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Balanced Fare: We Report, You Deride

Monday, June 17, 2002




The Krugman Watch Never Sleeps

Well, well, well. Our new Column Compressor has churned through Krugman's "Politicians on Drugs" and produced the following:

"Krugman is on drugs and the rich are buying. Democrats offer ecstasy, Republicans a sack of reds."


Seems too easy, doesn't it? Oh, I had a bit of fun myself with the full text. Let's see how Paul got after this:

"Yesterday House Republicans announced their prescription drug plan for retirees. It was, of course, an election-year gesture. So, to be sure, was last week's rival announcement by Senate Democrats. Soon each side will be accusing the other of obstructionism. What's a voter to think?"

I'm not even going to peek ahead. I'm going to guess, here, honest injun, no peeking ... he likes the Democratic plan! How did I do?


"The short answer is that the Senate Democrats have a plan that can be criticized [note: but won't be, here] but is definitely workable. The House Republicans, by contrast, have a plan that would quickly turn into a fiasco — but not, of course, until after the next election."


And away we go. The people want it, they want someone else to pay for it, that means we shouldn't cut the top income tax bracket and we should keep a modified estate tax... gee, a few weeks ago the revenue from the estate tax was going to provide aid to the third world, can these rich folks actually die that quickly? Maybe these rich old cranks ought to see a darn doctor instead of listening to Rush all day.

But my heart isn't in it. His point about the "moral hazard" problem with the Republican plan is very probably right. So am I being churlish? First time for everything, hey, is this what it feels like? Look, if income and wealth re-distribution are your thing, you know, right the wrongs of an unjust and corrupt system, sock it to the rich, then spending more of other folk's money will always look better. Conversely, if you wonder just where democracy might be headed when roughly 50% of the Federal Income tax comes from the top 5% of people filing, and you worry that it should be pretty easy to get 51% of the people in favor of spending more of other people's money on just about anything, what did the Founding Old-Timers say about "mob-ocracy", doesn't anyone take responsibility for their own future anymore, Europe taxes people like crazy and how are they doing, hmmm, rightys reclaim France...

Well, anyway, $350 Billion versus $500 Billion over ten years? Both parties can keep their fund-raisers and telemarketers at home, this is not "End of Days". Although I am sure that someone will tell me it is.

The source check couldn't be easier: None. No sources cited. The power of the blogosphere? Wow, I do need some of those drugs.



UPDATE: Oh, you probably already found it at Hoystory.


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