THE NYT – AT IT AGAIN

THE NYT – AT IT AGAIN

The NYT runs a story on the murdering cop from S. Carolina extolling the virtues of the way local officials are handling the case.  Not a mention of completely false stories that were put out as the truth by local officials before the video was discovered.

http://www.nytimes.com/2015/04/09/us/walter-scott-north-charleston-residents-express-disgust-but-not-surprise.html?_r=0

Review the reports cited in my previous posts for what really happened.  The NYT supports the delusional framework, ignoring easily ascertainable facts.  Nothing new here.

THE WAPO – AT IT AGAIN

Not to be outdone by the NYT, the Washington Post runs a puff piece on Arthur Laffer, the totally discredited faux economist – AS IF HE IS A CREDIBLE PERSON.  http://www.washingtonpost.com/business/economy/arthur-laffer-has-a-neverending-supply-of-supply-side-plans-for-gop/2015/04/09/04c61440-dec1-11e4-a1b8-2ed88bc190d2_story.html?hpid=z3

Loaded with spin in the form of statements like this:

“No one has influenced Republican candidates’ thinking on the economy for the past four decades as much as Laffer, who is now 75. Laffer says he believes that limiting government and cutting tax rates, especially the rate levied on top earners, will unleash faster economic growth. Since he sold then-candidate Ronald Reagan on that prescription, every Republican presidential nominee has run on a Laffer-inspired economic platform”

Here we are presented with what Laffer “says he believes” – as if his beliefs might be credible.  The WAPO does not follow up – or include anywhere in the article – the easily ascertainable fact that countless studies have proven beyond a reasonable doubt that Laffer’s beliefs are delusional and not a single credible economists considers Laffer and his theories anything but a joke.

A google search will produce dozens of studies by real economists totally debunking Laffer with real world facts – e.g.:

David Autor:

Not aware of any evidence in recent history where tax cuts actually raise revenue. Sorry, Laffer.

Or Michael Greenstone:

All evidence that I’m aware of suggest that cutting tax rates “marginally” from their current levels would DECREASE revenues, even 5 yrs out

Or Kenneth Judd:

That did not happen in the past. No reason to think it would happen now.

Or Anil Kashyup:

May look plausible on a cocktail napkin (or at a cocktail party), but not true empirically in the US.

Or Pete Klenow:

Not enough time for capital to respond much (physical, human, technology), so it would require implausibly large labor supply elasticities.

Or Robert Hall

See previous question. In addition, few studies suggest we are already at the max of the Laffer curve, though we may be close.

Or Austan Goolsbee:

Moon landing was real. Evolution exists. Tax cuts lose revenue. The research has shown this a thousand times. Enough already.

Etc., etc.  There are many people who have an interest in making you believe otherwise, but tax cuts are inconsistent with deficit reduction  — they make the deficit problem worse.”

No matter to the WAPO.  Real world facts are not allowable in the delusional framework.  And the WAPO treats its readers as if they have an IQ lower than 80 and watch nothing but Faux News.

And of course the WAPO does not want anyone to draw the obvious conclusion from the easily ascertainable facts – Republican “Laffer inspired economic platforms” are deranged.

 

 

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