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“In terms of types of financial wealth, the top one percent of households have 44.1% of all privately held stock, 58.0% of financial securities, and 57.3% of business equity. The top 10% have 85% to 90% of stock, bonds, trust funds, and business equity, and over 75% of non-home real estate. Since financial wealth is what counts as far as the control of income-producing assets, we can say that just 10% of the people own the United States of America.” For those still doubting pernicious nature of Kudlow and his efforts, here are a few more examples: “The Greatest Story Never Told” appeared in Human Events in 4/06: “Today’s economy may be the greatest story never told. It’s an American boom, spurred by lower tax rates, huge profits, big productivity, plentiful jobs and an ongoing free-market capitalist resiliency. It’s also a global boom, marked by a spread of free-market capitalism like we’ve never seen before….Indeed, bashing big oil won’t create a drop of new energy. Nor will confiscating Lee Raymond’s bank account. Energy is best left in the hands of the free market. With this in mind, Congress should allow environmentally friendly drilling in the Arctic National Wildlife Refuge and the Outer Continental Shelf, more LNG terminals and the creation of nuclear power facilities.” To his credit, in this piece Larry openly proclaims his support for rapacious industries (i.e. Big Oil), outrageously excessive CEO compensation, and the rape of the environment for profits. Kudlow wrote “Bull-Market Cheers for Bush” on 2/3/07: “… George W. Bush became only the second sitting American president to visit the floor of the New York Stock Exchange…Huge cheers. Loud applause. This is the same guy the mainstream media loves to kick around — the same guy who suffers sinking polls while standing resolute on the subject of Iraqi freedom, and who gets virtually no credit for the Goldilocks economy and unprecedented four-year stock market boom. He’s also the same guy who continues to prove he has more character than most anyone serving in public office today.” Notice too how he cleverly intimates that he is not a part of the “mainstream media”, which he and his fellow reactionaries often label as “liberal” to maintain the illusion that the Fourth Estate is still performing its function as watchdog rather than serving as the propaganda network for the ruling elite. In response to the Israeli invasion of Lebanon in 7/06, Kudlow opined in “Israel’s Moment, the Free World’s Gain”: “Israel is doing the Lord’s work. They are defending their own homeland and very existence, but they are also defending America’s homeland as our frontline democratic ally in the Middle East….Repeatedly hostile actions by the totalitarians in Iran, Syria, Hezbollah, Hamas, and North Korea are all connected…. When the dust clears the world will applaud Israel for its courage. Sensible freedom-loving people everywhere will realize that Israel’s furious response in the face of senseless terrorist attacks will have made the world a better place. In fact, we are all Israelis now.”
Jason Miller is Cyrano's Journal Online's associate editor. Thomas Paine's Corner is his domain within Cyrano's.
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