Thursday, November 30, 2006

Democrats and Socialist Economics

Keeping with my theme of stupid economic ideas put forth by Democrats. Check out Larry Kudlow of Kudlow & Company (CNBC)

The reality is that the American economic pie has been growing uninterrupted for 25 years, ever since President Ronald Reagan put into play Milton Friedman, Art Laffer, and Robert Mundell’s ideas.

Just because a bump up in higher gas prices slowed down average wages for a little while means nothing. Now that gas at the pump has dropped a dollar, wages are rising and so is wealth.

Unemployment is at historic lows. Household wealth is at an all-time record. More people own stocks than ever before in our nation’s history. Tax-free savings accounts are proliferating everywhere. And the middle class -- which aspires to be richer -- owns a larger piece of the rock than ever before.

Living standards have been rising, and rising, and rising. Incidentally, one of the things boosting this -- apart from the technological advances (which makes all goods and services better), is free trade (which makes all these goods and services cheaper).

And the latest talk about a government-sponsored health care system is the biggest potential mistake since France was reincorporated after WWII. In fact, if you look at all their plans, the basic theme is let’s make the United States look just like France.

Well, some people need to be reminded that free market capitalism is about equality of opportunity, not equality of results.

Remember, the greatest “equality of results” experiment in human history was the Soviet Union and we already know how that worked out. Doesn’t anybody think of that anymore? Even communist China gave up on that loser.

Hmm Democrats behaving like socialists? You don't say. They've only tried that with health care and education.

But get ready for at least two years of whining about income gaps, and economic disperity. Both of which, although they don't indicate a lack of wealth, are tragic and clearly we need to raise taxes because of them.

Oh and for the record the "equal results" idea was tried in this country. And Jamestown almost starved to death because of it.

Source: Kudlow's Money Politic$: Just Say No to Class Warfare