 

As Margaret Thatcher so aptly stated,
“The problem with socialism is that you eventually run out of other people's money.”

It amazes me so many "intelligent" people fail to grasp that concept.

 

Texas takes more back in federal money than they contribute so what are you talking about?

 

Hyperbole.

Socialism is great in:

• Denmark.
• Finland.
• Netherlands.
• Canada.
• Sweden.
• Norway.

You also have all kinds of socialist programs in America. I guess you just wanna shut down the VA huh?

 

You really have no concept of how our own government was intended to work let alone those in Europe. Let me help you. I will use our country and Denmark as examples.

USA - Constitutional Republic (Not a Constitutional Democracy)
Denmark - Constitutional Monarchy (in other words they have a King and Queen)

BTW- The Veterans Administration falls well within the constitutional responsibilities given the Federal Government of the United States of America.

 

Federal tax money is free money so who cares? Oh wait.