Paul Krugman with Chris Hayes: The GOP Tax Plan

[@stevenblue1979]

Fascinating to listen to this now in the context of the Covid-19 crisis.

[@Oreark]

Hayes is an informed interviewer of a brilliant, humble, good human being and economist. Very helpful for a regular person like me. Thanks for re-posting.

[@Laurence2000]

Is it a bad thing that my appreciation of Krugman extends well beyond the intellectual? 😬

[@jamaalrichardson4966]

@@Laurence2000 Yes, as you're providing zero context for that comment, it comes off as extremely creepy.

[@Laurence2000]

@Pappy Chulo Unironically, yes. (And if I’m not mistaken, I’ve encountered you from other platforms, where your username was very similar.)

[@DOG-bt6vy]

Krugman is a pretty dope economist. I know right wingers give him shit for his poor predictions but overall his economic analysis is pretty good.

[@jamsid33]

so his economic analysis told him that if Trump was elected the market would crash and the world economy would go into a depression, I would rather listen to someone without that expert analysis

[@purpandorange]

His failed predictions are exactly why his economic analysis is terrible, you don't have to be a right winger to understand that. In fact most of the modern world realizes that a market with minimum regulation is necessary for economic prosperity, except Krugman who still believes government spending grows economies so it's really only American Democrats who think his ideas still have any validity.

[@DOG-bt6vy]

@@purpandorange it depends when you're spending the money. Stimulating the economy during a recession will cause it to grow. When the economy is good, a government would raise taxes and decrease unnecessary spending and during a recession it would decrease taxes and increase deficit spending to sort of "re-start" the economy.

[@purpandorange]

@@DOG-bt6vy Krugman wasn't talking about taxes alone, he believes that government investment and public projects are what stimulate an economy and not private enterprise despite the fact that private entities have easily proven far more effective at investment. Some countries stimulate economic growth by cutting regulations, others cut taxes and some do both but Paul is still in the 1930s thinking public work projects will create economic prosperity and any cuts in taxes or regulations will immediately result in serfdom despite every modern country now recognizing that a free private market, with minimal regulation, is key to a successful economy and to fund social programs in countries with high taxes.

[@illegitimatefilm]

I just give him shit for downloading kiddie porn.

[@MikeyJJJ]

31:52 "Now so far we've had a period of almost eerie calm in the markets, but what happens if and when something happens - and eventually something always does." Boom, something happened.

[@Hansruedi2011]

great thank you

[@kellygoodine9944]

Make stock buy backs illegal again. It is market manipulation and is a large reason why the stock market has little to do with the overall economy. Companies would either have to sit on their wealth, reinvest it within their own company or other companies. By allowing stock buybacks, you are just rewarding the CEO's and top execs who are compensated largely by that stock.

[@johndonovan7897]

That socialist president Eisenhower when the top marginal tax rate was 80 to 90 percent is a favorite phrase of mine.

[@Centurion-ph7gk]

John Donovan except it was not 90%. If you look at Tax revenue percent of GDP it averaged the same as the “Neo-Liberal” age you all complain about. You can go even further and look at individual income taxes percent of GDP. Still the same. It’s a farce and as long as you liberals still believe it we will come no closer to understanding economic reality.

[@jacobkarlsson9293]

@@Centurion-ph7gk You don't seem to contradict what John Donovan wrote. Wasn't the top marginal income tax 80-90% during the Eisenhower years?

[@Centurion-ph7gk]

@@jacobkarlsson9293 no it was on paper but not in reality. The tax rate was in fact much lower and the rich paid less in share of taxes then they do today. There were many loopholes in the tax system during the Eisenhower administration. Your fantasy world of the 50s 60s of high taxes high regulation are a myth. There was less of both.

[@jacobkarlsson9293]

​@@Centurion-ph7gk "your fantasy"? Why are you making assumptions about what I want? This was simply about whether the top nominal marginal income tax was a certain percent during the Eisenhower years (which it was). Krugman talks about the loopholes when discussing that era, so I don't get who you're referring to with that. You are reading a lot into what the op wrote, like high regulation, which isn't there. I've never come across any data on share of total taxes paid by income, or wealth, bracket per year so feel free to share links. I would say, though, that share of total taxes paid by the wealthy (which has to be defined for any meaningful comparison) is not necessarily related to marginal tax rates since it depends on size of the group and/or how their income compares to the rest of the population.

