PAUL KRUGMAN “EVOLVES” ON YET ANOTHER ISSUE TO ALIGN HIS ECONOMIC VIEWS WITH PROGRESSIVE POLITICS: Krugman: The Economics of Soaking the Rich.
Krugman argues in favor of marginal tax rates in the 80% range for the “rich.” Economist Bill Anderson comments on my Facebook page (reprinted with permission): “At the 2004 Southern Economic Association meetings in New Orleans, I asked Krugman in a room full of economists if he believed we should go back to the 1980 top rates [of 70%]. His answer: ‘Oh, no! Those rates were insane!’ His exact words. So, it is official; Krugman now endorses insanity. How appropriate.”