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larry: hello, folks. welcome to kudlow, i'm l arry kudlow. less than a day until the new hampshire primary. looks like it is all over but the shouting, in new hampshire donald trump putting together a unified republican party and sticking to his iowa theme, he can unify the country with successful policies on the economy, order, culture, foreign affairs. breaking news, a unity rally tonight with tim scott, vivek ramaswamy, governor doug with president trump at 9 p.m., we'll have a live report from there. and then senator marsha blackburn will react to that. but first, i want to get something off my chest, talk about a bad idea. something called a fiscal commission coming out of washington, d.c.

for some reasons, republicans like texas congressman jod jodey arrington been pushing to get this through. terrible, it is a tax trap. we have the do goofy commissions through the year, paul ryan shared one that would have raised taxes and damage the economy and simpson bowles and way back, george h.w. bush agreed to a tax hike. and projected that tax hikes would yield 159 billion of new revenue then, but they lost 206 billion from economic damage inflicted by the higher taxes. so the net loss 47 billion. didn't help the deficit. bill clinton raised taxes in

1993. cbo estimate later showed weaker economy lost virtually all of the projected revenue increase. and barack obama, he raised ta taxes in 2010 and 2013 then there was a 4 trillion revenue cost because of the economy. did not help t the sit, clinton cut taxes reformed welfare and deficit disappeared for 4 years with a massive growth gain of 4.5 per% year. best way to avert a crises is to reform indictments -- entitlements the next best way is growth, the

problem is they raise taxes at the very first meeting before the qu first cup of coffee was poured. whether it was jfk in 60s, reagan in 80s, clinton in his 6 term or donald trump, lower taxes have always been a successful policy to boost economic growth. more growth with more people working. with higher wages, that generate morse tax revenues to reduce deficits probably by factor of 2 to 3 to 1, that is the historical evidence. so, republicans now, show not be lulled to falling for another stony fiscal commission, governor trump a strong republican senate and house so the fiscal committees can do their job. and any moves to strengthen social security, should focus on market based investment choice. just like the federal thrift

savings plan, social security participants should have the option of purchasing approved stock or bond indexes, that over the long run would yield higher returns and create more wealth than the current system. which invests only in t-bills. and just like private retirement accountings social security to create more wealth for more peoples over the long run, cutting benefiters on raising tacks from another fiscal commission would be nothing more than fiscal insanity. americans for tax reform grover norquist will be here later in the show with his perspective on why this is terrible idea. enough said, enough, to madison alworth who is live in manchester, new hampshire with details, of donald trump's big unity rally, madison, what can you tell us. reporter: larry, you know

with ron desantis out we have a two person race, president trump has a commanding lead over nikki haley. latest poll showing him 19 points better than the governor, and as you mentioned he will host a rami tonight -- rally to nierkt tonight, some of his former opponents will join him in an attempt to show how the party is uniting behind the former president. they will all be at the rally this evening at 9 p.m., they will join him on stage. the latest endorser of president trump, rhon , ron desantis will not be in attend dance, nikki haley has held 3 evens today, trump has a big lead, but with under declared voters, that is biggest voting bloc in new hampshire, haley has a 10 point lead there both

candidates have a few more hours to go before voting starts here in new hampshire, polls open at mid nierkt but r -- midnight, we're hearing that we are expecting strong attendance as well. >> all right great stuff thank you madison alworth, to tennessee senator marsha blackburn. welcome. fabulous to see you. i want to play some sound about this unity business. here and i think it is tim scott, in an interview with breitbart take a listen, please. >> the race is over, politically speaking, there are dead people walking. it is time for this republican party to focus only on one person. that is eliminating joe biden by electing donald trump. >> senator blackburn, dead

people walking according to tim scott, interesting phrase. does it look to you like basically this is all over? >> it is so important, that we unite behind president trump and make certainly wins, i am delighted that see so many of those who have run against him, standing shoulder-to-shoulder with him, indeed it is time for us to move to the general election phase of this, you know. any dollar that we spend on primary opposition when there is no path for anyone else to get the republican nomination, no path, so any dollar that is spend is a dollar that can't be spejt. spent, time that can't be spent talking about why we should elect president trump

and why we need to defeat joe biden and the democrats. so, that time has come. it is time for us to unite behind president trump it is time for us to focus on taking the u.s. senate, keeping the u.s. house, and making certain we do well in state elections for governors and state senate and state house it is time for the republican party to run strong, and focus on that general election focus on that message, and focus on electing pres president trump. >> senator blackburn, a lot of folks myself included like the unity message that came out of iowa caucus night. unity message not only for the republican party, which appears to be happening, but also a general elect theme, unifying around key policies, you know taxes, the economy and inflation

