Krugman on Catfood Commission: Unserious People

[Kurt_and_Hunter]

November 10, 2010, 1:43 pm
Unserious People
PAUL KRUGMAN


OK, let’s say goodbye to the deficit commission. If you’re sincerely worried about the US fiscal future — and there’s good reason to be — you don’t propose a plan that involves large cuts in income taxes. Even if those cuts are offset by supposed elimination of tax breaks elsewhere, balancing the budget is hard enough without giving out a lot of goodies — goodies that fairly obviously, even without having the details, would go largely to the very affluent.

I mean, what’s this about? There is no — zero — evidence that income taxes at current rates are an important drag on growth.

Oh, and they’re talking about raising the retirement age, because people live longer — except that the people who really depend on Social Security, those in the bottom half of the distribution, aren’t living much longer. So you’re going to tell janitors to work until they’re 70 because lawyers are living longer than ever.

Still, I guess this is what it takes to get compromise, if by compromise you mean something the center-right and the hard right can agree on.

Update: It’s here. And it really is that bad. The idea that co-chairs of a commission whose charge is fiscal sustainability should take it upon themselves to (a) declare that federal revenue must not exceed 21 percent of GDP — that’s right, putting a cap on receipts and (b) call for reducing the top rate from 35 to 23 is just awesome.

http://krugman.blogs.nytimes.com/2010/11/10/unserious-people-2/

http://www.fiscalcommission.gov/news/cochairs-proposal

.

[Hannah Bell]

1. k&r

[mdmc]

2. So Krugman and Bernie both see this as BS

really no need to go much further..

[Kurt_and_Hunter]

3. To repeat: We are going to fix the deficit with tax cuts

"The idea that co-chairs of a commission whose charge is fiscal sustainability should take it upon themselves to (a) declare that federal revenue must not exceed 21 percent of GDP — that’s right, putting a cap on receipts and (b) call for reducing the top rate from 35 to 23 is just awesome."

[charlie]

12. As long as they're working outside their purview

suggesting a revenue floor would seem to be more in line with their task... what was it again?... oh yeah, DEFICIT REDUCTION!

Geesh, what a pair.

[Kurt_and_Hunter]

22. Since tax cuts pay for themselves...

...then why not just zero out the whole concept?

Surely eliminating taxes entirely would balance the budget on the spot.

[Luminous Animal]

4. So you’re going to tell janitors to work until they’re 70 because lawyers are living longer

And coal miners, and brick layers, and nurses, and factory workers, and cashiers, etc. (Yes, cashier - standing up 8 hours a day is, ultimately, debilitating.)

[jgraz]

5. This is such a fucking scam

There's simply no way an intelligent person could believe this will do anything to address the deficit.

[FiveGoodMen]

24. "no way an intelligent person could believe this will do anything to address the deficit"

Let's all remember that when the president backs it.

He IS intelligent, so ...

[wakemewhenitsover]

39. Exactly. And here's the only kind of "bi-partisanship" that ever happens these days...

"...if by compromise you mean something the center-right and the hard right can agree on"

[Guy Whitey Corngood]

34. "THANK YOU SIR. MAY I HAVE ANOTHER!" The new Democratic motto. nt

[Solly Mack]

6. k/r

[Name removed]

7. Deleted message

Message removed by moderator. Click here to review the message board rules.

[daleanime]

8. I expected stupid....

but this....'joke' takes dumb to new levels that only Sarah Palin's hair dresser had to deal with before.

[Catherina]

14. If you want stupid, read their introduction

Our Guiding Principles and Values
1.
We have a patriotic duty to come together on a plan that will make America better off tomorrow than it is today

America cannot be great if we go broke.Our economy will not grow and our country will not be able to compete without a plan to get this crushing debt burden off our back.

Throughout our history, Americans have always been willing to sacrifice to make our nation stronger over the long haul. That’s the promise of America:to give our children and grandchildren a better life.

