Paul Krugman

@paulkrugman ↗

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Last Checked Nov. 2, 2020

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Sun Oct 11 16:22:38 +0000 2020

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Paul Krugman @paulkrugman

The point is that the channel through which corporate tax cuts are supposed to raise wages is tax cut -> higher investment -> higher capital stock -> higher demand for labor. But the TCJA, as far as we can tell, had no effect on business investment 2/ — PolitiTweet.org

Posted Oct. 11, 2020

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Paul Krugman @paulkrugman

Exactly. Most tax models assume that the corporate tax indirectly reduces wages; but that's not the same thing as saying that it's a tax on workers. And the experience of the 2017 tax cut should lead us to question how much incidence on workers there really is 1/ — PolitiTweet.org

Dear @jonkarl, The reason that @TaxPolicyCenter shows a small increase for middle-income families is ENTIRELY beca… https://t.co/zVMQCjzYc3

Posted Oct. 11, 2020

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Paul Krugman @paulkrugman

This might be some combination of flaws in the tax cut's structure and the preponderance of monopoly rents in modern corporate profits. Whatever the reason, however, it suggests that repealing those corporate tax cuts won't reduce wages 3/ — PolitiTweet.org

Posted Oct. 11, 2020