Krugman is a blistering, blithering dumb piece of crap.
He thinks MORE spending is going to prime the pump. WHEN DO THESE LEFTIST STATIST IDIOTS GET THAT WE HAVE POURED HUNDREDS OF BILLIONS INTO THAT PUMP, AND IT ISN’T GOINT GET PRIMED.
Gee. Cut corporate taxes, reduce individual taxes and pass legislation that ENCOURAGES industrial development. WHAT A DAMNED NOVEL IDEA.
Instead, people who suggest this are treated like unfeeling, selfish, greedy capitalists.
The best example of this mindset was the PBS drone who interviewed Gov. Christie recently. When he talked about his plan to cut taxes, the pretty boy with the coiffed hair got all indignant: “How...how can you even TALK about cutting taxes at a time like this! I thought you were someone who said that we all had to share the pain...how come these corporations get off...”
Christie cut him off and said something to the effect of “We have taxed industry and people to the point they have all left the state in droves. If people don’t have jobs, they can’t pay taxes, and revenues go down. If you make the state attractive to industry, corporations and business will come here create jobs for people who then get to pay taxes, and revenue goes up.”
If I had been him, I would have said “AND IT WORKS EVERY TIME IT HAS BEEN TRIED, YOU DUMB ASS.”
Apparently they don't realize that you can't prime a busted pump.
Ah, you went to the same of rhetoric that I did.
It takes a special kind of stupid to be a journalist. And sometimes, they need to be reminded of their special place in the world.
/johnny
We can start by passing this into law to replace the economy-sapping income tax system along with repealing the 16th Amendment:
FairTax ENCOURAGES personal savings and capital investment staying in the USA as much as possible, and after it becomes law you will see way over US$10 TRILLION in repatriated and new liquidity enter the US financial system and millions of jobs return to the USA.
And the reason the pump isn’t getting primed is the huge tax and spend leak in the casing.