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Paul Krugman: The tax cut is a nothing burger

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Economist Paul Krugman says the initial evidence that the Trump tax cuts are leading to economic growth is "even worse than the pessimists expected."
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kcotte59 (1 month ago)
I like the burger analogy because $250/month is equal to one $8 hamburger for each day of the month. Or two $4/burgers. Or I could make burgers at home for $2 each. Big tasty burgers. Not a nothing burger at all. Burgers for everyone.
kcotte59 (1 month ago)
If you think that the Government deserves more tax revenue than do something about it. Get a job that pays more or just donate money to the IRS. Don't ask other people to pay more because they may not agree that the government deserves more, and their opinion is just as valid as yours.
Vegas Zoom (2 months ago)
People are more important than corporations. This is a basic postulate in both economic theory and practice. Save the people not the corporations.
Vegas Zoom (1 month ago)
We open cooperatives not corporation. People own the shares of cooperatives not. Executives.
kcotte59 (1 month ago)
Without corporations everyone would be poor the environment would be in shambles and millions of people would be freezing and starving to death. Corporations can't even vote. Corporations create jobs, wealth, products, medicines, etc and create efficiencies of scale that otherwise could not be attained. Taxing corporations makes no sense, tax the income that they create instead.
ztop ztop (2 months ago)
Krugman is a nothing burger even worse. Why do they host people that are always wrong? He was wrong about Trump, economy and the stock market.
kcotte59 (2 months ago)
Democrats are afraid that if the border wall is built that it may actually work, and they would lose their source of new voters and their drugs.
kcotte59 (2 months ago)
Krugman is an anti-Trump liberal. Trump is richer than he is so I believe Trump. Tax cut netted me $250 /month. Corporations take nothing from the gov't and shouldn't pay any taxes. People who get income from corporations should be taxed, but taxing corporations is counter productive. This Krugman wants big bucks to watch his Economics class videos. I would avoid them.
Pauli the Dog (3 months ago)
HALLO HERR KRUGMANN WAS WAREN GEO HAUSAUFGABEN
Livia Patriota (4 months ago)
BABACA COMUNSITA. From Brazil
A one legged man (4 months ago)
https://medium.com/@davesmithhvac/paul-krugmans-infamous-internet-quote-9c367d39040f
StarSeed (5 months ago)
What a lying sack of shit. The tax cuts are not the reason for the booming economy. The cutting of commie shit for brains regulations is. The fucking Nazi feds raided Gibson Guitar for using rare wood. We are up to our eyeballs in nonsense regulations.
Nik Bhardwaj (5 months ago)
https://www.youtube.com/watch?v=HO4E1bs4CbE
James Mueller (6 months ago)
Krugman was right. We actually saw faster job creation after Obama's tax hike on top earners in 2013.
World War 2 Veteran (1 month ago)
+kcotte59 He is losing credibility. You can be sure that despite over 200 deregulations by Trump, he will always say it was started by the previous administration.
kcotte59 (1 month ago)
+World War 2 Veteran he is distorting the truth. It is easier to create jobs subsequent to losing jobs, that's all. Trump achieved full employment without inflation, or a war, which is a miracle. Tax cuts put money in people's wallets without burdening employers, & rescinding Obamacare erased a lot of economic fear.. If people start demanding higher wages , health care, and more government programs any gains they make will be offset by inflation. That's economics. Let things find their own equilibrium, that is how it is supposed to work.
World War 2 Veteran (2 months ago)
He is a liberal. He is going to paint Trump so horrible.
kcotte59 (2 months ago)
But Trump's tax cut increased my net pay by $250/month at the job that I already had without taking one cent away from anyone.. Any real democrat should embrace that.
quietman356 123455 (6 months ago)
Yes it s a nothing burger. But thanks for the $3200.00 net l picked up yearly in my pay. Keep those nothing burgers coming.
kcotte59 (1 month ago)
You could buy an $8 burger every day with your savings. I bet that you will eventually get tired of eating burgers.
kcotte59 (1 month ago)
.I am taking home $250/month more than before, which is almost as much as you are. You must make decent money. I don't even have a job.
Christopher Lococo (4 months ago)
Liar alert
Simon Yacob (5 months ago)
quietman356 123455 Be prepared to lose it!
