Monday, November 28, 2011
One quick other take
Paul Krugman talks about the importance of perception in looking at the economy (something this blog appreciates). Krugman talks about this in terms of deregulation, and I can see where he sees the continued support for deregulation as affected by who is doing well, considering the financial meltdown we just experienced (the continued support for deregulation in the alternate selective fact Republican/conservative universe). But I think the specific numbers in the table in his column - from 1947 to 1973 versus from 1979 to 2007 - say a lot more about the top tax bracket than about deregulation per se. Which, to me, explains Republican's desperation to make the Bush tax cuts permanent; their insistence, for example, that the top 1% are "job creators". Of course, those job creators are making more money than they ever have, but unless they see they can continue to make that money (without fear of additional taxation), then they will continue to not hire new workers.