and border, and culture. former president trump said, unwhat, successes would be a great unifier, that is a very important theme, but your take on this. it is a relatively young theme for president trump. but think hurricane harvey he -- is on to something. >> i do, i believe that speech he gave in iowa was gracious, i think it is hit the right tone for what the american people want to hear. they are troubled by what they see at the border, they know since first of this fiscal year, we're now at 80 known terrorist watch list names that have come to that border, they are bothered by crime in the city and drugs in their communities. and the human traffics and sex traffics they see taking place. they know that gangs are in communities where gangs have never been, they know

inflation is out of control, the price of food, the price at pump, the price to heat and cool your home. this is all of the inflation, look at where it is. and they know that white house is fibbing, when they say, well inflation is down, it is only 3%. but they know better than that. larry, focusing on these areas where president trump was so successful, unwhen you look at the -- you know what you luke at polls and you look at independent voters you look at female voters, they are come back to president trump, why is that? it is because they remember very well how they were so much better off under president trump. they know that biden is bidenomics has not served them well. larry: you know, just on the point 'immigration, you were talking it immigration crisis. finally, three years later even joe biden acknowledging we have a problem.

but the bill coming out of senate looks like a very poor bill. and you have been critical of it in some of your collisions as well in the senate, a lot of -- for example worker permits to illegals and green cards to illegals, and h-1b children, can become citizens this u.sdoes not sounded liking that that will close the border. >> and what we need to do, to say there is a way to close the border, it is called enforce the law. how about that. build that barrier, that border patrol has been asking for, for the past 30 years, they said we need a barrier, we need better technology where we can't have a barrier, we need more officers and agents, we need to deal with the asylum previsions, we need to deal with parole. but you have to stop the influx, there were 302000

people that came to border in december, they raised their hands and said the word asylum, so now they have been waved in. this has to stop. and i have length laying -- length legislation that would allow the state to protect the border, calmed t the contrarier act -- container act, we don't want to see anything done to make illegal entry legal. any time you want to make illegal immigration legal, what you are doing is i emboldening the cartels, right now nobody comes to that border without paying the cartel. so we need to secure the border, to be resolute in that and stop saying this administration needs to stop this business trying to make illegal immigration legal.

larry: i -- what caught my eye was that business. immediately work ter mitts, to ill blg -- permits to illegals released in custody that could be 8 million people, that does not make sense. last one, you have criticized the white house, looks like they are trying to move money from veterans to the border? i don't understand why would anyone want to do that? what is the point of that, hurting the veterans to help the border, which border stuff is mostly facilitation money not close the border money. >> and what we have been very concerned about is what we found out v.a. was doing, spending millions of dollars on referrals to committee care for illegal immigrants and claims processing, we have a case backlog at the v.a., right now, today, of 1

million u.s. veterans who cannot get health care, they cannot get their benefits. they are in the kuwa queue, they are waiting and the v.a. is spending time and money on processing and access to healthcare for illegal immigrants, i want you to think about that. they are putting them in front of our veterans, this is what i'm saying about this administration. they are doing everything they can -- they are jumping through hoops to trying to find ways to make illegal immigration legal. this is another reasons we need president trump back in the white house. because he secured that border, and during his time, i think we had 11 known terrorists that came to southern border, now we have 80? this shows you, 80 since first of the fiscal year, this shows you that people think that border is open, joe biden said, y'all come.

and we'll take care of you. and the american taxpayer is sick of it. i till you something, i talked to a lot of moms, i say the security moms are back, job security, national security. border security. economic security. it is top of mind for them. larry: terrific stuff senator ma marsha blackburn terrific. >> you got it. larry: on k kudlow, is there really a biden boom as some in mainstream media suggest? polls don't show it, real wages keep falling, we'll talk about it with steve moore and ej antoni, you can catch kudlow, monday through friday here on fox business at 4, if you can't catch us at 4, text your favorite 9-year-old, she will show you how to dvr the show, you will never miss a unity

