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Paul Krugman @paulkrugman
, 4 tweets, 1 min read Read on Twitter
The political dynamics of the Trump trade war are going to be interesting. Even the first skirmishes are producing notable harm for some Americans 1/ nytimes.com/2018/06/22/us/…
Already considerable dismay among pro-Trump rural voters 2/ cnn.com/2018/06/22/pol…
But as I see it, very hard for Trump to back down -- or for anyone else to offer him a face-saving way out. So they're already trying to place the blame on sinister speculators 3/ ft.com/content/28c265…
My prediction (if it hasn't already happened): they'll insist that it's a conspiracy on the part of George Soros, or maybe rootless cosmopolitans in general, perhaps in collusion with MS-13. And you probably think I'm joking 4/
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Good piece from Bloomberg pointing out that Sweden actually has a top marginal rate of almost 70% -- and grass is hardly growing in the streets 1/ bloomberg.com/news/articles/…
I'd also point out that while the US federal top rate is only 37 -- it was 39.6 before the TCJA -- there are also state and local taxes. If you're a high earner in New York City, you pay almost 9% state and almost 4% city tax at the margin 2/
Plus sales taxes -- 4.5% state and 4% city -- also reduce the purchasing power of a marginal dollar earned. Put all of this together and high earned-income individuals (as opposed to capital incomes) pay a marginal rate of 55-60% 3/
Read 6 tweets
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Not really relevant to this article, but it reminds me of what it was like being a young international trade economist. At that time the field was dominated by Canadians and Australians 1/
Why? English as a first language was an advantage, given its dominance of the journals; but Americans didn't really believe the rest of the world existed (not sure why there weren't more Brits) 2/
And what that means is that in my memory, two things are indissolubly linked: seminars on trade theory, and lots and lots of beer. I think I was in my late 30s before I even realized that an economics conference could run on wine instead 3/
Read 3 tweets
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There's a political puzzle that has worried me for a while, and is highlighted by some of the responses to today's column. What some of the pushback against @SenWarren comes down to is "I feel like she's talking down to me" 1/ nytimes.com/2019/01/07/opi…
The reason this is puzzling is that she really isn't. She does try to explain issues, but there isn't any condescension I can find -- and nothing like the sneering contempt for his supporters that shines through everything Trump does and says 2/
Yet this is a real thing, not to be wished away. And I don't think it's just sexism -- in general, politicians who try to understand issues get grief from a segment of voters who seem perfectly happy with politicians who clearly consider them chumps 3/
Read 5 tweets

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⚖️ShutDownTrump⚖️

📌Trump Says Shutdown Could Go On ‘Months or Even Years’

📌Pence privately lobbied House GOP to vote against bills to reopen gov’t

📌”The US federal judiciary has enough funding thru 1/ 11.”

📌Trump adm gets $10k raise

📌Mueller GJ gets 6 month extension
⚖️ShutDownTrump2⚖️

📌ES:”Donald Trump is either going to be impeached by the Congress or impeached at the ballot box. It's really a race to which one will happen first." I'd prefer that voters wield the power in 2020, but Congress won't turn a blind eye, either.”

#Longhaul
⚖️ShutDownTrump3⚖️

AS: “When you push reckless policies that squander our resources, defy our values, leave 800,000 federal workers unpaid and millions of Americans without needed services, you don’t need to declare a national emergency.

📌You are the national emergency.”
Read 66 tweets
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#Trump's last campaign rally of the 2018 mid-term election season is scheduled to start in about ten minutes. It's his THIRD rally of the day. Dude is likely exhausted and I doubt this rally will be less "speech" and more "incoherent tirade".
At any rate, here's the thread for it! Follow/mute at will!
Current Pre-show music is the Rolling Stones' "Sympathy for the Devil." I couldn't make this up if I tried.

#Trump #Truprally
Read 44 tweets
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Interesting on its own, this story about how Russian trolls pushed vaccine debates in the US includes several other key points that are worth examining. THREAD
www-m.cnn.com/2018/08/23/hea…
First of all, it's fascinating to me just from the standpoint of how even the most absurd propositions can draw wide audiences, when thinking people should be able to dismiss them out of hand. 2/
Second, the fact that we will argue ad inifinitum about subjects that don't deserve a second look is a serious indictment of something - either our inherently American contrariness or the ground-leveling effect social media has. 2/
Read 26 tweets
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"Trump has used Harley-Davidson as an example of a US business that is being harmed by trade barriers. Yet Harley has warned consistently against tariffs, saying they would negatively impact sales"

Harley, hit by tariffs, shifts some production overseas apnews.com/6c8942f7363743…
Important issue highlighted by @riotwomennn: are tariff exemptions determined by bribes?

Corker: "22,000 companies have asked for exemptions.There is no basis to deal with them. Are they going to grant these exclusions based on political contributions?"
Trump’s trade war with the European Union is going to cost Harley-Davidson as much as $100 million a year and force the manufacturer to shift production out of the U.S. bloomberg.com/news/articles/…
Read 232 tweets
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1) This is my thread for #Qanon posts beginning the evening of January 29th, 2018.

The theme of this series:
Shifting the narrative—the #NunesMemo is about to be released.
2) Here's the first #Qanon post from Jan 29. Due to the removal of FBI Deputy Director Andrew McCabe and the impending release of the #NunesMemo, the deep state media is gearing up for a battle to control public perception.
3) #Qanon wrote:
Nation on alert.
Firing RR = block Mueller.
Firing RR = set up to firing Mueller.
Firing RR = Red line.
#NunesMemo
Read 48 tweets
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Trump Hotels' website still lists Trump SoHo New York among its properties in the Our Hotels menu. Select its name though to access its page and there's a message about it being renamed

bit.ly/2EPCSy1
National politics correspondent for Newsweek, Nina Burleigh, with a fun find on a TV above the bar at the Trump Hotel DC bit.ly/2E37QRR
Two errors in the 2nd graf of Breitbart's Trump Hotel DC article:
-holdings aren't out of @realDonaldTrump's hands: trust isn't blind & he can profit from it
-Trump Org told Congress it was estimating foreign receipts—not auto donating in full
bit.ly/2CpL7z2
Read 1562 tweets

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