There’s an insidious virus that’s bringing unnecessary fear and panic in America right now, and that infectious disease is CPAC (Conservative Political Action Conference). Indeed, it’s that magical time of the year where laissez-faire capitalists, white nationalists, and christofascists get together to scare the crap out of rich white people.
And that’s precisely what Larry Kudlow, President Donald Trump’s top economic adviser, did.
In keeping with the CPAC theme of “America vs Socialism,” Kudlow presented the U.S. economy under Trump as a beacon of freedom under assault by the pernicious forces of socialism. Despite the fact that Trump inherited a strong and recuperated economy from his Democratic predecessor, and that the stock market had its worst week since the height of the recession in 2008 due to coronavirus anxieties, Kudlow claimed that socialism is a bigger threat to the US economy than the coronavirus.
“The virus is not going to sink the American economy. What is or could sink the American economy is the socialism coming from our friends on the other side of the aisle,” Kudlow said.
Kudlow managed to perpetuate the fallacy of equating mixed market, European-style capitalism with socialism and, worse yet, placate his boss by perpetuating the myth of buying cheap stocks when the market crashes.
“You might think about buying the dip,” said Kudlow, adding, “I am perfectly happy to have a socialist candidate [for president]. The American model of free enterprise will whip socialism every time, hands down.”
Here’s the thing, Mr. Kudlow: The majority of Americans are very much in favor of capitalism. The only problem is we don’t actually have an ethical and level playing field.
What we have is government run by and for the super-rich, as demonstrated by the fact that the richest 10 percent of Americans own 84 percent of all stocks. And it’s the biggest wealth gap in more than 50 years.
More troublesome is how Trump’s tax cuts delivered the biggest benefits to corporations while shortchanging working families.
Then there’s the sheer hypocrisy of decrying socialism when Trump gave a massive, tax-payer funded $28 billion handout to farmers due to the pain from his very own tariffs.
So please, spare us the pathetic and disingenuous speech about your boss being all about free enterprise.
Featured image credit via Gage Skidmore/Wikimedia