The Republican Recession and the Democratic Recovery (updated again)

[hfojvt]

15. just because YOU don't understand something

or want to pretend you don't understand something, does not mean that it makes no sense.

The math is fairly simple, if somewhat paradoxical at first glance.

Those who make more than $110,000 a year get a bigger tax cut than those who make less than $20,000 a year.

The average payroll tax cut of those in the bottom 20% was $145. The average payroll tax cut of those in the next 20% was $320.

The average payroll tax cut of those in the top 1% was $2,328. The average for those in the next 4% was $2,137.

$2,000 is a LOT more than either $145 or $320. Hence the richest 10% end up with 26.7% of the benefits and the bottom 40% end up with only 12.1%.

http://www.ctj.org/pdf/taxcompromise2010.pdf

Krugman should know this. Is he under obligation to tell us? Well, he is selling the payroll tax cut as "a good policy". Trying to sell it to progressives, people who generally like and respect him. Selling a used car without telling the prospective buyer about its bad transmission would be dishonest.

Krugman is selling trickle down tax cuts as a way to create jobs, without bothering to mention that they are trickle down.

The conscience of a liberal indeed.