Larry Kudlow: ‘Put socialism on trial and convict it’
Larry Kudlow, the Trump administration’s top economic adviser, delivered Thursday a call to arms against socialism.
“I want you to put socialism on trial,” he said. “I don’t want us to stand idly by. I don’t want to let this stuff fester.”
Mr. Kudlow listed a litany of empty promises he argued that socialism presents to the American people.
He pushed back against the progressive call for the ultra-wealthy to pay a “fair share.” The top percents of the economy pay more than half of the taxes, while the bottom only contributes a fraction, he argued.
“They are proposing a state government control of the entire economy,” he said.
Mr. Kudlow warned that the progressive proposals that captured national attention and support from Democratic 2020 presidential candidates, such as universal health care agenda and the Green New Deal, could cost the government tens of trillions of dollars.
He said that there was a risk of losing 10 percent of the gross domestic product if these plans were implemented.
“It’s never worked,” Mr. Kudlow said. “The old Soviet Union proved it won’t work and it can’t work nowadays. Venezuela is proving it again as though we had forgotten.”