Reader comment on: Krugman on Millionaires' Money
in response to reader comment: Trickle down strikes again!
Submitted by benjamin (United States), Aug 9, 2010 21:47
I am a victim of my Keynesian Professor! Actually, Mankiw proposes payroll tax deductions in the link you sent, which would benefit middle class workers far more than the wealthy. President Obama, by lowering taxes on the bottom 98% of taxpayers did use tax cuts as a stimulus. However, he did not cut taxes on the wealthiest. I would guess that multiplier effect is different at different income levels - stronger the lower down one goes, for the reasons Mankiw suggests.
Thanks for the link.
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