Watch: Rand Paul's Economic Logic: “There Are No Rich People”

Rand Paul's got a plan to fix the economy: we just need to stop punishing all the sad, pathetic yacht-owners. In one short, circular statement made to CNN's Wolf Blitzer Tuesday night, the Kentucky Senator-elect has summed up the right wing's economic views as succinctly as a one-panel cartoon. When asked if he would end the $830 billion tax cuts for the wealthiest Americans, Paul responded that doing so would “cause a second great depression” and that “raising taxes in the midst of a recession would be a disaster for our economy.” And, to clarify exactly why he believes taxing those citizens making over $250,000 would lead to an economic apocalypse, Paul explained that in his eyes, “There are no rich. There are no middle class. There are no poor. We all are interconnected in the economy. ”

To underscore his ridiculous point, Paul noted that when “they tried to tax the yachts” the people who suffered were not the rich, but “the people making the boats, the guys making 50 and $60,000 a year.” That quote is not just a random fact he seemingly pulled from space... it underscores how removed he is from reality, considering the national poverty level is $22,050 a year for a family of four, and over 17 percent of the population is living below it in his home state of Kentucky. But for someone who believes in the notion of plutocracy–and who advocates cuts in government spending, except when said cuts affect his personal income–that's a pretty inconvenient truth.

Check it out:

AlterNet / By Julianne Escobedo Shepherd

Posted at November 5, 2010, 4:05am

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