Thursday, June 10, 2004
Joining the august panel of links to your left is Donald Luskin's The Conspiracy to Keep You Poor and Stupid. You have to like anyone who relentlessly slags that blowhard Paul Krugman. Especially when he uses Krugman's words against him.
Here's a taste:
Another bit of Krugman vandalism in his column Tuesday is his
characterization of Reagan as "The Great Taxer." Dismissing Reagan's titanic accomplishments as a tax-cutter, Krugman says "no peacetime president has raised taxes so much on so many people."
How can Krugman make such a claim? Because out of the nine tax bills passed during the Reagan years, Krugman points out two that raised taxes. According to the US Treasury (with thanks to colleague Bruce Bartlett for sourcing this information), Reagan's 1981 tax cuts represented 2.89% of GDP -- that, of course, is properly what Reagan is remembered for in the Tax-cutter's Hall of Fame. But then Krugman devotes his column to the tax increase of 1982 that represented only 0.98% of GDP, and the 1983 hike in Social Security taxes that represented only 0.21% of GDP.
Put all nine bills together, and cumulatively Reagan cut taxes by 1.23% of GDP. Against all that, those two tax-hikes are supposed to make Reagan "The Great Taxer?" That's like naming Bill Clinton the Model Husband of the Year
because he remembered to send Hillary a Mother's Day card.