[lbo-talk] Krugman Slaps Brooks Around, Again

mike larkin mike_larkin2001 at yahoo.com
Thu Dec 25 23:50:08 PST 2003


Responding to Brooks's blather about the "ownership society.":

"One key proposal in the State of the Union address will, we hear, be the creation of new types of tax-exempt savings accounts. The proposal will come wrapped in fine phrases about an "ownership society." But serious journalists should tell us how the plan would work, who would benefit and who would lose.

An early version of the plan was floated almost a year ago, and carefully analyzed in the journal Tax Notes. So there's no excuse for failing to report that the plan would probably reduce, not increase, national savings; that it would have large long-run budget costs; and that its benefits would go mainly to the wealthiest few percent of the population."

http://nytimes.com/2003/12/26/opinion/26KRUG.html

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