Must-Read: Paul Krugman: Fantasies and Fictions at GOP Debate

Must-Read: Paul Krugman: Fantasies and Fictions at GOP Debate: “Modern G.O.P. economic discourse is completely dominated by an economic doctrine…

…the sovereign importance of low taxes on the rich–that has failed completely and utterly…. Bill Clinton’s tax hike was followed by a huge economic boom, the George W. Bush tax cuts by a weak recovery that ended in financial collapse. The tax increase of 2013 and the coming of Obamacare in 2014 were associated with the best job growth since the 1990s. Jerry Brown’s tax-raising, environmentally conscious California is growing fast; Sam Brownback’s tax- and spending-slashing Kansas isn’t…. Yet the hold of this failed dogma on Republican politics is stronger than ever, with no skeptics allowed. On Wednesday Jeb Bush claimed, once again, that his voodoo economics would double America’s growth rate, while Marco Rubio insisted that a tax on carbon emissions would ‘destroy the economy’…. If the discussion of economics was alarming, the discussion of foreign policy was practically demented…

September 18, 2015

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