Ep. 113 Will Tax Cuts Mean Millions of Lost Manufacturing Jobs?
Contra Krugman
Tom Woods
4.7 • 822 Ratings
🗓️ 18 November 2017
⏱️ 31 minutes
🧾️ Download transcript
Summary
Krugman argues that the GOP tax plan, even on its own terms, would blow up the trade deficit and lead to millions of lost manufacturing jobs. We teach the economics behind his argument, but also mention--get ready for this--that Krugman leaves out two big factors that completely undercut his case.
Transcript
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| 0:00.0 | Contra Krugman, episode 113. |
| 0:05.5 | Welcome to the podcast that takes apart Paul Kruikman's New York Times column. |
| 0:10.2 | Join us as Tom Woods and Bob Murphy teach economics by uncovering and dissecting the arrows of Krookman. |
| 0:16.1 | Nobel Prize winner, newspaper columnist, and destroyer of nations. |
| 0:20.1 | It's time for Contra Krugman. |
| 0:24.6 | Home schoolers, it's that time of year again, and if you want your kids to get an outstanding |
| 0:28.7 | education, while you maintain your mental health, check out the self-taught Ron Paul |
| 0:34.6 | curriculum. But make sure and do so through my special link, because only there |
| 0:39.1 | do you get $160 worth of free bonuses. What's that special link? Ron Paul homeschool.com. |
| 0:46.7 | Hello, everybody. Tom and Bob here with another episode of Contra Krugman. Very glad to be here |
| 0:50.8 | talking about tax cuts, sort of. We'd be happier talking about tax cuts if we knew what the heck it all meant. |
| 1:00.7 | And we kind of know what it all means, but there are some complications when trying to figure out if any particular person is going to benefit from this new tax proposal if, in fact, it becomes law. |
| 1:12.1 | So in any case, though, what we're talking about specifically today is a Krugman blog post |
| 1:18.4 | called Tax Cuts and the Trade Deficit from November 14, 2017, linked at contra Krugman.com |
| 1:24.7 | 1.13. |
| 1:25.9 | Well, we may say a little something about the tax proposal overall, |
| 1:28.5 | but we have been talking about taxes quite a bit. Tax cuts are the new health care, Bob, for Krugman, |
| 1:33.6 | in that this is what he's talking about quite a lot. So we probably, after today, very likely |
| 1:40.3 | say goodbye to tax cuts for a long time. Sounds like the history of America. It does. |
| 1:44.9 | We'll say goodbye to tax cuts for a long time. Yeah, listen, GOP. We got something to say to you. |
| 1:49.4 | What I think we'll do this time is I will read the blog post because these blog posts are not that |
| 1:55.3 | long and summarizing it would take more time than just reading it to you. So tax cuts of the |
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