Paul Krugman

@paulkrugman ↗

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Last Checked March 24, 2022

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Tue Feb 15 15:38:08 +0000 2022

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Paul Krugman @paulkrugman

Basically, I don't see a coherent case that cutting gas taxes wouldn't offer short-run relief while cutting tariffs would; if anything, it may be the opposite. What am I missing? 6/ — PolitiTweet.org

Posted Feb. 15, 2022

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Paul Krugman @paulkrugman

To be clear, taxing gasoline is a good long-run policy; in fact, fossil fuels should be taxed much more heavily than they are. Protectionism, on the other hand, is a bad policy. But that shouldn't affect our assessment of what changes in taxes would do to consumer prices 5/ — PolitiTweet.org

Posted Feb. 15, 2022

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Paul Krugman @paulkrugman

To add a further clarification: under normal circumstances I would expect tariff cuts to be fully passed on to consumers. But right now import volume is constrained by shipping and port capacity, so the usual incidence analysis isn't relevant 7/ — PolitiTweet.org

Posted Feb. 15, 2022