Kudlow Snaps

Ho, hum. I expect so little of the Senate that I am never too disappointed. But their failure to repeal the Death Tax has caused my mentor, Larry Kudlow, to snap.

So the estate tax cut went down in the Senate, to the cheers of class warriors everywhere. Congratulations to Democratic senators Evan Bayh, Mary Landrieu, Ron Wyden, and Mark Pryor -- all of whom voted against death-tax repeal after voting in favor of it a few years ago. At last, they’ve come to their senses!

Our rich people don’t need another tax break. No, they need higher taxes. And they should be vilified, too. That’s right: America should attack rich people. In fact, we must abolish wealth, which is a tremendous drag on our economy. It’s high time that we made the rich poor.

As for all the xenophobes who want to deport the illegal immigrants who toil in this economy, may I respectfully suggest that their generals (i.e., Lou Dobbs, Pat Buchanan, and Tom Tancredo) consider expanding their dragnet? Let’s deport rich people, too!

These rich people are bad for America. We don’t need their ingenuity, their entrepreneurship, or their capital investment. In the name of egalitarian socialism, the only thing we need from them is more tax dollars. We now tax their incomes as salary, corporate profits, dividends, capital gains, and at death. But we must do better.

It continues but the tone does not change. I completely agree but didn't expect anything better out of this lot. Rumors abound of a deal that will cut the tax or extend breaks. Republicans must choose "an issue or a bill." It's not that easy a sell, the class warriors will talk about "Paris Hilton." Go for the bill, guys and gals.

Economics and Markets Posted by jk at June 10, 2006 1:49 PM