Krugman’s Kingdom

Paul Krugman was asked a very interesting question: as an unrestrained king (a.k.a. dictator), what tax system he would have and what percentage of GDP taxes would be? His answers:

• National Sales Tax (What rate?)
• “Somewhat” Higher Income Tax (references a 73% rate proposal then says that might be too much)
• A lot of extra revenue would come the middle class
• Revenues would be used to provide a “good national healthcare system” and a “good social safety net”
• Countries with reasonable systems have a tax share of 40% of GDP, but that’s not a target, wants outcomes not a number

In other words, Krugman is an socialist ideologue. His tyrannical, anti-freedom society is frightening to think about. Even though he may never get close to it this is a man many people pay attention to and consider a serious economist.

He wants to more than double federal revenue. Historically, taxes have been stuck at around 18% of GDP, but Krugman thinks 40% is decent:

Like some others, I don’t actually consider Paul Krugman to be an economist, the same way astrologers are not astronomers. He is mainly a political hack that peddles economic quackery and “leftist”/socialist propaganda.