Kudlow: Socialism Brings Poverty, Not Prosperity

ET:

WASHINGTON—Top White House economic adviser Larry Kudlow denounced socialism, which has become popular among Democratic presidential candidates, calling the political ideology “a loser.”

“Look, I am an ex-Democrat,” Kudlow said. “Actually, I have worked for two presidents who were ex-Democrats, Ronald Reagan and Donald Trump.”

“I will say this, socialism is a loser. I don’t want us to forget the lessons of the past.”

Speaking at a National Press Club event on April 23, Kudlow said collectivist, central planning, and government-run economies throughout history have failed.

“They sap our morale, they reduce our freedom, they tend to turn into really tyrannical political situations.”

Kudlow’s remarks came amid rising support for policies among members of the Democratic Party such as Medicare for All and the Green New Deal. The Trump administration repeatedly has accused Democrats of going “far to the left” and becoming “radical” for embracing such ideas.

“But most of all, from my standpoint as an economics guy, they don’t have prosperity. They generate poverty,” Kudlow said.

“We are at the beginning of a new prosperity wave in this country. We are the hottest economy in the world. Confidence is building,” he said. “Why would we want to pursue policies that could—I think in total—slice 15 percent of GDP right out within 10 years?”

The Medicare for All plan would cost the economy more than $32 trillionover a decade, according to a study by the Mercatus Center at George Mason University, a libertarian policy center. Historic tax increases would be required to pay for the price tag, stated the report. And these tax hikes would lower household incomes by $17,000 annually, according to the estimates of the White House Council of Economic Advisers.  more

4 Comments on Kudlow: Socialism Brings Poverty, Not Prosperity

  1. Not sure which I enjoy more — listening to Kudlow describe the economy or listening to POTUS Trump go on and on in praise of how Kudlow describes the economy.

    (Does anyone here remember who the chief WH economist was under That Other Guy? Neither do I.)




    6
  2. Socialism did NOT make America the richest, most powerful, productive and generous nation on the face of the planet! Capitalism did!
    The Obamboozler’s efforts to “fundamentally transform” American was only to intentionally make our nation weaker! All a Socialist does is formally legalize theft and rob the productive citizens.
    Giving to the needy… not so much unless you count “needy” Politicians who of course become fabulously wealthy! To the next generation: Read some real history for a change! Open up a book!




    3
  3. More to the point, FREEDOM made America Great, and still does, even though we have people attempting to stifle it when it’s their job to protect it.




    3

Leave a Reply

Your email address will not be published.




Do NOT follow this link or you will be banned from the site!