Dom Trussardi (6 months ago)
The MYTH that corps do ANYTHING but generate money for shareholders is alive and well in the feeble American imagination.
kcotte59 (1 month ago)
Yes corporations also provide goods, services, and millions of good paying jobs. They also pay local property taxes, sales taxes, government fees, etc. Without corporations the US would be an impoverished country of farmers. Corporations shouldn't pay any taxes at all. Hell, they can't even vote.
georgiabigfoot (6 months ago)
Wasn’t Krugman the rocket scientist who claimed the markets would collapse if Trump won ? DOW over 26k in Aug 18.
kcotte59 (1 month ago)
It doesn't matter because the rising oceans will kill us all by next year, maybe sooner,
John Wayne (7 months ago)
How did this moron get a Nobel prize? He has literally never predicted a single thing correctly and is responsible for everything wrong with our economy. We just hit 4% GDP and this "genius" said that 3% was impossible.
kcotte59 (1 month ago)
Hey, john Wayne. You can't act worth a crap but you won an Oscar anyway. So don't bitch.
Hyperpandas (1 month ago)
+John Wayne The buybacks increased stockprices. They don't deflate a bubble, they, along with mergers and acquisitions, expand one. And it looks like your also trying to suggest a liquidity benefit with your reference to debt, but I couldn't follow your point. But that has nothing to do with my point. If a policy cost the government 100 billion and resulted in a growth of x%, do you agree that it would not be a "pro growth" policy if leaving it with the government, or a different policy, would have resulted in 2x%? That's the point of the opportunity cost question. As for pollution, it's fallacious to conclude that higher pollution is indicative of stronger growth. It can be a byproduct, but it is a cost. You can also have pollution and no, or negative, growth. Conflating them is an error.
John Wayne (1 month ago)
I also forgot to mention that stock buybacks aren't even necessarily bad. It frees up investment money, allowing investors to invest in smaller companies, which allows them to grow and create more jobs.
John Wayne (1 month ago)
+Hyperpandas Both your points don't matter for this reason: their negative consequences exist in the future, but the positives exist now. Almost every good economic policy works this way. It's how debt in general works. Taking on debt is "good" because you have money to spend now, but you eventually have to pay it back with interest. For your first point, that had to happen. There was no (practical) way to avoid it. The stock market was in a bubble due to essentially 0 interest rate money. It's similar to a broken door. You avoid fixing it because you need money for other things, but that doesn't mean you weren't going to fix it once you had the money. Just because they spent MOST of their money on buybacks, does not mean that they didn't spend any money on jobs. Even one job per company would be worth it. The second point is not even really a point. Are you arguing that the industrial revolution (which caused insane amounts of pollution and health problems) wasn't one of the greatest things to happen to the economy?
Hyperpandas (1 month ago)
+John Wayne Then it depends on the opportunity cost on those policies, doesn't it? The estimatated cost of the tax cuts is 1.5 trillion or so over ten years, and the first year had most of the tax savings put into stock buybacks. Can we agree that that isnt an especially efficient "pro growth" policy? As for environmental dergulation, have you considered negative pressures pollution can put on growth?
Michael Wright (7 months ago)
How many times does Krugman get to be wrong before people realize he is not very good at macro economics?
kcotte59 (1 month ago)
This is YouTube, nobody is keeping score, and nobody even knows how to keep score.
SuperVerst (7 months ago)
I was thinking pretty much the same thing. For a noble peace prize winner, he's not been very accurate.
Jack smith (7 months ago)
This guy is like Biden with foreign policy, always wrong. He predicted a market crash and major recession after Trump was elected. Clueless Krugman.
kcotte59 (1 month ago)
If Clinton or Biden was elected we might as well just surrender ourselves to the invading forces before they even arrive. Maybe they won't torture us if we don't resist.
Patricia Branigan (8 months ago)
Not the Democratic party that the Republican moles, the Clintons, turned into Republican Lite.
kcotte59 (1 month ago)
You can't spend more than you make, so if you want to have fiscal stability being a democrat just doesn't work. Just like democrats,
Patricia Branigan (8 months ago)
Who is this stupid woman?
Drake Koefoed (8 months ago)
I don't think I can conceive of a worse way to spend $2T.
kcotte59 (1 month ago)
They aren't spending anything . They will be spending $2T less than they otherwise would have. You got it backwards. 180-degrees.out of sync with reality.
kcotte59 (1 month ago)
Spend? I hope the Gov't didn't spend the money they are not getting. How do you know what the people who are now paying less in taxes are going to do with the money that they saved. They should also get a refund for the taxes that they overpaid in previous years, They may donate it all to charity. The worst thing that ANYONE can do with their money is to give it to the government because they will waste it and demand more.
