Larry Kudlow's case against Bidenomics

Larry Kudlow's op-ed is essentially what he's preached on his show. In his op-ed, Kudlow writes "Today’s column is not about Ben Franklin, though it’s worth noting that he, like many of the Founders, was an avid follower of the free market theories of Adam Smith, published in 'The Wealth of Nations' in 1776."

After that, he continued, saying "The real point of this column is to press the question of why taxes matter. They do. A lot. And incentives matter. To quote Art Laffer many years ago: Tax something more, you get less of it. Something less, you’ll get more of it. Why? Because in a free economy, which is certainly in line with our Founders’ legacy, we should reward success, not punish it. At the margin, if the extra hour worked, or the extra dollar invested, or the extra business risk taken, pays more after tax, that will propel an economy into prosperity."

I thought that Kudlow's op-ed sounded familiar. Upon further checking, I discovered that his op-ed was his opening monolog from Monday's program, which was titled Taxed to the Max. In his monolog, he rattled off "five factors right at the top that are a useful intellectual model leading to prosperity." Here they are:

First, low tax rates. Second, minimal regulations. Third, a sound, reliable, King Dollar. Four, free trade. And five, a strong defense.

Mr. Kudlow continued, saying this:

I would add only this: The crucial importance of the rule of law. Adam Smith wrote about this at some length in his earlier book, “The Theory of Moral Sentiment.” It was published six years before “Wealth of Nations” in 1759. But today I want to focus on taxes. That’s because the Biden administration has failed to fill in a single check in my prosperity checklist. I would ask my countrymen to think about joining us against the prosperity killers of high taxes, over-regulations, cheap money, uneven trade, and a weaker military budget.

The thing that's most likely to happen is a combination of Barack Obama's 'third term' and Jimmy Carter's 'second term.' We're pretty much guaranteed to see Carteresque Misery Index inflation. It's also likely that we'll see Obamaesque anemic economic growth.

The term misery index was created during Jimmy Carter's only term. It is calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate. Here's the segment following Kudlow's opening monolog:

Bidenomics is off to a terrible start. Combine the weakening US economy with high inflation, a border crisis of Biden's making and a Biden-caused war in the Middle East. This is shaping up to be a Biden trainwreck. Thus far, the only positives happening during this administration started during the previous administration. I'm referring, of course, to the vaccinations.

Thus far, Bidenomics is a disaster.