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kpete

kpete's Journal
kpete's Journal
April 28, 2017

Krugman: Trump is like the monster child who terrorizes a town in an episode of The Twilight Zone


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And like the 6-year-old boy in “It’s a Good Life,” everyone around Trump lives in terror of his wrath or of upsetting him. Krugman pointed to Trump’s unsubstantiated claims about former Pres. Barack Obama wiretapping Trump Tower or the failed healthcare bill that died in Congress without ever reaching a vote.

“Clearly, Trump and company should just let it go and move on to something else. But that would require a certain level of maturity — which is a quality nowhere to be found in this White House. So they just keep at it, with proposals everyone I know calls zombie Trumpcare 2.0, 3.0, and so on,” he said.

“In any case,” Krugman concluded, “I’d like to make a plea to my colleagues in the news media: Don’t pretend that this is normal. Let’s not act as if that thing released on Wednesday, whatever it was, was something like, say, the 2001 Bush tax cut; I strongly disapproved of that cut, but at least it was comprehensible. Let’s not pretend that we’re having a real discussion of, say, the growth effects of changes in business tax rates.”

“No, what we’re looking at here isn’t policy; it’s pieces of paper whose goal is to soothe the big man’s temper tantrums. Unfortunately, we may all pay the price of his therapy,” he said.



MORE:

https://www.nytimes.com/2017/04/28/opinion/living-in-the-trump-zone.html
https://www.rawstory.com/2017/04/krugman-trump-is-like-the-monster-child-who-terrorizes-a-town-in-an-episode-of-the-twilight-zone/
April 28, 2017

Thank you, Pete Souza

April 28, 2017

Trump Report Card

:large
April 28, 2017

Trump Tax Plan: Plant Beans and Wait for the Beanstalk - By Eugene Robinson

Trump's plan is based on the idea that tax cuts stimulate the economy to grow, not a little but a lot -- almost like a magic beanstalk that rises into the clouds, where we find a goose that lays golden eggs, allowing us to live happily ever after. I agree with the economists who find this scenario unlikely.

"The plan will pay for itself with growth," Treasury Secretary Steven Mnuchin said. His rosy projection is that increased growth would produce $2 trillion in new revenue over 10 years. But the Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution, estimates the tax cuts would cost $6.2 trillion in revenue during that same period, leaving a $4 trillion gap. Even the conservative Tax Foundation, which has rarely seen a tax cut it didn't like, foresees a $2 trillion gap.

Surely, leaving more money in the hands of middle-class and working-class consumers does stimulate the economy, because the money is quickly spent. But that's not what Trump's plan does. Instead, it gives massive tax relief to -- I hope you're sitting down -- corporations and the rich.

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The plan would also allow many wealthy individuals who own businesses to pay income tax not at the 35 percent individual rate but at the new 15 percent corporate rate. As I read the proposal, this would surely apply to The Trump Organization and its proprietor. What a coincidence.

MORE:
http://www.realclearpolitics.com/articles/2017/04/28/trump_tax_plan_plant_beans_and_wait_for_the_beanstalk_133740.html

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