Saturday, March 21, 2015

Paul Krugman on the fraudulent GOPlin budget

Here is the central message about the House and Senate budgets from Krugman's blog at NY Times.

... outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing. And the question we should ask is why.

One answer you sometimes hear is that what Republicans really believe is that tax cuts for the rich would generate a huge boom and a surge in revenue, but they’re afraid that the public won’t find such claims credible. So magic asterisks are really stand-ins for their belief in the magic of supply-side economics, a belief that remains intact even though proponents in that doctrine have been wrong about everything for decades.

But I’m partial to a more cynical explanation. [Scriber: So am I.]Think about what these budgets would do if you ignore the mysterious trillions in unspecified spending cuts and revenue enhancements. What you’re left with is huge transfers of income from the poor and the working class, who would see severe benefit cuts, to the rich, who would see big tax cuts. And the simplest way to understand these budgets is surely to suppose that they are intended to do what they would, in fact, actually do: make the rich richer and ordinary families poorer.

The core belief of the GOPlins is: that the rich are rich because they are deserving of the wealth; the poor (non-rich, really) are poor because they alone are responsible for their misfortune. Once you understand this core belief, all else follows.

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