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Thursday, August 19, 2010

The 15% Kudlow

Mr. Kudlow of CNBC seems to have developed a fatal attraction for 15% flat tax policy. Like any Fox(y) Republican he completely ignores the evidence from the Bush and Reagan tax cuts- ballooning budget deficits and a deteriorating economy. It can be argued, with good evidence, that Bush's tax cuts lit the match that caused the mortgage market to burst into a towering inferno. SOme guests on the show suggested that spending should be slashed. However a CNBC report also said that the main driver of joblessness is government, federal and local, that is laying off workers. Either these so-called economists have had a lousy education, or they are consciously trying to hoodwink the masses. Unfortunately neither is a crime.

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