05 Aug 2010

Hey Rich Guy, You Weren’t Going to Use That Money, Right?

Economics 4 Comments

I realize this is nothing new, but man I just can’t get over how little the pundits care about property rights. Did they miss a lesson on the schoolyard growing up? Here’s Krugman:

…[I]t would be a terrible idea to make the high-end tax cuts permanent; that would be a huge drain on the public finances, serving no good purpose.

4 Responses to “Hey Rich Guy, You Weren’t Going to Use That Money, Right?”

  1. Bob Roddis says:

    I was going to be a smart alec but instead make a depressing observation.

    In my joustings with the Keynesians and (recently) Chartalists, whenever I point out that the issuance of fiat money is theft from those holding the existing money, the only response (beyond the point being ignored) is either a) boy, do you have a strange sense of morality; or b) if the government does it, it’s not immoral.

    Your life is just a tax-expenditure. And be thankful for it.

    • justino says:

      Didn’t you know? People acquire a different moral nature while wearing a government-issued uniform or issuing government edicts.

  2. Jonathan Finegold Catalán says:

    The worst part is that he’s afraid that the wealthy will save too much money.

    • Bob Roddis says:

      I’m afraid you are right. For years, I assumed Krugman had to be Machiavellian. However, I’m coming to the conclusion that he’s just denser than the London fog.