Some notable quotes from last night's Kudlow & Company:
The More Dems Change, the More They Stay the Same My fear is that these people really are headed down the wrong path—Hillary, Obama, Congress, the governors, and the legislatures—they really want to repudiate Reagannomics and supply-side economics. They want to try a new brand of economics, which pays people not to work, and taxes them if they do work. They want to tax rich people and give the money to poor people—and hope there are more rich people, which is just silly. They don’t like stores that sell high quality products at low cost. They want to make sure that people sell it to us at the highest prices possible, so we can get more jobs here. It’s crazy stuff.
-Arthur Laffer, former Reagan economic advisor & chairman of Laffer Associates
Hey, Mr. Taxman! If you take 2005, for example, 8.5 million tax filers declared capital gains. Of those 8.5 million, 79 percent had incomes of under $100,000. Now to a lot of people, $100,000 is a lot of money. But it’s not the province of the rich. So [Democrats] are so off base in saying they’re going to raise taxes on the rich. They’re nuts. [They are taxing] the basic core of America—some guy selling a small business, some guy monetizing his life’s work. He has a capital gain that is not indexed to inflation. And 80 percent of [these tax filers] have incomes of less than $100,000. [Democrats] are completely misguided in what they’re doing. Low taxes stimulate economic growth, I don’t care what [Democrats] say.
-Vince Farrell, managing director of Scotsman Capital