[@Centurion-ph7gk]

@@jacobkarlsson9293 the most realistic actual tax rate was 42% on the top people which back in the day was 3 million in todays money. you are free to look up. In fact most people making more then 300,000 pay more in taxes today then back then. There was a lot more brackets back then.

[@CECICEO-cz9ho]

Economics should be completely holistic within the whole of society instead of making it a rarified, convulated system that in the States is totally bankrupting everyone but the millionaire/billionaire class- you ARE KILLING THE NORMAL PEOPLE IN YOUR COUNTRY. Economics is just part of society : you have to think about the security, health and well-being of the country as a whole. You are NOT and America WILL NOT LAST.

[@mightyone3737]

I think the point that China will not weather a serious economic downturn terribly well is probably prescient. The people tolerate a heavy handed government, because it offers them remarkably good growth consistently. If it stopped, people would want more democracy I think, which could get ugly.

[@dougspray7160]

Do you really think that if after a Chinese crash, slump, depression that by installing Democracy the discontent could be solved. That has been the nieve thinking of America and so many of its recipient nations that by installing a Democratic/Free Market system prosperity follows.In Africa and many other poor countries after converting to the Democratic/Free Market system has decreased their prosperity and in many cases huge debts taken have been cancelled. Also the American Presidential System with its associated constitution and Legal Political appointment of Judges , the Electoral College of vote counting, etc.etc from recent events does not look to be a successful form of a Democratic system to recommend and install in developing countries.

[@randykrus9562]

Something IS happening now.....

[@djrychlak4443]

I've always liked Paul Krugman. The Accidental Theorist or The Conscience of a Liberal are two good books. When you catch a whiff of the elitist impulse to aggrandize wealth at all costs, it's either an eye opener or resignation to their iron grip....I mean look at the tax code exceptions. EDIT: 'to'

[@elizabethstart7466]

If you think Trump makes Bush look good........LOL Trump says hold my beer.

[@suninmoon4601]

Question: Things are happening against majority rule, time and time again. How do you think about that? Answer: The answer is simple. People are sheep. But seriously, the average citizen is more invested in the status quo than in meaningful change.

[@unappreciatedtreehouse821]

Chris Hayes looks like Meg Griffen from Family Guy.

[@apacheresources8117]

I kind of see what you're talking about. He reminds me more of Ben Gibbard from Death Cab

[@53660winston]

I have a good friend that teaches jewelry at the 92nd Street Y. She also teaches at Pratt. The 92nd Street Y is a very special place. winstoncreative.com/

[@compupix]

I don't think this was recorded in 2019.

[@eeek77]

Nobody said it was.

[@jamaalrichardson4966]

When Krugman mentioned Ryan early on I looked in the description and it states it was recorded in 2017.

[@rd264]

it says "Recorded December 10, 2017 at 92nd Street Y." I interpret that to mean Recorded December 10, 2017 at 92nd Street Y.

[@southbendkid]

I disagreed with just about everything Reagan stood for, but with three children I paid no federal taxes for years.

[@PetarStamenkovic]

If taxes make so little impact on the economy, very doubtful, but we can go with it- why no lower them or get rid of them? Government only has subpar services and ballooning deficit to show for it, and people that have their money stolen, they notice it.... so... why not fight to lower taxes? Why fight to increase them?

[@bkolumban]

In a world where every person is an island, n taxes would be perfect. However, we don't live in a wold like that and society has to be funded somehow (taxes is the most efficient).

[@PetarStamenkovic]

@@bkolumban Please notice I didn't say _"fight to abolish taxes"_ but rather _"fight to lower them."_ There are things that taxes could and should pay for- the most basic of the basic necessities- like roads, police, firemen, army... Maybe even 1-8k schooling... Maybe. I'm not sure I'd go that far, even though I see how it could be beatifically to the economically hurt people. Given how bad schools are now, and how much money they already get, I'd probably want major restrictions on who can use that tax funded schooling. And that is sort of my point- we should debate what is the _minimal_ necessary government funded projects that allow us better lives, while not handing over the keys to power to corrupt, inept and often, delusional politicians.

