Nobel Prize-winning economist and New York Times columnist Paul Krugman on Monday buried the Republican Party for trying to rewrite the legacy of its massive tax cuts to corporate America that failed to live up to the GOP's promises.
Writing on Twitter, Krugman says that he's surprised to see Republicans continuing to defend the tax cuts because they were such a "dismal failure" at achieving their stated goals.
Specifically, Krugman notes that "we were promised a huge surge in business investment" in the wake of the tax cuts, but instead private nonresidential fixed investment made only modest gains and still never approached levels seen in 2015, when former President Barack Obama was purportedly strangling the American economy.
"The players involved here have a long history of denying plain facts that conflict with their agenda," Krugman comments on the GOP. "So I'll make a prediction: as the economy booms, we'll see claims both that the boom is fake, that Biden is cooking the books, and that Trump deserves credit."