Today's quotes of the day are from Paul Krugman, and provided to us by James Taranto. From Krugman's Economics:
"There's obviously a relationship between tax rates and revenue. That relationship is not, however, one-for-one. In general, doubling the excise tax rate on a good or service won't double the amount of revenue collected, because the tax increase will reduce the quantity of the good or service transacted. And the relationship between the level of the tax and the amount of revenue collected may not even be positive: in some cases raising the tax rate actually reduces the amount of revenue the government collects."
Contrast that with a recent Krugman column:
In Democrat-world, up is up and down is down. Raising taxes increases revenue. . . . But in Republican-world, down is up. The way to increase revenue is to cut taxes on corporations and the wealthy.
More evidence, as if any were necessary, that Krugman does not regard his column as an intellectually serious endeavor. His job as a columnist is to dish our red meat to the Lefty horde/ use his well deserves credentials in economics to suport his prefered policy presceiptions with whatever means he can find at hand.