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Economics 2008 Nobel Prize Winner Paul Krugman calls Wisconsin Congressional Representative Paul Ryan "The Flimflam Man"

By Andis Kaulins

Economics Nobel Prize Winner of 2008 Paul Krugman has unleashed both economic barrels at Wisconsin Representative to the U.S. Congress, Paul Ryan, who Krugman calls The Flimflam Man for Ryan's ignorant and absurd pie-in-the-sky plans for America's future in which the current abhorrent and unjustified inequalities of income would in fact become worse than ever.

Ryan is a good example of the increasingly under-qualified Congresspersons who are being increasingly elected to Congress by populist-enamored voters and who, once they get to Washington D.C., are presenting outlandish legislative proposals that -- in Ryan's case -- favor only the the rich, to the detriment of the rest of the country. As written at the Wikipedia:

"On April 1, 2009, Ryan introduced the GOP Alternative to the 2010 United States federal budget. This proposed alternative would have eliminated the American Recovery and Reinvestment Act of 2009, lowered the top tax rate to 25%, introduced an 8.5% value-added consumption tax, and imposed a five-year spending freeze on all discretionary spending.[10] It would also have replaced the Medicare system.[11] Instead, it proposed that starting in 2021, the federal government would pay part of the cost of private medical insurance for individuals turning 65.[11] Ryan's proposed budget would also have allowed taxpayers to opt out of the federal income taxation system with itemized deductions, and instead pay a flat 10 percent of adjusted gross income up to $100,000 and 25 percent on any remaining income.[12] Ryan's proposed budget was heavily criticized by opponents for the lack of concrete numbers[13]. It was ultimately rejected in the house by a vote of 293-137, with 38 Republicans in opposition.[14]"

Such proposals, if instituted, would create a financial shambles in America second to none.

Why middle-class and low income voters vote for such under-qualified persons is something that pure intelligence can not answer.

Full post as published by LawPundit on August 08, 2010 (boomark / email).