Posted on 03/04/2016 8:03:54 AM PST by RoosterRedux
Economist, radio host, and CNBC senior contributor Larry Kudlow appeared on Breitbart News Daily Friday morning to discuss economic issues in the presidential race, including his support for Donald Trump’s economic platform, with some disagreement about the best way to handle unfair Chinese trade practices.
Breitbart News executive chairman and host Stephen K. Bannon asked Kudlow to comment on the rise of “populist, nationalist” economics, as personified by Trump and his supporter Alabama Sen. Jeff Sessions (R-AL), and the challenge this movement presents to free-trade orthodoxy, which Bannon described as a “fetish” in certain intellectual quarters..
“Well, I may be part of that fetish,” Kudlow said with a chuckle. “Free-market capitalism is the best path to prosperity.”
Kudlow said he found Trump’s platform very agreeable to free-market growth: “He has a very good corporate tax-cut plan, across the board, for large companies and small companies. He’s got a 15 percent rate — we’re about 35 to 40 percent now.”
“So let’s say that became law,” Kudlow continued. “You’d see a movement, a tremendous movement, of capital and labor back to the United States, that’s in China and overseas, because we’d have a more hospitable business tax environment. You include immediate deductions for new business investment, and you include repatriation, which is all in Trump’s plan, and you’ve got yourself a powerful incentive to move back to the USA.”
Kudlow thought such “incentive economics” were better tools than the tariffs Trump has proposed for punishing businesses that move overseas, preferring carrots to sticks. However, he agreed that stern measures were needed to deal with China, which Bannon described as a “mercantilist society” — the government actively harming foreign competition to give native industries an edge.
(Excerpt) Read more at breitbart.com ...
LOL
I could name some, but why bother?
You left out stupid, fascist and crazy!
Yes who do you trust to know a business friendly tax plan more, a lawyer or businessman? I owned a small business for 17 years until Ofail finally regulated me out. Trump’s tax plan would have been great for me. TEDs, not so much.
If we can somehow get Trump elected I think he will do a fine job and as soon as Mitch and the boys see that he is a reasonable guy they will get on board.
The campaign rhetoric is producing a distorted view of Donald Trump which we need to look past.
Rookie $inators with law degrees should be banned from messing with our economy and security. They should be only on committees dealing with the color of the White House.
ROFL...Let’s put that before the new president (when Trump is elected.)
Everyone is a RINO these days.
After President Trump is sworn in. He will remove every EO the Muslim has signed.
Then he can ask Senator Sessions to ensure that rookie $inators with law degrees can never do any legislative work without Sessions’s approvals.
All of their McMansions around the beltway fall into foreclosure : )
One change. No more Hope stuff!
Yeah..
“If you lower marginal tax rates on business, both large and small… if you roll back regulations, for example, let’s go to right-to-work laws, which would make us much more hospitable to investment… those are the things that would help America, and that’s what we should focus on,” he advised.
I agree.
These statements will be impossible for some people to accept. Some think corporations are the problem, and we can tax them endlessly without any adverse affect to ourselves. Others claim unions serve the working man and are the source of prosperity. A popular mistake at FR is that free trade is the problem.
Businessmen have some insights that others lack, but they too see only part of the picture. As with other people, they often tend towards simple solutions that benefit themselves (at least initially). The best approach is to learn economics, but avoid the Marxist economists. Marxism is so bent on “social justice” (stealing) that it corrupts everything it touches.
How about not? If there have been a lot of murky deals done during the Obama administration I'd rather have someone ferretting them out who knows what he's doing.
In so many ways Trump is the Bull in the China Shop.
However, on the Econ side, He has Larry Kudlow, Art Laffer & Steve Forbes .
Yes and no.
NONE of the above will endorse his increased tariffs.
Well played Leto. Yes, he is going to have to revisit that or these guys will call him on it...
China's multiple barriers to American products
[snip] "Tariffs
The Chinese government imposes high tariffs upon many American products. The report states:
China still maintains high duties on some products that compete with sensitive domestic industries. For example, the tariff on large motorcycles is 30 percent. Raisins face duties of 35 percent. (p. 60)
Selective Use of VAT
According to the report, China makes selective use of its Value-Added Tax to keep out American phosphate fertilizer: In 2001, China began exempting all phosphate fertilizers except diammonium phosphate (DAP) from the VAT. DAP, a product that the United States exports to China, competes with other phosphate fertilizers produced in China, particularly monoammonium phosphate. (p. 60) Procurement Directives
The report points out that China makes use of procurement directives to keep out American telecommunication equipment: There have been continuing reports of the Ministry of Industry and Information Technology (MIIT) and China Telecom adopting policies to discourage the use of imported components or equipment. For example, MIIT has reportedly still not rescinded an internal circular issued in 1998 instructing telecommunications companies to buy components and equipment from domestic sources. (p. 60)
QIPs to Keep Out Agricultural Goods
The report points out that the Chinese government uses Quarantine Inspection Permits (QIPs) to keep out American agricultural products, causing costly delays while they sit on the docks:"
He will clean up the dog parks of dog dew...
sorry, had to say it...
Kudlow was RINO before it was cool.
Larry Kudlow is a good man to have on your side. He understands the economy and describes it in basic terms.
I think Kudlow has been a Republican more consecutive recent years than Trump. Each is a RINO in the eyes of some people.
Kudlow is proud about being part of the GOP establishment. He can’t conceive of why anyone wouldn’t want to be.
A far cry from his college days:
Lawrence A. Kudlow was an early Baby Boomer, born in the summer of 1947. He grew up in Englewood, a northern New Jersey suburb with many upwardly mobile families. He was one of a couple of Jewish boys at a private school called the Englewood School for Boys, a tennis star, editor of the student newspaper, an actor in school plays. The family owned a textile business, worked hard for Republican causes and frequently replaced the Jaguar in the driveway with a new model.
Had it not been for the Vietnam War, Mr. Kudlow’s years in the University of Rochester’s class of 1969 might have been best remembered for his star performance on the tennis team. But at some point Mr. Kudlow, a history major, traded in his Porsche for a VW bus, let his hair turn “fuzzy” and joined the left-wing Students for a Democratic Society. Asthma saved him from the draft.
What distinguished his brief career as a radical and antiwar organizer was less what he accomplished than that he managed to have it chronicled by The New Yorker magazine in a piece about the leaders of a nationwide protest in 1969. That was an early sign of Mr. Kudlow’s gift for attracting media interest.
Indeed, Larry Kudlow has always had a knack for reinventing himself to adapt to the times, and the persuasiveness to make others follow him.
http://www.nytimes.com/1994/04/03/business/a-wall-st-star-s-agonizing-confession.html?pagewanted=all
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