So the right is now apparently outraged at the fact that many Americans pay no income taxes — a true observation that is elided into the utterly untrue assertion that many Americans pay no taxes. (Almost everyone pays payroll taxes, everyone pays state and local sales taxes, etc.)
This isn’t new; remember the famous WSJ editorial about the lucky duckies who have the great good fortune to not pay income taxes because they’re, um, too poor to be above the minimum. I guess luck is in the eye of the beholder.
The thing to bear in mind is that overall, the US tax system isn’t actually that progressive: the payroll tax is regressive, as are most state and local taxes, which largely offsets the progressivity of the income tax.
So the right likes to pretend that the income tax is the only tax; it isn’t.
Paul Krugman is an Op-Ed columnist for The New York Times.
Bad behavior by many small banks can cause as much damage as misbehavior by a few giants.
The Greek debt crisis is a terrible, tragic story. It's an object lesson for the rest of us, but what does it say?
The Senate financial reform bill would create a system dependent on the good intentions of officials. That's not something we can count on.
Today, a brief guide to the debate over financial reform, which is a lot harder to follow than health reform was.
Opponents of financial reform may say they're fighting bank bailouts, but what they are really trying to block is bank regulation.
April 11
Samuelson MemorialHonoring a great man.
April 08 //
Lucky Ducky ReduxToo poor to pay income taxes? Lucky you!
April 08 //
Fiscal FantasiesThe basic picture of the federal government you should have in mind is that it's essentially a huge insurance company with an army.
April 08 //
Show Me The MoneyWill China's exchange rate move be more than cosmetic?
April 07 //
Cash For CarbonBig green me, in the NYT Magazine.
From the Opinion Blogs Opinionator Night Moves, 2:19 A.M.An artist's flow charts of the dark hours of an insomniac night.
Room for Debate The Nation's Big Water Repair BillBroken pipes, contaminated supplies: how to fix a system in distress.
Feeds Paul Krugman Blog RSS Subscribe to Paul Krugman’s Reading List Home World U.S. N.Y. / Region Business Technology Science Health Sports Opinion Arts Style Travel Jobs Real Estate Autos Back to Top Copyright 2010 The New York Times Company Privacy Terms of Service Search Corrections RSS First Look Help Contact Us Work for Us Advertise Site Map if (typeof NYTD.Blogs.user != 'undefined') { if(NYTD.Blogs.user.isLoggedIn()) { var dcsvid=NYTD.Blogs.user.getId(); var regstatus="registered"; } else { var dcsvid=""; var regstatus="non-registered"; } } var gaJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://www."); document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js' type='text/javascript'%3E%3C/script%3E")); var pageTracker = _gat._getTracker("UA-4406282-48"); pageTracker._initData(); pageTracker._trackPageview(); if((document.referrer).indexOf(document.location.hostname) == -1) { var referrer = document.referrer; } else { var referrer = ''; } document.write('');Honoring a great man.
April 08
Lucky Ducky ReduxToo poor to pay income taxes? Lucky you!
April 08 //
Fiscal FantasiesThe basic picture of the federal government you should have in mind is that it's essentially a huge insurance company with an army.
April 08 //
Show Me The MoneyWill China's exchange rate move be more than cosmetic?
April 07 //
Cash For CarbonBig green me, in the NYT Magazine.
From the Opinion Blogs Opinionator Night Moves, 2:19 A.M.An artist's flow charts of the dark hours of an insomniac night.
Room for Debate The Nation's Big Water Repair BillBroken pipes, contaminated supplies: how to fix a system in distress.
Feeds Paul Krugman Blog RSS Subscribe to Paul Krugman’s Reading List Home World U.S. N.Y. / Region Business Technology Science Health Sports Opinion Arts Style Travel Jobs Real Estate Autos Back to Top Copyright 2010 The New York Times Company Privacy Terms of Service Search Corrections RSS First Look Help Contact Us Work for Us Advertise Site Map if (typeof NYTD.Blogs.user != 'undefined') { if(NYTD.Blogs.user.isLoggedIn()) { var dcsvid=NYTD.Blogs.user.getId(); var regstatus="registered"; } else { var dcsvid=""; var regstatus="non-registered"; } } var gaJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://www."); document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js' type='text/javascript'%3E%3C/script%3E")); var pageTracker = _gat._getTracker("UA-4406282-48"); pageTracker._initData(); pageTracker._trackPageview(); if((document.referrer).indexOf(document.location.hostname) == -1) { var referrer = document.referrer; } else { var referrer = ''; } document.write('');Too poor to pay income taxes? Lucky you!
