“300,000 people living in New Orleans, divvied up, that $127 billion would come to $425,000 per person, according to Kudlow.”
You are repeating something you now know to be untrue. Why would you do that?
The part of this column I liked best, which no doubt you believe is incorrect as well, was this: "Remember President Reagan's line during the 1980 campaign about how Lyndon Johnson fought a big-government spending war against poverty, and poverty won? Well think of all this Katrina spending as the Great Society Redux. And it failed. I suppose the current Bush administration would like to label this "compassionate conservatism." But guess what? That failed, too.
"Right from the start, New Orleans should have been turned into a tax-free enterprise zone. No income taxes, no corporate taxes, no capital-gains taxes. The only tax would have been a sales tax paid on direct transactions. A tax-free New Orleans would have attracted tens of billions of dollars in business and real-estate investment. This in turn would have helped rebuild the cities, schools and hospitals. Private-sector entrepreneurs would have succeeded where big-government bureaucrats and regulators have so abysmally failed."