So basically Krugman favors a sentimental approach. Unfortunately, being sentimental comes at the price of economic efficiency. That is, efficient growth.
Krugman wants to even people's incomes. He always complains that incomes became more even between 1939 to 1945 & stayed that way till 1980. & the gap btw rich & poor has widened since 1980. PK complains about this constantly. On top of this he is a big supporter of Keynes. The person he ignores is Friedman, who was all about cold economic efficiency. He believed minimum wage and govt programs were against efficiency. And he was right. These programs are moral BUT ALSO inefficient.
I also hate Krugman. But you're wrong as to his motives. It's not that he doesn't want to help people (& only wants to grow government). In fact it's the opposite, he is overly concerned w/ evening the incomes of individual Americans. The problem is that he is a Keynesian. Many people who dislike Krugman are more inline w/ Milton Friedman -- & most economists wouldn't disagree with the idea that Friedman's ideas were an IMPROVEMENT on Keynes' idea. Basically, you're wrong about PKs motivations.
Do you have any statistics or evidence for why you think your economic policies would be better for the economy than Krugman's? Or just that they're not the same as your ideas? You can't just say that suspending the income tax is better for the economy than a stimulus without any support for that statement.
Read Economics 101. Government spending has a greater effect than an income tax cut because all the money is spent. If you cut all income tax, much of that will be saved, and you have a smaller effect. A millionaire is less likely to spend his 250,000 tax cut. Milton Friedman also warned that temporary tax cuts are not usually consumed, but saved or used to pay off debts. Learn something about economics, before you make a moronic comment.
@AcolyteAbyss I'm sure paying off debt won't allow them to spend more in the future and stimulate the economy, right? When government spends money it steals it and that money is then removed from somewhere else in the economy. Perhaps society NEEDS to save and PAY DOWN debt for awhile and PERHAPS our inability to do that is WHY WE HAVE SO MUCH FUCKING DEBT, both the government and individually? Your economics 101 is pretty fucking stupid.
@FatLibertarianInOkc Government borrowing removes idle money from the economy, since there is a high demand for safe assets. What makes you think that paying down debt will help us out of the Great Recession? Ireland and the UK are attempting austerity, and it is not going very well. We are losing $1 trillion in potential output each year this recession continues. What model do you base your beliefs upon? Mine can be backed up by basic supply and demand laws. Yours', I am betting, are made up.
One plus of government stimulus 100% of it being spent. People don't have to spend tax breaks and I would imagine that besides the very poor almost nobody would spend all the tax breaks. So 1 trillion dollars in government stimulus = 1 trillion in stimulus whereas 1 trillion in tax breaks doesn't. As far as stimulating the economy goes tax breaks are not as effective.
You clearly don't understand any of the issues at hand, and seem to be driven by towing an ideological line. If you can summon the brain cells to read Eichengreen and O'Rourke you'll see that fiscal stimulus in a time of zero interest rates is remarkably effective. What you need to substantiate you're opinion is an argument that explains clearly why all the evidence pointing against you and towards Krugman is wrong , and you'll need more than swearing, assclown.
@TeaParty2012 Why you don't like paul krugman? LOL! How 'bout...BECAUSE HE IS RIGHT! ROTFL. "Suspend the income tax?" ROTFL...yeah, that's a brilliant idea. ROTFLMFAO!!!!
Krugman is a bought out tool of the fed. A socialist, marxist puppet trying to advance the cause of government control of our lives through greater debt.
When it comes to wars and public works, Krugman commits the broken window fallacy too often for me to agree with him. I am a free marketer and I disagree with Keynesianism. But when Krugman says tax cuts for the wealthy are ineffective and that our problems are due to the middle class not having enough disposable income he makes a great point. The only stimulus I support is a massive tax cut for the middle class. The economy is 70% consumption and the middle class is the primary consumer.
@mongoose704 As a free marketer, i disagree that there should be some who receive more tax cuts than others. I especially believe that we should not tax those who create the most wealth - wealthy! People forget that in order to consume, we must first produce and economic growth comes from savings!
Krugman is a creepy looking guy and the fact that he says the 850 billion stimulus would have worked if it was 500 billion more is both insane and conjecture.
i agree with a ton of what you say, and i totally respect your right to say it. i kinda wish you'd leave the doomsday predictions to the alex jones nut's or just put it on a different channel. predicting doomsday and advocating long term solutions to human prosperity dont mix well.
So basically Krugman favors a sentimental approach. Unfortunately, being sentimental comes at the price of economic efficiency. That is, efficient growth.
ask230 3 months ago
Krugman wants to even people's incomes. He always complains that incomes became more even between 1939 to 1945 & stayed that way till 1980. & the gap btw rich & poor has widened since 1980. PK complains about this constantly. On top of this he is a big supporter of Keynes. The person he ignores is Friedman, who was all about cold economic efficiency. He believed minimum wage and govt programs were against efficiency. And he was right. These programs are moral BUT ALSO inefficient.
ask230 3 months ago
I also hate Krugman. But you're wrong as to his motives. It's not that he doesn't want to help people (& only wants to grow government). In fact it's the opposite, he is overly concerned w/ evening the incomes of individual Americans. The problem is that he is a Keynesian. Many people who dislike Krugman are more inline w/ Milton Friedman -- & most economists wouldn't disagree with the idea that Friedman's ideas were an IMPROVEMENT on Keynes' idea. Basically, you're wrong about PKs motivations.
ask230 3 months ago
Can we start another government eugenics program? It'd be great to have Krugman sterilized.
