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Thread: Krugman - This is not a time to think about long term fiscal responsibility

  1. #1
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    Krugman - This is not a time to think about long term fiscal responsibility

    [url]http://www.cnbc.com/id/15840232?video=922492024&play=1[/url]

  2. #2
    bandwagon
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    [QUOTE=BrooklynBound;2848245][url]http://www.cnbc.com/id/15840232?video=922492024&play=1[/url][/QUOTE]

    Nobel prize winner, predicted the consequences of Bush economic policies, expert in depression economics, and warned of the housing bubble when everyone called it a great market.

  3. #3
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    [QUOTE=bandwagon;2848279]Nobel prize winner, predicted the consequences of Bush economic policies, expert in depression economics, and warned of the housing bubble when everyone called it a great market.[/QUOTE]

    I don't believe in Keynesian economics. The government can't create wealth, it can only distribute other people's wealth into a less efficient location.

  4. #4
    bandwagon
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    [QUOTE=BrooklynBound;2849709]I don't believe in Keynesian economics. The government can't create wealth, it can only distribute other people's wealth into a less efficient location.[/QUOTE]

    Case A: the government taxes 70% of income.
    Case B: the government taxes 2% of income.

    Do both policies distribute wealth into less efficient locations?

  5. #5
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    [quote=BrooklynBound;2849709]I don't believe in Keynesian economics. The government can't create wealth, it can only distribute other people's wealth into a less efficient location.[/quote]

    FDR's approach to the Great Depression sure seemed to beat Hoover's, though, don't you think?

  6. #6
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    [QUOTE=doggin94it;2850002]FDR's approach to the Great Depression sure seemed to beat Hoover's, though, don't you think?[/QUOTE]

    Which approach would this be? Also, who says I like Hoover?

  7. #7
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    [QUOTE=bandwagon;2849888]Case A: the government taxes 70% of income.
    Case B: the government taxes 2% of income.

    Do both policies distribute wealth into less efficient locations?[/QUOTE]

    Yes, just in different amounts.

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    [QUOTE=BrooklynBound;2850096]Yes, just in different amounts.[/QUOTE]

    :clapper:

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    [QUOTE=BrooklynBound;2848245][B]Krugman - This is not a time to think about long term fiscal responsibility[/B][/QUOTE]

    Then when [U]is[/U] the time?

  10. #10
    bandwagon
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    [QUOTE=BrooklynBound;2850096]Yes, just in different amounts.[/QUOTE]

    I suppose I agree with that lol. My question is a serious one, though--just very badly asked.

    The gist of my initial question was whether all tax policies are the same. Do you support a 0% income tax (no tax), a flat tax, a progressive tax... ? In other words, if all policies result in a redistribution to "less efficient locations," which policy minimizes that inefficient redistribution?

  11. #11
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    Keynesianism is little more than militarism.
    WWII and its massive inflation is what finally got this country going again.

    Krugman is basically saying the social contract no longer applies. He is a socialist moron.

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