[Alpha Kodiak]

Originally posted by tesco samoa:
A interesting interview with Dr. Krugman.

http://www.calpundit.com/archives/002170.html

I do not know enough about economics to add to it.

But I did read it. And thought it was worth passing on.

There is mention of A.Sullivan Does anyone have any good interviews with this gentleman ??

He lost all credibility with this line:

Bush says, I've got a tax cut that's aimed at working people, ordinary working people, and then you just take a look at it and discover that most of it's coming from elimination of the estate tax and a cut in the top bracket, so it's heavily tilted toward just a handful of people at the top. It's just a flat lie about what the tax cut is.

While it is true that dollar-wise the wealthiest people get the most money back, the reason is that they put the most money in. I am not an economist, so I will keep the discussion to a tax situation that I am familiar with -- my own. Prior to the Bush tax cuts, my tax burden was relatively low, since I have four kids and a mortgage, and my wife is a stay-at-home mom. After the tax cut, my burden more than just went to zero, it went negative (I got back more than I put in) because of increases in the child tax credit. One could argue correctly that I did not get nearly as much of a break as the local millionaire, strictly on a total-dollar basis. However, since I received a greater than 100% reduction in my actual tax burden, I am hard-pressed to see how the administration could funnel more of the tax reduction to me. And trust me, no one would peg me as one of the nation's rich people.