Sometimes economists in official positions give bad advice; sometimes they give very, very bad advice; and sometimes they work at the OECD. - Paul Krugman

Feldstein pointed out that throughout the tax system inflation was turning tolerable paper tax rates into very high effective rates. Corporations, for example, were supposed to pay a tax rate of 42 percent on their profits. Feldstein calculated, however, that when the effects of inflation were taken into account, the true tax on any profits from investing in equipment was more like 75 percent.
You don't need to be a Republican to accept that tax rates this high might discourage investment and hurt economic growth. But was the interaction between inflation and investment really a major villain in America's economic difficulties? There the evidence was less clear.

What does Alexandria Ocasio-Cortez know about tax policy? A lot.

The fact is that Democrats have already been pursuing policies that are much better for the white working class than anything the other party has to offer. Yet this has brought no political reward.