Comforting the rich | Arkansas Blog

Monday, August 23, 2010

Comforting the rich

Posted By on Mon, Aug 23, 2010 at 6:38 AM

Paul Krugman happens this morning to confront head-on the comfort-the-rich policy espoused in a D-G interview this morning by 2nd District Republican candidate Tim Griffin:

We need to pinch pennies these days. Don’t you know we have a budget deficit? For months that has been the word from Republicans and conservative Democrats, who have rejected every suggestion that we do more to avoid deep cuts in public services and help the ailing economy.

But these same politicians are eager to cut checks averaging $3 million each to the richest 120,000 people in the country.

What — you haven’t heard about this proposal? Actually, you have: I’m talking about demands that we make all of the Bush tax cuts, not just those for the middle class, permanent.

Griffin repeats the mantra this is good for "small" busiiness and stimulative. Krugman has him covered:


So, for example, we’re told that it’s all about helping small business; but only a tiny fraction of small-business owners would receive any tax break at all. And how many small-business owners do you know making several million a year?

Or we’re told that it’s about helping the economy recover. But it’s hard to think of a less cost-effective way to help the economy than giving money to people who already have plenty, and aren’t likely to spend a windfall.

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