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To: GulliverSwift
It is sad that someone with as much talent for economics, and Krugman is an economic giant, can become such a partisan hack. I think he has lost most if not all of his standing in the economics profession since he became the pit-bull columnist of the slimes.
3 posted on 12/03/2002 3:11:11 PM PST by The Vast Right Wing
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To: The Vast Right Wing
I've never heard anything about his accomplishments. I'm a bit skeptical considering the fact that he seems to be a border-line nutcase. But I'd be willing to listen if you have evidence that says otherwise.
4 posted on 12/03/2002 3:14:32 PM PST by GulliverSwift
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To: The Vast Right Wing; GulliverSwift

The Journal considers a hypothetical ducky who earns only $12,000 a year — some guys have all the luck! — and therefore, according to the editorial, "pays a little less than 4% of income in taxes." Not surprisingly, that statement is a deliberate misrepresentation; the calculation refers only to income taxes. If you include payroll and sales taxes, a worker earning $12,000 probably[WAG] pays well over 20 [0.58] percent of income in taxes. But who's counting?

Obviously not Krugman, nor has he bothered to even look it up to find out.

BLS for one: ftp://ftp.bls.gov/pub/special.requests/ce/standard/2000/income.txt

In 2000, a consumer unit of 2.0 persons having a comprehensive income of $12,316,

$4,243 wages and salaries,
$217 selfemployment income
$6443 SS, private & government retirement
$164 interest, dividends, rental and other property income
$ 94 unemployment, workers comp, veteran's benefits
$754 public assistance, supplemental security income, foodstamps
$227 regular contributions for support
$176 other income

and paid

-$25 Federal income taxes
+28 State and local taxes
+68 Other taxes(FICA, excises, etc)
==================
+$71 total taxes

For a grand total of 0.576% total effective tax rate.

The worker's taxes aren't "enough to get his or her blood boiling with rage."

Obviously they aren't, 70% of the public clamors for more from government looking for the top 40% of income earners/producers to foot the bill.

Milton Friedman as quoted by Northwest Florida Daily News, 10-16-2000:

Indeed.

6 posted on 12/03/2002 3:54:40 PM PST by ancient_geezer
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