Some pragmatic commentary from Paul Krugman on tax reform

Paul Krugman provides the following tweetstorm analysis of the 1986 tax reform in the US:

Everyone holds up the 1986 tax reform as a model of seriousness -- which it was. But no discernible impact on growth! 1/ pic.twitter.com/x8PcKr4jzU

— Paul Krugman (@paulkrugman) October 22, 2017

So why do we talk so much about taxes? Because so many politicians and others are well paid to make a big deal of the subject 3/

— Paul Krugman (@paulkrugman) October 22, 2017

This isn't cynicism, just realism. Anyone who imagines that the politics of taxes reflects hard thinking is living in a fantasy world 5/

— Paul Krugman (@paulkrugman) October 22, 2017