Red894336643 (8 months ago)
There was never any strong popular demand for the tax cuts.......when has there ever been a demand for higher taxes? Does this guy listen to himself.
kcotte59 (1 month ago)
People who currently don't pay taxes and people who plan on not paying any taxes in the future want higher taxes. If everyone is poor they can feel better about themselves.
Red894336643 (8 months ago)
I thought Krugman said if Trump got elected the economy would collapse? Did the economy collapse, I missed it?
kcotte59 (1 month ago)
you must have missed it because the sky was falling simultaneously. The same thing that happened to me.
Rob Hermany (2 months ago)
hello from the future
Pmts Pmts (9 months ago)
he said no way to get 3 percent last year..
edge2991 (9 months ago)
Wow, my company created 7 new jobs and moving us to a different larger facility, i have over 10k in savings i feel great thanks #trumpcuts #maga200
kcotte59 (1 month ago)
Yeah, but that is only one company. What about my needs? BTW, can you loan me $10k?
Gustavo Carvalho (5 months ago)
7 new jobs. 10k savings LMAO
Erik Haley (9 months ago)
I prepare tax returns for a living, and I can vouch that average working class people will definitely be seeing huge tax savings come next tax season. It may not help out people who live in high tax cities/states because of the property tax deduction cap at $10,000, but for everyone else it’s a welcome relief.
kcotte59 (1 month ago)
new jersey property tax rate is double the next highest state.
Dave Knox (10 months ago)
Krugman SOB crook scum full of Bull and lies shill for deep state dumb ass!!!
Orangutan (10 months ago)
Krugmann won’t be happy till we’re under full communism
kcotte59 (1 month ago)
he will be happy when one of his predictions comes true. He never will be happy.
kcotte59 (1 month ago)
But economists will be unemployed.,
J. Muller (10 months ago)
Tell this to the millions who now get more money in their checks, and that will go away if the dem.'s get power. Don't let that happen.
Dom Trussardi (5 months ago)
J. Mueller is too much of a pussy to just admit he loves rich cock in his ass. Don't take it as anything more than that, Mario.
Mario Almada (5 months ago)
LOL 3 dollars a month. I wonder what wonderful things they buy with so much money. Meanwhile, the really rich ones are getting millions of dollars a month thanks to this TREMENDOUS tax cuts. Well done kid.
Dom Trussardi (6 months ago)
LOL...what a dork. MILLIONS ARE GETTING MORE MONEY, SCHMEEPS! stfu, mook.
Tom James (10 months ago)
too bad thats its written in the tax cuts and jobs act that the cut for average people disappears by 2027
Walter S. (10 months ago)
What Conserva tards believe is that every company has the urge the BIG URGE to invest in capital expenditures, in increasing their operational expenditures. I wouldn't if I were to run a company. I would park it or do stock buybacks. Krugman hit the nail on the head.
kcotte59 (1 month ago)
Only a liberal could say that they were getting screwed because someone is paying less. What someone else does has absolutely nothing to do with them and they have no right to say that it does. It never was their money, and it never should be.. Now everyone should understand what a liberal is.
kcotte59 (1 month ago)
We didn't believe it, you did. Sucker.
kcotte59 (1 month ago)
If the companies choose to keep the money that they saved from the tax cut and not invest it they have every right to do so. They earned it.
Red894336643 (8 months ago)
Walter S. You couldn’t be more wrong Issued is that can be sold, Outstanding is stock that has actually been sold. Repurchases stock is call Treasury Stock. You failed, should have looked up on Google. You tried to wing it and screwed it up. Your stupid. Do you know the main difference between Preferred Stock and Common Stock?
Walter S. (8 months ago)
Red894336643 go back to work kid. I'm busy. issued are those sold and outstanding are those not reacquired. someone who calls out saying I'm some training irs agent and saying I have an accounting degree has some self esteem major malfunction problem. very sad, turd.
ConservativeAnthem (10 months ago)
What the hell is wrong with this guy? He only cares about politics, not economics or being right. Failure!!
Серж Шуляченко (10 months ago)
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Roger Nevez (10 months ago)
such a demogogue
night mark (10 months ago)
The biggest scam in wall-street is this time is different. First the Republicans tell us that when the rich will get richer also you will get richer, now they peddle say if the rich get richer you might get a job because they will hire more people. Yup this time is different the rich and the poor got more dumb.
kcotte59 (1 month ago)
How can letting the people who earned money decide how it is spent be a scam? It actually is an anti-scam. Especially considering that the US government does not spend money nearly as carefully, efficiently, or wisely as I do. But they are better than my wife is with my money. Her tax rate is like 90%.
kcotte59 (1 month ago)
poor people couldn't get any dumber than they already were. So much opportunity in this country there is no excuse for being poor except that you want to be poor or you don't like to work.
kcotte59 (1 month ago)
It was their money to start with, every penny. They are not getting any more, they only are paying a little bit less which is still a lot more than you are paying.
