That evil Paul Krugman has some mean things to say.
It'll be interesting how states respond to declining revenues if this is more than a 1-2 year hit. "Tax reform" in PA seems to involve shifting the tax burden from property taxes to income taxes. Anyone know how this is expected to hit people in various parts of the income distribution? I'm not yet familiar enough with PA taxes, but my guess is it'll whack the "poor" quite a bit.
