This is truly priceless. I don’t deny that the very wealthy in general aren’t happy with Obama’s rudderless economic policies and no one, except perhaps Bill Gates and his father, likes to pay higher taxes. But the reality, as Krugman’s employers might tell him in a private moment, is that extraordinarily wealthy people pay a lot of money to accountants and tax attorneys to find loopholes, shelters and the like. The editorial writers at the Times have long championed confiscatory estate taxes, a fair enough opinion, but just once I’d like to see a disclaimer that explains how the Sulzberger family, which owns the Times Co., has dodged those very taxes that would necessitate a re-structuring of their 114-year-old enterprise. As Krugman concludes in his column—in another context—“Sacrifice is for the little people.”
But richness abounds in Krugman’s 800 words. Buckle up: “The spectacle of high-income Americans, the world’s luckiest people [some wealthy Americans worked very hard, and took risks, to accumulate their fortunes, but in Krugman’s world, they’re all layabouts], wallowing in self-pity and self-righteousness would be funny, except for one thing: they may well get their way… You see, the rich are different from you and me: they have more influence.”
It goes without saying that 100 percent of America’s unemployed would gladly trade bank accounts with Krugman, and might well be offended that he has the audacity to link himself with the less fortunate who have no money and no influence.