Krugman burped all over the Times again today, challenging the current crop of GOP candidates and their budget proposals, and again, he harps on the fact that the rich don’t fork over enough of their income to the government.
But the richest 1 percent would receive large tax cuts — and the richest 0.1 percent would do even better, with the average member of this elite group paying $1.1 million a year less in taxes than he or she would if the high-end Bush tax cuts are allowed to expire.
I believe that you are entitled to keep every dime that you earned. I’m funny that way, because like the rest of you, I learned as a child that it might be nice to share, but it’s not nice to take. I’m not sure, though, where or even why we drew a line to mark the point where it becomes okay. Who gets to determine? What is the yardstick?
Krugman omits the inconvenient fact that the top 1% already pay more than 40% of all taxes. So, what is good enough for Kruggy? 45? 50? 90?
Anyway, every time I read the guy, I can’t help but think that this is someone who has never in his life put a dime of his savings on the line for anything entrepreneurial; that he hasn’t once experienced the anxiety that most business owners and investors experience after they venture into the world of financial speculation with their own money.