Paul Krugman is a liberal. He’s also untruthful on the topic of capital gain taxes. Like President Barack Obama and most liberal Democratic politicians, Krugman’s contortions about capital gains taxes are so pathetic you’d think he owned stock in Pinnochio Inc.… Read more ...
New York Times columnist Frank Rich accused the Kochs of plotting “a billionaires’ coup” to secure “corporate pork,” tax cuts, and a blank check for Wall Street bailouts. “What the Koch brothers have bought with their huge political outlays,” opined Times columnist Paul Krugman, “is, above all, freedom to pollute.” The New York Observer’s Yasha Levine concluded that the brothers are “not very” libertarian, as evidenced by their fondness for “using government subsidies to maximize their own profits.” The Democratic National Committee hammered Koch Industries for laying off 118 workers at a North Carolina plant: “The question for the Kochs is instead of spending money on secret campaigns to fill the government with candidates that will enact their special interest agenda, why aren’t they spending that money on saving those American jobs?”
If these attacks appear to lack a consistent theme, it’s because Democrats need the Koch bogeyman to accomplish so many political tasks.
What does Nobel laureate economist Paul Krugman have to say about the recent decline in consumer spending? Let’s take a look at his perspective and prescription, from the New York Times:
The long-feared capitulation of American consumers has arrived. According to Thursday’s G.D.P. report, real consumer spending fell at an annual rate of 3.1 percent in the third quarter; real spending on durable goods (stuff like cars and TVs) fell at an annual rate of 14 percent.