President-elect Donald Trump’s transition continues to go smoothly. Better than smoothly. Confidently. More than confidently. Transcendently.
Larry Kudlow | All Articles
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Larry Kudlow is a senior contributor on CNBC
If President-elect Donald Trump’s economic growth plan -- slashing business and personal marginal tax rates and rolling back costly business regulations -- is achieved next year, the economy could break out with 4 to 5 percent growth. And that means much higher interest rates.
We knew there could be a big October surprise before this bizarre and unpopular election finally came to an end. But who knew it would come from e-mails found on a device used by former Rep. Anthony Weiner that was confiscated by the FBI after he sexted an underage woman -- an act that cost him his job, his income, and his marriage?
When the now-infamous Donald Trump/Billy Bush audio feed was released, my confidence in Donald Trump all but evaporated. The so-called locker-room conversation -- about kissing, groping, and fondling women -- was worse than locker room. It was vile, vulgar, and inexcusable for a grown man.
You’ve got to hand it to Team Hillary Clinton. Their message discipline is awesome -- at least in terms of taxes. It reminds me of the orderly march of the Chinese Red Army on the way to battle.
Fifty-four years ago, at the Economic Club of New York, President John F. Kennedy unveiled a dramatic tax-cut plan to revive the long-stagnant U.S. economy. He proposed lowering marginal tax rates for all taxpayers and reducing the corporate tax. He advised lowering the top tax rate from 91 to 65 percent and closing tax loopholes. Five times during the speech he used the word “incentives.”
The election season is heating up, Donald Trump has pulled back even with Hillary Clinton, and every new economic number is being scrutinized for its supposed political meaning.
Doing the same thing over and over again and expecting different results, when in fact the results never change, is one definition of insanity. That definition works for economic insanity, too.
Did Hillary Clinton actually propose raising middle-income taxes in a recent speech? The audio suggests she said “we are going to raise taxes on the middle class,” although the prepared remarks indicate she meant “we aren’t.” Well, these things happen. But the fact remains that Hillary Clinton’s proposals to raise taxes on so-called rich people, rich corporations, Wall Street, investors (capital gains, dividends, and financial transactions), and estates will greatly harm middle-income wage earners who have essentially not had a pay raise since the year 2000.
This economy may be perilously close to recession. That was the message of the second-quarter real-GDP report and its meager 1.2 percent growth rate.
Ted Cruz essentially gave a career-ending speech at the GOP convention on Wednesday night.
Donald Trump hit two home runs this week. The first, immediately following the horrific terrorist truck attack in Nice, was his statement in a media interview that if elected he would ask Congress for a declaration of war to combat global terrorism. The second was the inspired selection of Indiana governor Mike Pence to join the GOP ticket.
The original Magna Carta was a charter agreed to by King John of England in 1215. It just celebrated its 801st anniversary. So no, I wasn’t there. But that charter has become part of an important, iconic, political myth that the deal between an unpopular king and rebellious barons marked the beginning of individual English freedoms, personal liberties, and due-process protection of individuals under the law. Magna Carta has also been cited as providing the essential foundation for the contemporary powers of Parliament and legal principles such as habeas corpus.
Famed investor Wilbur Ross recently told CNBC that “Trump represents a more radical new approach to government that the nation’s economy desperately needs.” He’s right. Trump seeks an overthrow of the establishment. He’s a disrupter. Just what we need to fix the economy.
The May jobs report was a shocker, with nonfarm payrolls up only 38,000 and private jobs up a mere 25,000. A lot of investors and economists are making the case that this was a weird, one-off, statistical glitch, and that stronger employment is on the way. They may well be wrong.
This column was co-authored with Stephen Moore, chief economist at the Heritage Foundation
Mark Zuckerberg and his massive social-media site Facebook have come under strong criticism for allegedly suppressing stories of interest for conservative readers from its influential “trending” news section. Facebook has roughly 1.6 billion users worldwide, of whom 167 million are in the United States. Its “trending” topics is therefore a powerful political influence.
Cathy McMorris Rodgers, the GOP House leadership member from Washington state, finally uttered the words I’ve been waiting to hear with respect to Donald Trump’s march on the nation’s capital. In an NBC News interview with my pal Luke Russert, she said that Trump is a “disrupter,” and we have to learn that that’s a good thing.
Donald Trump has swept the primaries and is now the presumptive GOP presidential nominee. His almost unbelievable primary surge -- from New York to Indiana -- was nothing short of breathtaking. He has confounded almost all the pundits and a majority of elected officials.