Ishpeck 4 months ago
Do you have any statistics or evidence for why you think your economic policies would be better for the economy than Krugman's? Or just that they're not the same as your ideas? You can't just say that suspending the income tax is better for the economy than a stimulus without any support for that statement.
joebliss187 6 months ago
Read Economics 101. Government spending has a greater effect than an income tax cut because all the money is spent. If you cut all income tax, much of that will be saved, and you have a smaller effect. A millionaire is less likely to spend his 250,000 tax cut. Milton Friedman also warned that temporary tax cuts are not usually consumed, but saved or used to pay off debts. Learn something about economics, before you make a moronic comment.
AcolyteAbyss 6 months ago
@AcolyteAbyss I'm sure paying off debt won't allow them to spend more in the future and stimulate the economy, right? When government spends money it steals it and that money is then removed from somewhere else in the economy. Perhaps society NEEDS to save and PAY DOWN debt for awhile and PERHAPS our inability to do that is WHY WE HAVE SO MUCH FUCKING DEBT, both the government and individually? Your economics 101 is pretty fucking stupid.
FatLibertarianInOkc 6 months ago
@FatLibertarianInOkc Government borrowing removes idle money from the economy, since there is a high demand for safe assets. What makes you think that paying down debt will help us out of the Great Recession? Ireland and the UK are attempting austerity, and it is not going very well. We are losing $1 trillion in potential output each year this recession continues. What model do you base your beliefs upon? Mine can be backed up by basic supply and demand laws. Yours', I am betting, are made up.
AcolyteAbyss 6 months ago
One plus of government stimulus 100% of it being spent. People don't have to spend tax breaks and I would imagine that besides the very poor almost nobody would spend all the tax breaks. So 1 trillion dollars in government stimulus = 1 trillion in stimulus whereas 1 trillion in tax breaks doesn't. As far as stimulating the economy goes tax breaks are not as effective.
CliffRunner17 11 months ago
There is no way we can spend money to create economic growth.
Endafed 11 months ago
You clearly don't understand any of the issues at hand, and seem to be driven by towing an ideological line. If you can summon the brain cells to read Eichengreen and O'Rourke you'll see that fiscal stimulus in a time of zero interest rates is remarkably effective. What you need to substantiate you're opinion is an argument that explains clearly why all the evidence pointing against you and towards Krugman is wrong , and you'll need more than swearing, assclown.
countryjumper 1 year ago
Tax cuts wont work as most of it will be saved and wont help the economy.
funisverygood 1 year ago
@TeaParty2012 Why you don't like paul krugman? LOL! How 'bout...BECAUSE HE IS RIGHT! ROTFL. "Suspend the income tax?" ROTFL...yeah, that's a brilliant idea. ROTFLMFAO!!!!
LDV089 1 year ago
Krugman is a bought out tool of the fed. A socialist, marxist puppet trying to advance the cause of government control of our lives through greater debt.
YouNeedMeds 1 year ago
When it comes to wars and public works, Krugman commits the broken window fallacy too often for me to agree with him. I am a free marketer and I disagree with Keynesianism. But when Krugman says tax cuts for the wealthy are ineffective and that our problems are due to the middle class not having enough disposable income he makes a great point. The only stimulus I support is a massive tax cut for the middle class. The economy is 70% consumption and the middle class is the primary consumer.
mongoose704 1 year ago
@mongoose704 As a free marketer, i disagree that there should be some who receive more tax cuts than others. I especially believe that we should not tax those who create the most wealth - wealthy! People forget that in order to consume, we must first produce and economic growth comes from savings!
cabgt 10 months ago
he's a nobel prize winner. SHut UP !!!!!!!
Kilzoful 1 year ago
@Kilzoful So is Obama. So much for the credibility of a Nobel Prize.
mongoose704 1 year ago 2
@Kilzoful
Henry Kissinger is a Nobel Prize winner, too. :Þ
gunsandbullhorns 1 year ago
I'm sorry, but you're wrong and always wrong like most tea baggers; Dr. K is 99.5% always right; in a left way of speaking:-)
mcgloinm 1 year ago
Krugman is a creepy looking guy and the fact that he says the 850 billion stimulus would have worked if it was 500 billion more is both insane and conjecture.
bonfirejovi 1 year ago
@bonfirejovi You'd be forgiven for thinking he's a "kiddy fiddler"
cabgt 10 months ago
i agree with a ton of what you say, and i totally respect your right to say it. i kinda wish you'd leave the doomsday predictions to the alex jones nut's or just put it on a different channel. predicting doomsday and advocating long term solutions to human prosperity dont mix well.
oiuoiu988 1 year ago
@oiuoiu988 How about this. How about you create your own channel and do what the **** you want on it? How about that?
TeaParty2012 1 year ago 4
@TeaParty2012
if i did, i wouldnt identify my crazy views on doomsday and bad football on a channel named after a current mass movement.
oiuoiu988 1 year ago
@TeaParty2012
Yeah you really should go back to the fatlibertarian channel cause you really aren't part of the tea party 2012. LOL
skyding8962 1 year ago
@oiuoiu988 Double Dip or not? Even Krugman is calling for doom and gloom, he refers to it as the third depression.
bonfirejovi 1 year ago
You're absolutely correct.
matahaari 1 year ago
haha government gold card. Did someone stop at GNC today?
skyding8962 1 year ago
You make SOOO much sense!!! The key is that none of these guys who claim to want to help the economy actually WANT to!
thalonelygirl 1 year ago