Tuesday, September 29, 2015

Krugman on continuing Republican voodoo tax policies

Paul Krugman takes the release of Donald Trump's tax proposals as the occasion to evaluate the current thinking of the Republican Party on taxes: And Then There Were None 09/29/2015.

Speaking of Trump's proposal, he writes:

... which would, surprise, lavish huge cuts on the wealthy while blowing up the deficit. That’s in contrast to Jeb Bush’s plan, which would lavish huge cuts on the wealthy while blowing up the deficit, and Marco Rubio’s plan, which would lavish huge cuts on the wealthy while blowing up the deficit.

At this point there are no Republican candidates deviating at all from the usual pattern. Why, it’s almost as if nobody in the party ever cared about deficits except as an excuse to slash social spending, and is totally committed to redistributing income upward.

And there is, of course, no evidence — zero, nada, zilch — that cutting taxes on the rich will yield large economic benefits.

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