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Paul Krugman
@paulkrugman
, 4 tweets, 2 min read Read on Twitter
For those trying to illustrate the intellectual bankruptcy of modern conservatism, Stephen Moore really is the gift that keeps giving. I wrote last week about his monetary wrongness; now let's talk about state taxes. Here's a starting point: 1/
I've shown job growth for CA and KS starting in Jan 2011, when both Jerry Brown and Sam Brownback became governors of their respective states. Brownback pushed though big tax cuts, and Moore predicted a "near immediate" boom 2/ cbpp.org/research/feder…
He also predicted disaster in CA, dismissing the accelerated growth that was already visible a couple of years in 3/ heritage.org/trade/commenta…
And it won't surprise you to learn that Moore still refuses to acknowledge that the Kansas plan was a failure 4/ alliedprogress.org/news/a-tax-day…
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Paul Krugman
@paulkrugman
On a lighter note: Tyler Cowen is wrong about London and New York. It's true that long ago I found London a more pleasant place. But these days the roles are reversed: New York is more livable, and less dominated by money-mad ostentation 1/ bloomberg.com/opinion/articl…
Part of the problem is that the old line about New York is all wrong: it's a great place to live, but I wouldn't want to visit here, or at least not without local friends to steer me away from the tourist traps 2/
I mean, 5th Avenue near the Empire State Building is a heaving sea of humanity -- but so is Piccadilly Circus. Both are, as Yogi Berra would say, places nobody goes because they're too crowded 3/
Read 5 tweets
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Paul Krugman
@paulkrugman
I'm amazed and shocked that almost none of the reporting on the troubles facing Ken Cuccinelli as a potential DHS official mention his past crimes against science and the future of humanity 1/
For those who don't know, as Virginia AG Cuccinelli wasn't just a climate denier: he tried to criminalize climate science, with a relentless campaign of personal destruction against scientist Michael Mann 2/ ucsusa.org/center-science…
This was real Spanish Inquisition stuff. Nobody with that track record should ever be allowed any role in public life, ever: we're talking about anti-intellectual thuggery. Letting him loose on immigration ... 3/
Read 3 tweets
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Paul Krugman
@paulkrugman
As far as I can make out, Powell didn't say anything different from current Fed policy. Of course the Fed will respond to events. But his timing made investors think that he was signaling dovishness plus, perhaps, willingness to bail out a Trump trade war 1/
This could have perverse effects. Trump doesn't listen to experts, but he does pay attention to stocks. So today's surge could (a) convince him that going ahead with a disastrous Mexico policy is fine (b) bullying the Fed works 2/
Unclear how much any of this matters. But today would really have been a good day for Powell to develop laryngitis. 3/
Read 3 tweets

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