[@billykobilca6321]

Trump plays and screams "I'm a victim "... very boring

[@mrfuzztone]

Krugman should speak up on the economic issues related to proposals of the 2020 presidential candidates Now is the time to make a statement and a difference

[@vladdrakul7851]

He is totally in the Hillary Camp and ha been since 2016 when he ceased being journalist thinker and became a defender of oligarchy and Empire and the Hillary DNC. Unlike others here I have been reading him for three decades. He was once pretty good. no more. Just like John Oliver, Rachel Maddow, Bill Maher and sadly so many others he has gone professional DNC McCarthyist. Still we can blame everything on Russia, Susan Sarandon, Tulsi Gabbard or why not Assange, who told us truths.

[@Guizambaldi]

I don't know if he fully endorses Warren - maybe because the Times can't allow that. But he clearly prefers Warren to any of the other Democrats.

[@jamsid33]

well, he said that if Trump was elected the stock market would crash and we would be in a depression, so you want him to talk about 2020 for what reason?

[@faithinverity8523]

My mother-in-law to me on Jan 1, 2010 that it was a good year to die. Ten months later she was dead.

[@DrPeter0]

As I understand the Estate Tax, it represents double taxation. One’s estate consists of assets that have already been taxed (at least my estate does). To then tax my estate with an estate tax represents double taxation. Intuitively, I regard double taxation as bad. Incidentally, there are quite a few other examples of double taxation which we already swallow without (much) protest. Please correct me if I am mistaken.

[@kellygoodine9944]

Unless you are giving your kids over 5 million ( or 10 million if you include what your wife can give to your kids too), there is no tax paid... and that is for each kid. You can also give that amount to your kid's spouse tax free. However, giving your children and their spouses part of your estate is a transaction. Your Children are receiving something.The value of what they receive is taxed. Again, if you look at the amount of value you have to give before you are taxed on anything, the estate tax only effects the wealthiest people in America.

[@aidanmargarson8910]

Evidence - if you or I are charged with murder its important. Science - if your trying to prove something to your colleagues its important. Politics .. not so much .. sadly

[@boardonfire4]

“by 2005... the internets impact on the economy has been no greater than the fax machine” now what genius economists said that? I wonder

[@boppob1343]

boardonfire4 he wasn’t really wrong. The markets and economy has not changed drastically in terms of trading goods. Even with amazon yes. The only thing he didn’t foresee was the internet absolutely being used to control a narrative to the point of hijacking an election in order to implement economic change

[@boardonfire4]

BoppoB I guess ur right if the internet were to suddenly disappear it would b just business as usual the entire world economy wouldn’t just grind to a hault it would sort itself out overnight no recession no depression or confusion etc it would b fiiine

[@boardonfire4]

I guess the printing press made not much difference in society why would the internet effect anything In a profound manner

[@Ctovin777]

What impact will self downloading IP addressee have on the future.

[@555Trout]

How can you take someone seriously who refers to people that disagree with him as "goons" and " an unusually abhorrent individual"? That is not intellect, that is idealogical emotionalism, and it is dangerous.

[@intuitionz1198]

lol stop weaponizing words. if that word is a true and fair description which clearly it is, then the only person with a problem with it, will be the person that identifies with it. I n short: truth hurts.

[@555Trout]

@@intuitionz1198 "true and fair" Good grief.

[@yeahright2068]

The problem with raising the minimum wage is the preople who are in the middle wages don't go up! They go up a little but it takes forever! And then we have middle-class wage stagnation. Talk about that.

[@555Trout]

"An element of fairness" must be in taxation schemes says Krugman. Lol!

[@peacepipes304]

Like little kids Krugman?

[@joaoalmeidahenriques4798]

He´s great a crunching down numbers.. but when asked how to have long term growth over 30 years, froze and didnt come up with a single proposal

[@steveg618]

Krugman has just been accused of being Chomo pervert!

[@bringiton5282]

Oh God, whatever.

[@christopherbennett5262]

this was more than a waste of time.

[@Lousiale1]

Paul HAS C.H.I.L.D P.O.R.N ON HIS COMPUTER

[@PlayNiceFolks]

Krugman's defense of mass debt accumulation is unforgivable. He's a worthelss team playing hack who got a trophy once. An hour of him and the world's most punchable face rubbing on eachother is probably carcinogenic.