Paul Krugman wants us all to know that the recent tax cuts didn’t quite work out like we were told they would. That’s possible, obviously, but the reason he gives isn’t that they were the wrong tax cuts. Rather, it was a big bill, no one had time to look at it right, therefore it was all written by wonks and lobbyists. Thus no legislator, let alone public commentator, was able to say what was really going on. Thus Krugman wants to correct it to be something more sensible.
Of course you, me, and Paul Krugman are going to disagree on what is sensible. But that basic point being made seems reasonable enough. Hundreds of pages of detail running past the dullards who manage to get elected is unlikely to produce a fine and well-oiled machine for our governance. I’ll agree to that.