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larry: all right, new investigation from government accountability ovoffice shows u.s. department of agriculture

lost track of china's attempts of buying up american farmland, grady trimble is live in dc. good evening. reporter: good evening, i visited some of the farmland in iowa, this is certainly a concern, after you read through this report, it raises more worries about china-linked companies buying up our farmland here in u.s., i want to show you the map from department of agriculture, areas in orange, those states have high foreign ownership of farmland, 2.4% or more and the gao report, calling into question all of the usda data finds that agdepartment does not share timely data and processes to collect, track and report key information are flawed. here is one example of error, usdada countinged

largest holding with people's republic of china twice, over stating how much land they might own, but raising concerns about how they are keeping track of data. republican c congressman dan newhouse said that confirms our fears. there is no plan by the department to internally reverse this dr dangerous flaw, some democrats are sounding the alarm as well. >> i mean, they are taking back our pandas, we should take backo farmland. and back their farmland, this is a national security issue, it is a food security issue. reporter: so senator fetterman referencing panda in dc that china took back last year, sort of in gest,

but there is a bipartisan group of lawmakers who believe that china owning our land is not only a food security problem but national security problem, especially when ity is close to our military bases. larry: grady trimble we appreciate it, and senator fetterman, talking about the economy. is there really a biden boom? stocks are up, inflation down. very interesting. but on the other hand real wages seem to be fall being have steve moore committee to up leash prosperity hot line and host of moore money, and ej antoni . welcome, the index of leading indicators today fell for 21th straight month, the conference board itself, is predicting a recession, i guess this year for the second and third quarters, that is what they are saying.

ej, lower inflation, higher stock prices, mainstream media saying there is a biden boom. what do you make of that? >> biden boomer or bust, i think. the problem we look at different numbers it is hiding reality that average american is facing right now, yes there are spill a lot of american -- spill a lot of americans with high incomes and high net wield wealth, but what about everything else, for most americans, they have exhausted their pandemic-era savings, bottom fifth of americans exhausted about all savings, and they are going deeply to debt, if you look at gdp, consumer spending and government spending are sustained by debt. larry: i don't like that debt argument that much, steve moore always is a debt obsessor.

real wages falling are not american as apple pie, we have your chart from hot line push learned this morning. -- published this americans, shows that inflation is outpacing both nominal wages, and -- wait what is the red. >> the red lines. still negative. larry: that is the achille's hill of bidenomics. >> you told me when you work for reagan you talk about real take home pay. larry: that is it. >> real take home pay, that chart shows real take home pay for most workers not as down as a year ago, but it is still down with the 18% increase in prices when wages are up 15% or something. larry: is this the slump in real wakes, is this for everyone? or the middle quintile or lower. >> these are median i believe.

>> typical average family. >> the thing, here in new york or in wall street, and in washington, d.c., there is a bubble. they are not really relating to people who out in main street america are struggles financially that is what the numbers show, that is why you still have despite the improved economy, you have about 2 out of 3 voters saying i'm in worse shape now than financially when former president trump was president. larry: that is a key point for this good news, stock market is up, no question, interests are down. inflation is down. but level of prices is still outstripping wages, but you don't see it in polls data. not yet, that is some be a cautionary tale for mr. biden, i think it has to do with lack of confidence in joe biden. >> i agree. >> numbers are worse than the economy is. his numbers are worse. the people don't have confidence that he is a

leader, people see the problems in the economy. and they see that this is not a sustainable thing, i would play into with the foreign policy, with the border and all of these things makes americans feel that the country is not headed in the right direction. larry: we have jamie dimon ceo of j.p. morgan, ill i'll read it, causing everyone at davos to implode. take a step back, he said, be honest, he meaning trump, he was kind of right about nato. kind of right on immigration, h he grew the economy quite well, trade and tax reform worked. and he was right about some of china. that is jamie dimon, that is causing a davos meltdown. ej, i don't know if he is trump's biggest recruit,

jiemy jamie dimon is a mart guy. >> at the end of the day it comes to your pocketbook, does not matter if you are the average american or a financial titan. at the end of the day it is about the bottom line, people like dimon are realizing now is that biden is not good for, they are not looking forward to the increasing coming down the pike. larry: one more from davos, a carbon tax, a global t carbon tax. >> horrible idea. it was a bad week at davos for the globalists and socialists, you know for redistributionists, people are sick of it. that was a great statement by jamie dimon and argentine president melie said that socialism is the problem.

larry: and trump romped in iowa, he did. >> great week for him. larry: worst d davos nightmare. >> the best thing about trump right now, she talking about issues, i love, that he is talking about taxes and border and wages, when he talkings about issues he is the best, one last thing, i am pro-pand ai want them back larry. larry: i want the farmland back. steve moore and ej antoni thank you. >> on kudlow, stop the phony fiscal commission. stop it at all costs, republicans should not be lulled into this, we have grover norquist of americans for tax reform that talks about it and then d donald trump said that success is a unifier not only for the g.o.p. but country, he have hogan gidly and caroline down t downey to