April 08
Fiscal FantasiesThe basic picture of the federal government you should have in mind is that it's essentially a huge insurance company with an army.
April 08 //
Show Me The MoneyWill China's exchange rate move be more than cosmetic?
April 07 //
Cash For CarbonBig green me, in the NYT Magazine.
From the Opinion Blogs Opinionator Night Moves, 2:19 A.M.An artist's flow charts of the dark hours of an insomniac night.
Room for Debate The Nation's Big Water Repair BillBroken pipes, contaminated supplies: how to fix a system in distress.
Feeds Paul Krugman Blog RSS Subscribe to Paul Krugman’s Reading List Home World U.S. N.Y. / Region Business Technology Science Health Sports Opinion Arts Style Travel Jobs Real Estate Autos Back to Top Copyright 2010 The New York Times Company Privacy Terms of Service Search Corrections RSS First Look Help Contact Us Work for Us Advertise Site Map if (typeof NYTD.Blogs.user != 'undefined') { if(NYTD.Blogs.user.isLoggedIn()) { var dcsvid=NYTD.Blogs.user.getId(); var regstatus="registered"; } else { var dcsvid=""; var regstatus="non-registered"; } } var gaJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://www."); document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js' type='text/javascript'%3E%3C/script%3E")); var pageTracker = _gat._getTracker("UA-4406282-48"); pageTracker._initData(); pageTracker._trackPageview(); if((document.referrer).indexOf(document.location.hostname) == -1) { var referrer = document.referrer; } else { var referrer = ''; } document.write('');The basic picture of the federal government you should have in mind is that it's essentially a huge insurance company with an army.
April 08
Show Me The MoneyWill China's exchange rate move be more than cosmetic?
April 07 //
Cash For CarbonBig green me, in the NYT Magazine.
From the Opinion Blogs Opinionator Night Moves, 2:19 A.M.An artist's flow charts of the dark hours of an insomniac night.
Room for Debate The Nation's Big Water Repair BillBroken pipes, contaminated supplies: how to fix a system in distress.
Feeds Paul Krugman Blog RSS Subscribe to Paul Krugman’s Reading List Home World U.S. N.Y. / Region Business Technology Science Health Sports Opinion Arts Style Travel Jobs Real Estate Autos Back to Top Copyright 2010 The New York Times Company Privacy Terms of Service Search Corrections RSS First Look Help Contact Us Work for Us Advertise Site Map if (typeof NYTD.Blogs.user != 'undefined') { if(NYTD.Blogs.user.isLoggedIn()) { var dcsvid=NYTD.Blogs.user.getId(); var regstatus="registered"; } else { var dcsvid=""; var regstatus="non-registered"; } } var gaJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://www."); document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js' type='text/javascript'%3E%3C/script%3E")); var pageTracker = _gat._getTracker("UA-4406282-48"); pageTracker._initData(); pageTracker._trackPageview(); if((document.referrer).indexOf(document.location.hostname) == -1) { var referrer = document.referrer; } else { var referrer = ''; } document.write('');Will China's exchange rate move be more than cosmetic?
April 07
Cash For CarbonBig green me, in the NYT Magazine.
From the Opinion Blogs Opinionator Night Moves, 2:19 A.M.An artist's flow charts of the dark hours of an insomniac night.
Room for Debate The Nation's Big Water Repair BillBroken pipes, contaminated supplies: how to fix a system in distress.
Feeds Paul Krugman Blog RSS Subscribe to Paul Krugman’s Reading List Home World U.S. N.Y. / Region Business Technology Science Health Sports Opinion Arts Style Travel Jobs Real Estate Autos Back to Top Copyright 2010 The New York Times Company Privacy Terms of Service Search Corrections RSS First Look Help Contact Us Work for Us Advertise Site Map if (typeof NYTD.Blogs.user != 'undefined') { if(NYTD.Blogs.user.isLoggedIn()) { var dcsvid=NYTD.Blogs.user.getId(); var regstatus="registered"; } else { var dcsvid=""; var regstatus="non-registered"; } } var gaJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://www."); document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js' type='text/javascript'%3E%3C/script%3E")); var pageTracker = _gat._getTracker("UA-4406282-48"); pageTracker._initData(); pageTracker._trackPageview(); if((document.referrer).indexOf(document.location.hostname) == -1) { var referrer = document.referrer; } else { var referrer = ''; } document.write('');Big green me, in the NYT Magazine.
An artist's flow charts of the dark hours of an insomniac night.
Broken pipes, contaminated supplies: how to fix a system in distress.
Read Full Article »