Keep punishing successful people until economic growth improves.
That’ll work.
HERE’s HIS ARGUMENT:
The American economy is suffering from extreme inequality. A large portion of society’s resources are held by a tiny slice of people, who aren’t using the resources very efficiently.
While it’s theoretically possible that some entrepreneurs and investors might work less hard because of a 2 percent annual tax on their holdings above $50 million (the tax threshold under the Warren plan), thus sapping economic growth, It’s more likely that any such effect would be SMALL — and more than OUTWEIGHED by the return that the economy would get on the programs that a wealth tax would finance, like education, scientific research, infrastructure and more. Those basic investments all have a long record of lifting economic growth.
(OK, not arguing in favor of his ideas, just summarizing what his arguments amount to ).
To all you young folks out there contemplating a career—you want to be a tax lawyer.
The rich people will be begging to pay _you_—instead of Uncle Sam!
Government confiscating earnings is good for the economy?
NYT is celebrating Red China’s birthday a day early.
Sounds like Krugman lunacy. He’s got a disciple, I see.
Up is Down
White is Black
Just repeat after us
The ONLY thing that will grow is the CORRUPT GOVERNMENT!!
arbeit macht frei
Or it could have no effect at all. That about covers all the possibilities, doesn't it? That's some pretty solid economics right there...
Notice to get all their “doomday” stats, they have to stretch out the timeframe to include the Obama years, or even back into the Clinton years!
Duh, The Chosen One was talking down the economy for his eight years in office. His programs were killing businesses.
No. The IRS has enough power already.
Don’t believe the scaremongering. Uncle Joe Stalin runs a benevolent People’s Republic and nobody was murdered. </NewYorkTimes>
I have known Krugman for a long time, and he disgusts me even without discussing his far-left version of economics. Besides being thoroughly unpleasant as a marginal human being, he’s always wrong on economics. No exceptions. Even washing his socialism through another writer cannot make the stupidity seem sane.
Not exactly a ringing endorsement of your boy Barry Obama there, is it, New York Slimes?
Even if I accept the premise that we are not "doing fine", the truth is that we are one of a very few, select, countries where foreigners will risk death to sneak into our borders and live as illegals at the bottom of our society.
We better really know what we are doing before we tinker too much with the system that built this greatness. Let some half-baked college professor make a major change with no safety valve and our grandchildren will live as serfs.
Whit people who earned over 100k voted for Clinton in the last election and the more they made the more likely they were to vote Democrat. Every time I turn on the corporate mainstream media all I get is Democratic party slime liar filth. These upper class people are the only economic class in this country that favors open borders. I am changing my tune and I am starting to say tax and tax them for everything we can get. If they want socialism so bad then let them pay socialist taxes. Let them pay the taxes since the control both parties and are spending the public money like drunken sailors.
Accelerate? Coupled or tripled with "free health care"; Pay off all school loans; free education; free housing, medical, food stamps for illegal aliens....HUH?
President Trump and his administration have a sound economy through sound leadership now.
I could be persuaded to consider a wealth tax, but only under two conditions.
1) deficit spending is made enforceably and absolutely illegal
2) all revenue raised by wealth tax must go directly to debt reduction and any funds above that must be distributed back to the payers.