His newest piece in support of inherited wealth is thoroughly unconvincing.
Team Romney Rallies Around Carried Interest
March 05, 2012
It has been apparent for a while now that Mitt Romney’s candidacy is less than ideal for the one percent, or the one-tenth or one-hundredth of the one percent. It is one thing to have a candidate who is committed to promoting unjust tax policies that will help you and your fellow millionaires; it is another thing to have a candidate who benefits from those unjust policies, thus making himself a poster child for reform. Romney pays a federal income tax rate of only 14 percent on his income of more than $20 million per year because of two features of the tax code.
Mankiw's Misleading Defense Of Paul Ryan
June 20, 2011
Former Bush economic advisor Greg Mankiw, writing in the New York Times, picks up the GOP talking point that Paul Ryan's plan to radically alter Medicare is really a pretty familiar bipartisan idea being blown out of propotion: Representative Paul D. Ryan, Republican of Wisconsin, has attracted much attention with his plan to reform Medicare.
The GOP's War Against Budgeting
January 21, 2011
I think I'm finally beginning to understand GOP thinking about fiscal policy. It's not that they're at war, as Krugman thought, with logic. Or, as Jonathan Chait writes, with arithmetic. Or even with CBO, as Ezra Klein concludes.
Health Care And The Nub Of The Fiscal Problem
January 20, 2011
Former Bush economic advisor Greg Mankiw writes: I have a plan to reduce the budget deficit. The essence of the plan is the federal government writing me a check for $1 billion. The plan will be financed by $3 billion of tax increases. According to my back-of-the envelope calculations, giving me that $1 billion will reduce the budget deficit by $2 billion. Now, you may be tempted to say that giving me that $1 billion will not really reduce the budget deficit. Rather, you might say, it is the tax increases, which have nothing to do with my handout, that are reducing the budget deficit. But
Why Do Good Conservative Economists Endorse Pseudoeconomic Nonsense?
January 03, 2011
Former Bush economic advisor Greg Mankiw urges President Obama to stop "spreading the wealth: Ever since your famous exchange with Joe the Plumber, it has been clear that you believe that the redistribution of income is a crucial function of government. A long philosophical tradition supports your view. It includes John Rawls’s treatise “A Theory of Justice,” which concludes that the main goal of public policy should be to transfer resources to those at the bottom of the economic ladder. Many Republicans, however, reject this view of the state.
A Sincere Apology To Megan McArdle
October 25, 2010
Last week, Michael Kinsley wrote a really smart column completely dismantling the shoddy mathematical underpinnings of Greg Mankiw's self-pitying column about how high marginal tax rates will ruin his children's life.
Kinsley Curb-Stomps Mankiw
October 19, 2010
A week ago, former Bush economic advisor Greg Mankiw wrote a New York Times column asserting that President Obama would be raising his marginal tax rate to 90%, thus dampening his incentive to continue churning out anti-tax propaganda. Michael Kinsley questions Mankiw's math skills: Mankiw calculates that without the tax changes advocated by Obama, his kids would end up with “about $2,000.” He interprets this as “twice the incentive to keep working,” but it is still a hard-to-defend marginal tax rate of 80 cents on the dollar.
A Reply to Jonathan Chait on Stimulus
August 23, 2010
Jonathan Chait has responded to my post about our lack of knowledge about the practical effects of stimulus spending. He seems to be taking on opinions that aren’t mine. Chait begins his reply by claiming that I “oppose any stimulus at all.” This is a position which I did not present in the post, and which I do not hold. In fact, I have consistently advocated stimulus in the face of the current crisis, and generally in venues that are not as hospitable to this idea as The New Republic.
The Government Is Not Just Washington
June 19, 2010
Ezra Klein has a good column this weekend pointing out that the discussion of federal deficits and the stimulus misses the fact that the federal stimulus has, at best, merely counteracted the anti-stimulus from the states. State governments must balance their budgets, which means that during recessions they cut spending and raise taxes, which in turn deepens the recession.