In Which Bill Galston, Writing for the New Republic, Simply Doesn't Do His Homework...
Christy Romer Begs Congress to Grab the Low-Hanging Fruit

Ummm... Kevin...

Tyler Cowen quotes Kevin Drum:

Kevin Drum on fiscal stimulus: But despite all this, there's one pretty good reason to think that Tyler is basically right: tax cuts. Lefty economists might generally believe that increasing spending is a more efficient way of stimulating consumption than reducing taxes, but they'd almost certainly accept a big tax cut as an almost-as-good substitute.... [O]n the political side it's quite doable. Republicans would be persuadable because they love tax cuts and Democrats would be persuadable because it would help the economy. For Obama, then, it would be the best of all worlds: a fast stimulus that gets bipartisan support, something that boosts the economy while dampening the inevitable criticism he'd get for blowing up the deficit...

Kevin: there are no Republican votes for, say, a $500 per person refundable income tax credit. There are Republican votes only for tax cuts for the rich--things that further unbalance our income distribution.

We saw this in the ARRA, remember? 40% tax cuts, but not for the rich...

Comments