30 December 2006

What Time is it?

Trial lawyer/ladder climber/senator dude John Edwards has essentially been under a rock since going down in John Kerry's flames in '04. He's done nothing for (or to) this nation for a few years, except for having his lackeys try to snatch a PlayStation 3 from Wal-Mart (who he frequently beats in public), but now - tick tock - it's time to run for president!

Ravenscroft Dog Farm-approved economist and pundit Lawrence Kudlow is not impressed:

He's recycling an old page from the liberal Democratic playbook, saying that he wants to make fighting poverty the great moral issue of our time. He says he'll accomplish this by taxing the rich in order to help the poor. Oh, really?

Edwards forgets that entrepreneurs, not government, create long-lasting jobs and growth. Rather than government spending, it is economic freedom, through a strong incentive structure inside a market economy, that opens the door to new opportunities so that the non-rich can get rich.

Edwards doesn't understand that without incentives to reward successful investing, entrepreneurship and risk-taking, everyone gets poorer -- right on down the line. Additional investment taxing is precisely the wrong policy to improve wealth or poverty.

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