American families have spent the past 2 years making tough choices in their own lives. They expect us to do the same. The American people are counting on us to put politics aside, pull together not pull apart, and agree on a plan to live within our means and make America strong for the long haul.

Our Guiding Principles and Values

2. The Problem Is Real –the Solution Is Painful –There’s No Easy Way Out –Everything Must Be On the Table –and Washington Must Lead

We must stabilize then reduce the national debt, or we could spend $1 trillion a year in interest alone by 2020.

A sensible, real plan requires shared sacrifice –and Washington should lead the way and tighten its belt.


3. It Is Cruelly Wrong to Make Promises We Can’t Keep

Our country has tough choices to make. Without regard to party, we need to be willing to tell Americans the truth.

...

9. Reform and Simplify the Tax Code

Broaden base, lower rates, and bring down the deficit.

Make America the best place to start and run a business and create jobs.

Cap revenue at or below 21% of GDP.

http://www.fiscalcommission.gov/sites/fiscalcommission.gov/files/documents/CoChair_Draft.pdf

[TexasObserver]

9. recommend

[salvorhardin]

10. What's that sound I hear?

Oh, right. It's Grover Norquist filling his bathtub.

[pa28]

11. This is what actual class warfare looks like.

Even a watered down version of these recs in the final report will cement the trend of regressive taxation and wealth distribution that is killing the middle class.

Seriously now, giving a massive tax cut to the rich paid for with a brutal austerity program for everybody else?! Simpson has no scope to be proposing tax cuts in the first place and that along with the political agenda apparent in the initial recs should be reason enough to disband this commission.

[coti]

13. Absolutely. Time to hit the trenches. nt

[Catherina]

15. +1 n/t

[Ignis]

21. Well stated.

:thumbsup:

[dionysus]

16. which is why i see no chance of any of this happening.

[Riverman]

17. How about Zero Social Security Income for those who earn over $250K?

[Starry Messenger]

18. k&r

[suffragette]

19. K&R

[QC]

20. Whose idea was this commission, anyway? n/t

[Johonny]

23. These people can't work to 70 even if they want to

Companies more and more want to push older people out the door for younger cheaper labor. Most companies simply aren't set up to have their current work force working until 70 or beyond.

[nashville_brook]

25. "unserious" isn't the word i'd use. it's insanity -- class warfare at its most vulgar.

[glitch]

29. "class warfare at its most vulgar"

cannot possibly be stated more clearly. :thumbsup:

[coti]

26. Kick nt

[ShamelessHussy]

27. and we got TWO fucking wars going on - this is fucking SICK!!!

:argh:

[glitch]

30. We've devolved from sociopathic to psychotic rather quickly.

And it looks like it's turning into 3 wars, at least from Pakistan's perspective.

[Dr.Phool]

28. Calling Mister Simpson, Mister Bowles......

The men in the white suits, with the big butterfly nets are here for you.

[unkachuck]

31. K&R....n/t

[Generic Brad]

32. I already have to work until age 70 for full SS benefits

How much higher does this #@&&^%$ commission expect us to wait until we receive full benefits?

[myrna minx]

33. K&R n/t

[Poboy]

35. k&r

[laughingliberal]

36. Boy, did he say a mouth full here:

<Still, I guess this is what it takes to get compromise, if by compromise you mean something the center-right and the hard right can agree on.>

Pretty much describes all the 'compromises' we've seen these past years.

[bullwinkle428]

37. These "deficit hawks" are looking for a "discussion" on the subject?

WELL, THEY'VE GOT A FUCKING DISCUSSION NOW!

[BrklynLiberal]

38. LISTEN TO KRUGMAN and STEIGLITZ!!!!!!!!!!!!!!!!!!!!! Someone wake up the White House!!!

We need to take to the streets like the French and the British...

People need to be awakened from their comatose state before we have totally lost our country to the Corporate Rwingnuts and their minions.