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Kudlow: Rise of the Tea Party is bullish

free-market power of political revolt is totally bullish for stocks and the economy

There’s a great story in Friday’s Wall Street Journal called “Tea Party’s Rise Gives Business Pause.” The thrust is that big businesses and their K Street lobbyists are worried that special tax breaks and subsidies for Wall Street, timber, fast food, road building, energy, farming, autos (such as cash for clunkers for the car lobby) and housing (including homebuyer tax credits for the realtor and homebuilder lobbies) will be blown away by the new tea-party representatives.

Well, they should be worried.

Quoted in the article, Raul Labrador, the tea-party-backed House candidate from Idaho, says he opposes all government programs that help one segment of business over another. “I’m against all of them,” he tells the Journal. “I don’t think the government should be picking winners and losers. We should have taxes low for everybody, and not just for a particular industry or segment.”

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