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larry: all right, fani willis fiasco continues down in geo georgia. steve hair is live in georgia with details. reporter: well people are poring through the documents of a divorce case that prosecutor wade paid more than 650 thousand, more of what was found last friday, a lawyer for estranged wife of wade released bank records showed that wade bought plane tickets for himself and his boss the da. some legal observers are saying, it might be time for the da to step aside. >> i think that the case is -- has not gone off the

rails already it is about to, i don't see anything good coming from her statement charge of the case at-this-point. and i think a lot good can happen if she steps away, this is a huge distraction. reporter: judge set a hearing for february 15 look at whether there was an improper relationship between the da and pos cuter prosecutor and whether or not they misspent the money themselves. larry. larry: all right. thank you steve, we appreciate it very much. lovebirds. we'll get to, that meanwhile. let's talk about this fiscal commission out of washington d c, nothing but a t tax trap, we track with grover norquist, president of americans for tax reform, why do republicans fall for this nonsense time again, here they go again.

>> they have not yet. but the problem is spending, the problem is spending. the problem is spending. and we have senator from utah, mitt romney coming out with a commission which will recommend tax increases. and do around the ways and means commity on the house, which republicans control. and change spig smith would neff a never allow a tax increasing, yet they have a commission, it says forget about trillions that democrats spent that brought us this inflation that is not what we want to talk about let's talk about tax increases. because talk about trying to stab president trump in the back. to damage the republican majority in the house and put it at risk, republican party that -- if romney is allowed to put forward in fronts of congress and say

let's talk tax increases, and say tax increases are on the table. everything is on the table. 100% death t tax, no tax increases is off of the romney tax increase proposal. larry: i think grover we have some mitt romney sound bite. liten, you will love it. >> revenues as well as spending at their other ideas there is a arbitrage idea put forward by a couple of senators all ideas are open. >> including revenue. >> yes. larry: you know, grover, i could go for higher revenues if you lower tax rates and grow the economy at 4% that semirevenue. i don't think that is what senator romney was talking about. >> no. it is not. they are talking about tax increases, this will destroy the trump tax cuts. it will put an end to continuing the trump tax

cuts that is on the table. then they will go back and what it is democrats want to take away, trump tax cuts that brought us economic growth that is what will be on cutting board. we need economic growth. we don't need higher taxes. we need spending restraint. the modern democratic party in power for last 3 years, has been spending like crazy. they want to take that off of table during the debate, during the campaign, and trick some republicans into saying something about a tack increase, and romney is falling for it they will say this is the republican plan tax increase on social security and your income. spending is the problem. larry: spending is the problem, grover norquist thank you we appreciate it. >> thank you. larry: all right, let's kind of bring in a different subject did you related rkd . hogan gidley vice chair of american first policy

institute center for election integrity and caroline downey, reporter for the national review, jason smith is coming on in a minutes head of house, ways and means committee, why would republicans want to go for a goofball deal that raises taxes and under cuts their own presidential candidate what is wrong with them. >> if you are asking me to explain political calculus of mitt romney it is a weird segment that is difficult to do. larry: not enough time, we'll drop that. >> good. larry: you are opposed to this? >>, of course,. larry: i am -- caroline, serious matter. president trump terrific, b brilliant iowa caucus victory speech, continuing in new hampshire, very gracious open arms when

governor desantis came around and senator tim scott, i think idea of unity and unity based on success for general election is a powerful thing, people are not giving him credit for it. i want your change. >> aircraft agree thi -- i agree that is a refreshing change. loves governor sununu, but beyond it bee a good primary strategy this is a good national strategy to lean to big picture go on offense against the biden administration, and to speak optimism about the g.o.p. larry: hogan, interesting, joe biden, who came in as a unifier, has been one of the meanest, most devicive racial oriented -- everything. maga, lying untruths and et cetera. and i think what caroline

said is interesting. i think you might see results of trump's graciousness and his unity theme in tomorrow's election. i have a feeling that independents or whatever they are calling theming in new hampshire -- them in new hampshire, i think a lot of go for trump, they know the rest of the package is right on the issues, m new hampshire is a low tax state. >> i hope so, live free or die is the motto of that state. here is what i caution everyone oi think this trump's message of f unity it important. you see folks like die it desantis coming on board, here is what i worry about, the never trumpers, you brought up mitt romney. we were told, the blue collar ring, our policies

and or way of life, american first issues are better in our hands than in democrats, the never-trumpers look at donald trump saying that is a step too far, i say, excuse me, to heck with you, we did this for cycle after cycle with your establishment elitist picks, now you have someone that wants to push forward american policy that approved lives of all americans, get onboard because what biden is towing to this country is -- doing to this country is destroying it. larry: they might not, they sort of never do, i have lived with this for further years -- 40 years, this same crowd, trump, trump is the person who will stop the washington swamp. okay. he will drain it. here give it his best shot. he knows more now than he knew 4 years ago. he learned. he has learned from his slickrvictory and

