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Paul Krugman @paulkrugman
, 3 tweets, 1 min read Read on Twitter
It's true: according to Axios, it's the United States Fair and Reciprocal Tariff Act. But it wouldn't be the first case of an acronym gone bad axios.com/trump-trade-wa…
Gerald Ford had a Council on Wage and Price Stability, and as an econ student at the time I heard everyone referring to it as "cowpiss" nytimes.com/1974/09/24/arc…
Not to mention Nixon's Committee to Re-elect the President -- yes, CREEP
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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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Semana 76 de Donald Trump en la Casa Blanca. Buena onda con México, mala en los mítines y un tenso viaje a Europa se aproxima...
(Fotón de @Dougmillsnyt)
2 julio. Lunes. El presidente EEUU habla con el ganador de las elecciones en México, Andrés Manuel López Obrador, durante 30min. Trump dice estar seguro de que se llevarán muy bien. Y cuenta que le conoció hace años y supo que sería presidente
Read 64 tweets
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What the fuck just happened today?

⚡️ Day 529: Art of the FART.

whatthefuckjusthappenedtoday.com/2018/07/02/day…
1/ Michael Cohen will "put family and country first," saying his "first loyalty" isn't to Trump. "I am not a villain of this story, and I will not allow others to try to depict me that way," Cohen said.

abcnews.go.com/Politics/micha…
2/ Susan Collins will not support a Supreme Court nominee who has displayed "hostility" toward Roe v. Wade.

nytimes.com/2018/07/01/us/…
Read 11 tweets
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🌿Rest Well🌿

Next week promises fireworks & bombshells—stay frosty!

Americans young & old took to the streets of US cities to say "Families Belong Together" & did so peacefully.

#AbolishICE is a RU divisive propaganda issue/RAM intended to inflame & subvert the midterm Elex.
🌿Rest Well2🌿

Angela Merkel and her vision of Europe win yet another round against the populists.🤗

North Korea working to conceal key aspects of its nuclear program

TRUTH: the US has NO real ACCORD with NK - total charade...

RNC Chair Broidy intends to stop hush payments
🌿Rest Well3🌿

Sen. Duckworth: does not support abolishing ICE, b/c it reflects the policies of the WH. #ReformICE

Trump's IRS nominee failed to disclose he owns property at Trump's Int’l Hotel Waikiki & Tower.

British Air Force Bombed pro-Assad Forces; Lost Major Cargo Plane
Read 36 tweets
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Trump: Day 527
-121st Day at a Trump Golf Club
-164th Day at a Trump Property
-Sz Has "Country Running Like a Top"
-Claims Just 250k in Extreme Poverty
-IRS Nominee Owns Units in DT Hotel
-Immigrants Could Be Jailed 4 Years
-Charging Families $4k to Free Kids
Add...
Day 632 since Donald Trump admitted to sexual assault — yet he’s still in the Oval Office
Add...
Day 484 of NO EVIDENCE produced by Trump that his phones were tapped by Obama. #fakenews #TrumpLies
Read 38 tweets
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(Thread) I still see Mueller-skeptics asking “So what crimes did Trump commit? Last I heard Comey said there was no evidence.”

You can always show them my list: russia-investigation-summary.com/crimes/
(includes only TrumpRussia related crimes, not, for example, Cohen's business crimes).
1/ For people who don't like to click and read, we can tweet out an impressive list:

Accessory After the Fact
Aiding and Abetting
Bribery
Computer Fraud and Abuse Act
Conspiracy (general)
Conspiracy to Defraud the United States
False Statements
Election Campaign Act violations
2/
Federal Employee & Personal and Family Relationships (CFR 2636.502)
Fraud
The Hatch Act
Insider Trading
The Logan Act
Money Laundering
Obstruction of Justice
Obstruction of Proceedings before Departments, Agencies & Committees
Misprison of Felony
Perjury
RICO
Read 12 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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