Mike (10 months ago)
fake news
kcotte59 (1 month ago)
+Not Todd Howard People who paid a lot in taxes now pay a little bit less. How can ANYONE complain? Nobody is paying more than they were before, and if you don't pay any taxes you can't pay any less. I hate liberal think, because they don't.
Not Todd Howard (8 months ago)
Mike Conservatard doesn't understand math World shocked!
Tom James (10 months ago)
what are you saying, that companies ARE investing? theyre not. this is easily measurable
Nick Golina (10 months ago)
CNN one o one: Ignore decades of history and create false equivalencies because Republicans lie and CNN still needs to call it even. This isn’t journalism
kcotte59 (1 month ago)
Republicans pay taxes and democrats receive benefits. You are fortunate to get anything so don't demand more or complain that things aren't fair. How do you think that those who are paying for EVERYTHING feel. Put yourself in their expensive shoes for once.
kcotte59 (1 month ago)
Ignore decades of history of failed government attempts to make poor people less poor through government programs of wealth redistribution. It only makes things worse.
takoleta (10 months ago)
Not surprised that the tax cut for Corporate America is not creating jobs in the USA; for those who advocated for the tax cut, where are the jobs and pay raised?????? 😂🤣😅😜
kcotte59 (1 month ago)
Nobody GOT anything from the tax cut. But many of us ARE PAYING less. There is a difference, but those who don't pay taxes wouldn't understand.
kcotte59 (1 month ago)
If someone actually deserves a raise they will either get it from their current employer or their next employer. and If they don't than they didn't really deserve a raise..
John O'Mara (3 months ago)
Both of those things have happened.
makingadifference (6 months ago)
+James Mueller If the tax cuts haven't done anything then why are there more jobs than people to fill them? Common sense suggests companies are doin very well and thus can afford to hire more and more workers. That is a direct result of the tax cuts. Obama led the slowest recovery on record because his policies weren't progrowth. That's a fact. Democrats cannot lead a booming economy because they always advocate for raising taxes which by definition is antigrowth. Unfortunately people wont get their tax returns until after the midterms which would really drive home the point.
James Mueller (6 months ago)
+ makingadifference - The tax cuts haven't done anything. Job creation is actually slowing compared to Obama's last years in office.
Joshua Bare (10 months ago)
I do agree that wages could be higher due to the corporate tax cuts but in all honesty the money will most likely be made for making more money and not raising wages. That’s life.
kcotte59 (1 month ago)
If you legislate higher wages inflation will eat up any gains made in income. Tax cut = higher wages without burdening employers and causing inflation. Genius.
kcotte59 (1 month ago)
+Devonic Poor people can become rich and rich people can become poor without government intervention, Government cannot help the middle-class or poor, they can only help themselves. Trying to help them through wealth redistribution just creates a fake and unsustainable situation . People cannot be made successful they must become successful.
Devonic (1 month ago)
kcotte59 But as a society is it better to have a strong middle class and help out poor people, or to make rich people richer...? It seems the stock buy backs just went into the rich when we want it to help out the middle class and the poor.
kcotte59 (2 months ago)
the rich getting richer does not make the poor any poorer. And vice versa.
batsha (10 months ago)
It's sad when he's trying to tell cnn the truth about the scam
kcotte59 (1 month ago)
What scam? Nobody lost anything.
kcotte59 (2 months ago)
His scam? He sells his classes for big money, and he is wrong about almost everything.
makingadifference (6 months ago)
Only, he's ignoring reality. All financial news are good. Buybacks are good for shareholders who happen to be us! Why they act like shareholders are aliens is ridiculous.
batsha (10 months ago)
Yup so no investment. Stop lying cnn still could do what? we know it was a scam it's time we hold all of these crooks accountable! Vote in nov for anyone who tells the truth about this tax scam
kcotte59 (1 month ago)
I vote Republican exclusively, so I never have to worry about voting for scammers or crooks. How could a tax cut possibly be a scam anyway? That makes no sense.
kcotte59 (1 month ago)
The graduated income tax rate is the biggest scam. Everyone should pay the same % rate on all income, flat tax rate with no deductions for anything. Just like sales tax., it sure would simplify things , make everything transparent and erase a lot of thoughts that high earners don't pay their fair share in taxes.