Math and Facts are Harder

I’m sure Paul Krugman thinks he made a morally justifiable argument in his recent NYT article supporting ¡Ocasio! She Guevara’s proposed higher tax rates, but he’s dead wrong on both the facts and his math. He wrote,

The controversy of the moment involves AOC’s advocacy of a tax rate of 70-80 percent on very high incomes, which is obviously crazy, right? I mean, who thinks that makes sense? … And it’s a policy nobody has ever implemented, aside from … the United States, for 35 years after World War II — including the most successful period of economic growth in our history.

It’s a fact that World War II ended in 1945. You can look it up.

It’s also a fact that the top U. S. personal income tax rates were cut from 70 percent to 50 percent in 1964. Paul Krugman could have looked that up in the NYT’s archives.

1964 – 1945 = 19 and 19 < 35.

Also, the peak period of post WWII economic growth in America was after that tax cut, a fact that Krugman would have also found if he researched his paper's own archives.

Space prohibits a full discussion of the impact of the tax cut, but current data show that inflation-adjusted G.D.P. increased 5.8 percent in 1964 after a 4.4 percent rise in 1963. Growth improved to 6.5 percent in 1965 and 6.6 percent in 1966. These were the three best back-to-back years for economic growth in the postwar era, and economists generally credit the Kennedy-Johnson tax cut for much of it.

Sometimes Truth just refuses to fit The Narrative.

UPDATE—To be fair to Paul Krugman, the Kennedy/Johnson tax cut became law just before his 11th birthday, so he probably has no real memory of the economic conditions he was writing about.

Don’t Know Much About History

She Guevara tweeted this—I was going to write a post discussing her tweet, but Andrew Klavan has a tweet that sums up my views more succinctly.I’ll simply add that Joseph had to briefly take his family beyond Herod’s reach, but after Herod died, the family was able to quickly return to Judea for Mary’s purification sacrifice at the Temple (on the 40th day following the birth) and then go home to Nazareth. They were not immigrants seeking long-term refuge in a foreign land.

Twenty Years Ago This Week

It was twenty years ago that Bill Clinton was impeached for lying under oath during a deposition in a civil suit related to a sexual harassment claim. The 1995 Blog takes a look back at that process and comes to the conclusion that it looks better now than it did twenty years ago.

Clinton lied under oath, and sought to impede justice in a sexual harassment lawsuit in which he was the defendant. The lawsuit was brought by Paula Jones, a former employee of the state of Arkansas who said that Clinton, while he was the state’s governor, crudely propositioned her at a hotel room in Little Rock.

During his deposition in the Jones lawsuit, Clinton was asked about Lewinsky. He denied having had sexual relations with her; he denied having been alone with her. Presiding at Clinton’s deposition, taken in January 1998, was a federal judge, Susan Webber Wright.

She was there at Clinton’s request, and she later found that Clinton had given “intentionally false” testimony at the “tainted deposition” and that his “false, misleading and evasive answers … were designed to obstruct the judicial process.”

The judge found Clinton in contempt, and the House of Representatives wound up impeaching him on one count of perjury and one count of obstruction of justice.

One may argue whether or not the Senate did the right thing by failing to convict, but looking back, it seems the House did the right thing by censuring Clinton’s lawless behavior.