Kudlow Unloads on David Cay Johnston

From Kudlow's Money Politic$:

Mr. Johnston singles out the top 145,000 taxpayers who comprise the top 0.1 percent of the income distribution in 2002. Their average income was $3 million, two-and-a-half times the $1.2 million (adjusted for inflation) that group reported in 1980. Oh, my gosh. They were successful earners and investors.

Over that 22-year span, they were probably the very same people who launched tens of thousand of new companies that hired roughly 40 million net new workers that completely revolutionized the U.S. economy through unbelievable breakthroughs and innovations and inventions in information technology, communications, finance, health care, retailing, and so forth.Imagine that -- 145,000 people. What should we do, go out and shoot them for their success? It is these entrepreneurs that use their God-given talents within the Reaganesque free-market framework that deregulated and slashed tax rates to provide the first strong dose of economic incentives since the 1920’s. These folks should be praised, not punished.

Read the whole posting here.