Caricature Economics

TW: From Paul Krugman in a post entitled "Caricature Economics" alternatively it could be called another reason our economy is screwed-

"The answer is, eliminate the capital gains tax. Now, what was the question?

John Boehner:
“If we’re really serious about creating jobs, what we ought to do is, we ought to eliminate the capital gains tax for the next two years on any equities that are purchased,” he said. He argued that cutting the corporate income tax would help boost employment.

This brings back a memory: on Sept. 13, 2001, I got frantic calls from staffers on Capitol Hill. They informed me that Republican leaders in the House were trying to use the terrorist attack to ram through, you guessed it, a cut in the capital gains tax."