A very detailed review in "The Free Market" of my newest book "At the Brink"
John Lott is best known to the public for his outstanding analysis of gun control legislation, but his research as an economist extends far beyond that topic; and he here gives us a devastating account that covers the full range of the Obama administration’s economic policy.
Readers stirred to anger by the simpleminded statism of Paul Krugman will be delighted by Lott’s demolition of several of his claims. To those who urge that high taxes on the wealthy discourage invest- ment, to the disadvantage of us all, Krugman often recalls the palmary era of the 1950s. Did we not then see very high tax rates together with high rates of economic growth? “In the 1950s incomes in the top bracket faced a marginal tax rate of 91, that’s right, 91 percent, while taxes on corporate profits were twice as large, relative to national income, as in recent years.” (p. 200, quoting Krugman)
Lott is a master of economics statistics, and he quickly exposes a fatal flaw in Krugman’s argument. . . .
Labels: At the Brink