Call it Socialism but Paul Krugman Likes 91% Tax on Selfish Millionaires

[FrankRep]

Call it Socialism but Paul Krugman Likes 91% Tax on Selfish Millionaires — They Don’t Help Society Anyway (http://www.theblaze.com/stories/call-it-socialism-but-krugman-likes-91-tax-on-selfish-millionaires-they-dont-help-society-anyway/)


The Blaze
October 3, 2010

YouTube - Call it Socialism but Paul Krugman Likes 91% Tax on Selfish Millionaires (http://www.youtube.com/watch?v=EIF234_LsmA)



“People contemplating that second $100 million might say, ‘Is this really what I want to do with my life?’ And that would be a terrible thing if you thought that, on average, that people who acquire that second $100 million are doing great things for society, but I think we‘ve gotten a pretty good lesson that that’s mostly not true.”

[Sola_Fide]

Statism is a religious delusion.

[Imaginos]

91% tax is not Socialism.
It's called Communism!
:mad:

[Jordan]

1) Why is he flippin' the bird to the camera the whole time?

2) Why the hell would anyone want to make their second $100 million if they were only going to see $9 million of it? Who would even bother to risk the money to start a business that makes $100 million a year if they keep only $9 million?

[ClayTrainor]

The only solution Krugman ever seems to offer is to basically point some guns at some more people.

Does Krugman ever debate? How can someone go about getting into a debate with him? I would love to see him confronted and exposed by an Austrian Economist.

[wormyguy]

He imposed a word limit to the responses on his blog, because people kept on posting long point-by-point rebuttals.

[ClayTrainor]

He imposed a word limit to the responses on his blog, because people kept on posting long point-by-point rebuttals.

Yea, he got pwned.

Paul Krugman Gives Up (http://www.americanthinker.com/2010/08/paul_krugman_gives_up_1.html)

[Sola_Fide]

Yea, he got pwned.

Paul Krugman Gives Up (http://www.americanthinker.com/2010/08/paul_krugman_gives_up_1.html)


Funniest thing I've read in a long time.

[EvilEngineer]

If there was a 91% tax... I'd say F u government and hire 91million worth of services from private military contractors.

[nate895]

I am sorry, but the first word that enters my mind when I read the name or see the face of Paul Krugman is always "douchebag."

[brandon]

He didn't say he likes that tax rate. He was jut giving an example of how we used to have more tax brackets higher up the income scale. No reason to put words in his mouth.

[low preference guy]

He didn't say he likes that tax rate. He was jut giving an example of how we used to have more tax brackets higher up the income scale. No reason to put words in his mouth.

But he justified the idea by saying that people making that much money don't do anything good to society anyway. He didn't say it explicitly but most will take as if Krugman approved of it.

[freshjiva]

This should do away with whatever credibility this hack of an academic had left.

...but he's employed by an ivy league institution.

[axiomata]

I am sorry, but the first word that enters my mind when I read the name or see the face of Paul Krugman is always "douchebag."
My first word is an adjective: smug

(The second word however is also douchebag.)

[paulitics]

Hypocrite. Krugman himself is a millionare, and yet he does not send 91% of his paycheck to the IRS. I would venture a guess that he probably has the best accountants to avoid as much tax as possible. The man is a pure communist. he wanted to nationalize all the banks. I really hate this prick.

[Dreamofunity]

Because Krugman has done great things for society, and Bill Gates, not so much.

[RileyE104]

Krugman and anyone who thinks like him is an idiot...

How are we going to tax millionaires, even a cent, if they move out of the country?

It doesn't take a rocket scientist to figure that shit out...

[mczerone]

Krugman and anyone who thinks like him is an idiot...

How are we going to tax millionaires, even a cent, if they move out of the country?

It doesn't take a rocket scientist to figure that shit out...

But then "we need" exit-taxes, and "global partnerships" to extradite those pesky "tax-evaders".

It's not pretty, but Krugman has all the answers about what "we" need to do.

The thing that really gets me is that Krugman claims to be able to make value judgments about other people's money; certainly some people just "make" that extra money without having a need for it - but most people are only out to make that much money because they know what they will do with it, like reinvest in the company, invest in new startups, give to charity, buy extravagant houses, or set up a trust for their progeny. Who is Krugman to say that these things aren't "good", and redistribution to the unproductive and bureaucratic, the political, the military and other lobbied industries, and the popular is somehow better?

In fact, if Krugman wants to benefit the poor, he should cheer for the rich - the more money that they have accumulated, the less each dollar means on their margin, and the more likely the rich will be to spend (which is the Keynesian golden goose) and give to the needy. But somehow the law of diminishing marginal utility doesn't apply to gov't, and they will somehow "do more" if they have one large stack of money than a few thousand people each having free will to do what they wish with their money - including making more efficient use of resources to earn more money.

What Krugman espouses is not economics, it is pseudo-science used to justify jealousy, theft, and the state apparatus itself. Krugman is a court-economist akin to Nero's court historians trying to justify the great fire of Rome as a benefit, because it allowed the state (then "empire") to take more lands and "improve" them according to Nero's vision. The fire was a great thing, just as Krugman will contend that WWII was a great thing, that gigantic marble buildings erected to former tyrants are great things, that repaving roads increases wealth, that a broken window puts glassmakers to work.

Don't take my word for it, look to Bill Anderson's Krugman in Wonderland (http://krugman-in-wonderland.blogspot.com/) for weekly deconstruction of the Krugman missives.

[ChaosControl]

I certainly wouldn't work if I was taxed 91% on my income.
Granted if I was a millionaire I'd be donating 90% of my income to charity already. Problem is our stupid government only allows up to 50% your AGI for charitable deductions and so you'd be taxed on money you don't have, essentially discouraging charity.

If I was taxed at 91%, I couldn't afford to give away my money when only 50% of my AGI can be deducted.

91% tax would make generous millionaires forced to be more selfish if they want to even be able to afford such a perverted tax amount.

[tjeffersonsghost]

91% tax is not Socialism.
It's called Communism!
:mad:

From 1936 to 1981 we had a rate from 63% to 94%.

http://www.truthandpolitics.org/top-rates.php

Were we communist? Did everyone quit working? I'm not advocating a 91% tax rate by all means but I do want to point out that if government cant quit spending then taxes do need to go up, period. Maybe if people had to actually start paying for this big government guys like Ron Paul might start to look even better.

As far as Im concerned everyone on here should hope for a huge tax increase. As long as the politicians can keep big government and just adding it to the debt it will keep people at home like it has the past 30 years. Start making people sacrifice, well all of a sudden maybe a guy like Ron Paul was right all along about big government. Considering it's the most wealthy who run the agenda in this country via the corporate/government oligarchy we have rolling I think making them sacrifice might give them a change of heart on big government.

[ctiger2]

eek! Klueless Krugman is a very effeminate wo"man".

[denison]

he not a woman, just a coward in a man's body. and there are plenty of those running around.

[Standing Like A Rock]

eek! Klueless Krugman is a very effeminate wo"man".

lol

When he started talking, I was thinking, "why aren't the woman's lips moving? Is there something wrong with the video?" But then I realized that it was Krugman talking, and that he just sounds like a woman.