Regarding the Oct. 7 “Like magic: Voodoo economics just won’t die” column by Paul Krugman:
Clearly a tax rate of zero will not manifest in any government revenue. A tax rate of 100 percent will have a similar result. Obviously, there is a tax rate between zero and 100 percent that will produce the most revenue.
Serious and responsible economists spend overtime trying to determine what that rate might be based on current circumstances and probable future global expectations. John F. Kennedy and Ronald Reagan decreased tax rates. George H.W. Bush and Barack Obama increased them. But the results do not speak for themselves. They are interpreted by zealots who prosper by feeding us emotional triggers that stimulate ideologues of either stripe.
I choose to believe that our presidents and their economic teams are patriots motivated by a belief that they were doing what they considered best for the nation at the time.
We depend on the media for objective and accurate information. Without it, we risk abdicating our sovereignty to those that we elect to serve us. Perhaps it is time for The Tribune to reconsider Mr. Krugman’s objectivity and professionalism.