defeat, to hogan's point, i don't think that romneys of the world, mitt romney is a friend of mine even though we have political disagreements and mccain. so. what it is like, trump needs to go straight ahead, here is high position on the issues -- my position on the issues, america first, low taxes and immigration and border and culture, he will never win them over, it is life in the fast line, meanwhile hispanics improving, african-american improvement you see, he could widen the base, without kowtowing to old stayed republican establishment. >> you are right, growing minority coalition and other groups he is picks up by promising prosperity for all that is appealing to a lot of citizens and so, they could become his supporters and old wing, mitt romney wing, they fallout of fashion, 1980 g.o.p. is not

competitive in today's political climate, you said i lived during the reagan administration, i think overton window keeps shifting on how much rot is infecting washington, trump did recognize there is a don't state, i hope this time, we will crack the deep state, highs business acumen is most powerful thing the politician could spring. bring. larry: he is the best negotiator. >> no question. >> hogan gidley and caroline downey thank you. >> coming up, jason smith is cutting taxes that is my kind of guy, business tax cuts, investment tax cuts, real wage increases, i love it i'm kudlow we'll be right back. what do you mean? these straps are mind-blowing!

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larry: all right, missouri congressman, cutting taxes. by huge marginses, he is right here, jason smith. mr. chairman, i will call you that. first, you have a great bill. talk briefly about it

because immediate full expensing supply side ires ciders used to believe is pro growth, pro wage increases. >> there are 3 purpose provisions that expired or phasing out of the trump tax cuts from 2017 that you helped get through that is full and immediate expensing, interest de d duck -- deductibility and research and development this bill makes them whole until 2025, which is when call other provisions of tcjics spires, they were provision in tax cut and job cuts that helped economy, gdp was 1% above last 10 year window, that is how you bring revenues to the coffer, cbo was off by 900 billion in revenues that came in because of the tax

proposals and the tax cut in jobs act. larry: you had a bunch of democrats that signed on to it that was interesting. >> we are in a divided government, you have to give and take there are thingsy would prefer to not be in it, you have to have a balance, we passed it out of committee last friday, 40 to 3, 3 democrats voted against it. but all republicans all 25 republicans, 15 democrats voted for it it will move to the house floor and hopefully we'll be able to deliver some relief for small businesses for american families, this also helps to us compete with china, when luke at research and develop -- look at research and development china has almost 200% match above ours. we need to be competitive, r&d needs to be in united states not china. larry: you are doing some business with my old acquaintance ron wyden,

democratic chair of senate finance commit who supports this? >> yes, there was an agreement wean senator ron bron wyden and myself, i knew we would have to have a great relationship with senate, which is controlled by democrats we have been negotiating for months to find a a a c common ground, senator ron wyden has been a good partner. larry: what is next the floor of the house? you reckon you will get it through, then to the senate. >> absolutely, it will go to floor of house. larry: might -- i think that could helping stock market right now, stock market loves these things. it is good forever profit and profit and worker wages. >> economic impact of these few provisions, are in the hundreds of billions of dollars, so, of course, the

stock market should love and appreciate it hopefully it will to be floor the week we return. and i am expecting a large vote out of the house of representatives, sense it to senate. the senate is a different beast, but that is what the senators have to navigate. larry: a terrific fiscal commission, chairman jason smith running the ways and means committee. i am -- i don't know if you heard this discussion with grover norquist, the fiscal commission idea is a tax trap, do what you are doing, grow the economy. >> we need to grow the economy, if you look at how. the economy grew with good pax policy -- tax policy, the bad thing is that bad policy the sink the economy, you look at 2025 with 3.5 trillion worth of taskse --

taxesi expiring we better be smart and do the right stuff. larry: i got it we'll see you tonight at the prosperity dinner, jason smith, chairman of house, ways and means committee, cutting taxes, thank you, appreciate it i'll be rightle back. ge thanks to our advisor and vanguard. now i see who all that hard work was for... it was always for you. seeing you carry on our legacy— i'm so proud. at vanguard, you're more than just an investor, you're an owner. setting up the future for the ones you love. that's the value of ownership. if you try vaping to quit smoking, it might feel like progress, but with 3x more nicotine than a pack of cigarettes - vapes increase cravings - trapping you in an endless craving loop. nicorette reduces cravings until they're gone for good.

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