“Even Senate Republicans basically said, ‘Let’s forget about that. That’s a really stupid idea.’ And then Trump comes out with it.' “This is something that was thrown together by somebody who has paid no attention to how these things actually work.'
Nobel Prize-winning economist Paul Krugman is so unimpressed with President Donald Trump’s latest efforts to boost the economy amid the coronavirus crisis that he has declared it to be the hydroxychloroquine of economic policy.
Deferring payroll taxes was such a “known bad idea” that it had already been dismissed by the GOP in the Senate, Krugman explained on CNN Sunday. Krugman also warned that hobbling the payroll tax would starve Social Security and Medicare of much-needed funds.
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