Tax the Rich

Useful data from Russ Roberts on the realities/myths behind the narrative that our fiscal predicament is because of tax cuts for the rich. IMHO, the stronger narrative is, as Russ alludes to, that the relationship between Wall Street and the Federal government is where we should be looking. Crony capitalism and rent seeking behaviors are on fire on lower Manhattan. I'll always thumb a post that's dismissive of Paul Krugman anywho. His union narrative is either insanely smart and way over my head, or the Nobel has lost some luster.