The Sad Decline of Economic Literacy at the New York Times

August 10, 2017 by Dan Mitchell

 

Every so often, I mock the New York Times for biased or sloppy analysis.

• Claiming Medicaid cuts in a piece that shows rising outlays for the program.
• Asserting that government schools are “starved of funding” when taxpayer subsidies actually have skyrocketed.
• Claiming that budget-cutting austerity nations are doing worse than “stimulus” nations, but getting the numbers backwards.
• Writing that the sequester will mean “deep automatic spending cuts” when the budget actually will climb by $2.4 trillion.
• Claiming that Italy is more prosperous than the United States and that there is less poverty.
• Asserting that U.S. multinationals pay little tax on foreign-source income, but forgetting to include the taxes paid to foreign governments.

Now there’s a new column by David Leonhardt that cries out for correction.  He’s very upset that upper-income people are enjoying higher incomes over time........To Read More.....