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Cavuto Bangs the Class Warfare Drum Loudly

Reported by Ellen - March 24, 2009 -

Guest blogged by Dan

Fox Business' Managing Editor, Anchor, and Lord High Everything Else is certainly in the groove. He lost the "Obama Decline" in the stock market story as the market has had a few excellent days and a few good weeks. But apparently a new memo came down. "Class Warfare" is in and Neil is on the bandwagon.

In his FOX Business column yesterday (3/23/09), Cavuto writes:

"You want more market days like today?

Quit dumping on the rich every day."

Oh, that's it. The Washington Post headline, "Treasury's Bank Plan Sparks a Broad Rally" (pg. D-1) must have it wrong.

Cavuto continues,

"And we have yet to see whether big hedge funds step up to the plate, even with the backing of the government.

That's not because they don't want to work with the government.

But many seriously wonder whether the government wants to work with them.

After all, these well-heeled private types have been getting quite a public beating of late.

They see Washington on a bonus tirade."

Neil confuses the bonuses at AIG, Merrill Lynch and others, PAID WITH TAXPAYER MONEY, with bonuses in general. Is this intentional?

Cavuto says,

"Because while some can afford to say yes now, they're not entirely sure they'll be able to say yes later.

Not when Uncle Sam’s about to raise their taxes, and take away their deductions.

And not when states like New York and New Jersey are looking to slap a surtax on their fortunes.

No wonder they've been reining in their spending."

I will gladly defend the proposition that the "Great Recession" has hurt us all, regardless of the rung on the economic ladder. I will not defend the proposition that the wealthy are reining in their spending in anticipation of possible tax hikes, or expiration of Bush Administation tax deductions (no difference).

Then, ignoring the kinds of attacks on the poor going on right in his own backyard at FOX News, Cavuto took another backhanded slap at them by playing the victim: "Then there are those ugly little French revolution scenes in Fairfield County, Connecticut...where a lot of rich folks live."

Yes, mandatory class warfare references must be in the corporate memo.

"So Washington, heed well what's going on here.

You risk another revolt...a rich revolt.

And you don't want that.

As much as you hate them, you need them."

Cavuto wraps up with potentially the worst possible argument possible, "Be nice to the rich or they will wreck your economy". Because, if you assert that the rich are fundamentally different from the rest of us (I don't), and you assert that they will use their economic power to the detriment of the majority. Then you have built the strong argument to strip such power from the hands of those who would use it to injure the country and place it in other hands.

Didn't Cavuto take logic in school?