KRUGMAN: Trump will turn America into an 'all-out kleptocracy' like Russia and Ukraine
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This time, Krugman took aim at both Trump's transition team and the infrastructure plan that the president-elect has proposed.
Krugman implied that the $550 billion infrastructure plan (which has been reduced from a $1 trillion proposal during the campaign) using both private and public investment that Trump has proposed would be used to enrich Trump and his friends. The plan calls for equity investments from private companies that are then given tax cuts and ownership stakes in the final product.
Thus, in Krugman's and other analysts' eyes, this would turn large-scale infrastructure investments like bridges and airports that have long been owned by the government into private projects.
"His transition team is basically all lobbyists and his infrastructure plan, such as it is, sounds as if it's going to be largely about privatizing public assets," tweeted Krugman.
The economist said the inclusion of lobbyists within his transition team and fact that Trump has only passed control of his businesses to his children shows that he "won't separate himself from his business interests." Thus, Krugman said, Trump would use these private infrastructure contracts to enrich himself or people with whom he is associated.
"In short, we're almost surely looking at all-out kleptocracy, along the lines of what happened in Russia or Ukraine. Strange, isn't it?" said Krugman. "After all, it's not as if we've just empowered the same people who stole all those assets abroad."
Here's the full tweetstorm:
So, who could have seen this coming? The man who refused to release his tax returns -- getting almost no heat from the media 1/
- Paul Krugman (@paulkrugman) November 15, 2016
is now making it clear that he won't separate himself from his business interests. His transition team is basically all lobbyists 2/
- Paul Krugman (@paulkrugman) November 15, 2016
and his infrastructure plan, such as it is, sounds as if it's going to be largely about privatizing public assets 3/
- Paul Krugman (@paulkrugman) November 15, 2016
In short, we're almost surely looking at all-out kleptocracy, along the lines of what happened in Russia or Ukraine. Strange, isn't it? 4/
- Paul Krugman (@paulkrugman) November 15, 2016
After all, it's not as if we've just empowered the same people who stole all those assets abroad. Oh, wait 5/
- Paul Krugman (@paulkrugman) November 15, 2016
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