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tv   Kudlow  FOX Business  September 28, 2023 7:00pm-8:00pm EDT

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♪ ♪ larry: hello folks welcome to kudlow i'm larry kudlow still in simi valley, at the reagan library. so let's talk about last's night debate. i don't think there is point in little bit sizing the republican candidates. -- in criticizes the
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republican candidates apart from few head-to-head explosions that we could have done without, there was more agreement on issues than disagreement, energy, inflation, over regulation, wokeness. china warnings. biggest division was probably over ukraine. you could be unfair. and say there were no magical moments lines, but you know they are hard to come by, here is one memorable line from ronald reagan to remind everyone of what a memorable line sounds like. >> governor reagan is against such a proposal. >> governor, there you go again. larry: that one is still playing 40 years later. at different points in the debate, i think each of the candidates had their moment, i know that pundits are
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scrambling to pick winners and losers, but i don't think that anyone stood out, there may be some minor polling hiccups here and there, but the big picture does not change, former president trump is still the overwhelming favorite to win g.o.p. nomination. i don't think that debate last night, changes mr. trump's front running status. i was disappointed that no one struck me as a real commander and chief for the economy. no one really blasted the big government socialism of bidenomic, nor did anyone make a clear case for a return to free enterprise capitalism as an engineer of
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growth and prosperity, no one called for an across the board slashing of marginal tax rates to grow the economy at 4, 5 or 6%, i was disappointed. i don't think that anyone convinced voters that the g.o.p. will absolutely be the best stewards of growth and prosperity. there was snippets here and there, but no comp h comprehensive plan, no oomph. no medium rare stake that was so good i wanted to take home some slices and share it with my little doggy. i did have a couple of favorites to share, for example senator tim scott, bravely attacked great society welfare spending, he believes was so damaging to african-american families. >> here is the challenge.
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black families survivor slavery, we survived pole taxes and l literacy tests and discrimination woven into the laws of the country. what was hard to survive was jo johnson's great society where they decided to put money or they decided to take the black father out of the household to get a check in the mail and you could n measure that in unemployment, crime and devastation. if you want to restore hope, restore the family, restore capitalism and put americans back at work together as one american family. larry: wow. you know, i -- that is heavy stuff. i loved what tim scott did. i agree with senator scott, i think by the way that data expef expand evidence supports his view. that was a great moment probably no one will really
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talk about it liberal meadial hate it, kudos to tim scott for say that closest thing i saw to a comprehensive economic growth plan from vivek ramaswamy. >> we need to deliver economic growth in this country. unlock american energy. drill. frack. burn coals, embrace nuclear energy, put people back to work by no longer paying them more money to stay home, stabilize the u.s. dollar, and rescind majority of the unconstitutional federal regulations that are hampering our economy. larry: that was well said and well packaged in a night brief moment, good for vivek, i don't think that others disagreed with him, he put it together in a strong, hard-hitting fashion. debates don't decide primaries, polls don't.
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only voters decide primaries, and nobody has voted yet, we're early in the nominating process, all right. frankly, i don't think that last night's debate changed the fact that former president trump has a very strong hold on the republican party. and that is my riff. that is my view. so, my brief thoughts but talk about it more. with our expert experts, they are not in california. i'm very lonely. i'll get over it. mark simone, wor radio show host. and john carney, breitbart economics. and joe concha, columnist at the messenger, fox news contributor. and his book, "come on man."
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i love that. all right mark, you heard my thoughts. what did i miss, am i wrong, did last night change anything? or are there hiccups or what? >> i'm not as positive as you are about last night, you gave them the perfect setting, magnificent reagan library with fox business network, most classy network. and they were yelling and screaming and interrupting and jumping up up and down like bad game show contestants, nobody moved the needle last night, in anyone benefited maybe vivek ramaswamy because they kept hitting him, maki make it seem he was the front-runner, chris christie has to drop that thing about trump say coward. we have watched what donald trump has gone through in the last through months --
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few months, no one think he's is a coward. larry: nikki haley had good points, but she las a school marmish way of slapping down, she did it to vivek and a couple others. i don't know where that is coming from, i don't think that helped her. i think last night, probably hurt her position. >> she has a mine streak -- mean streak in her, she getting a great job from donald trump, then leaves and writes a book calling him a racist. the next thing you know she is his friend, down trust her -- i don't trust her, the fact that vivek is using tiktok on not most outrageous thing in the world, he has a point it is a great way to com communicate, there may be things wrong with him, but dumb is not one of them. larry: joe concha weigh in on how the saw the debate. >> doesn't change anything,
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i'm in agreement there last night's debate felt like watching playing game to make it in ncaa tournament. without donald trump there and we're more than 3 months from iowa, there is a feeling of inevitability. two polls came out this week, first one has trump up by 10 over biden, second from messenger with trump up by 5, and we're seeing trump is now favors to beat biden in general according to real clear politics betting average, the trend is real, to your point, how do they stand out and draw contrast with donald trump, they agree with him on almost every issue on the economy how to lower inflation, and secure u.s. southern border, get power back to parents in education and make people feel safer. there is no real contrast, and trump's base is so loyal, you can't use argument he is not electable
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and i am, how do you make inroads at-this-point. larry: they are great points, they're go the common sense points, john carney. after the first debate, you wrote a great piece saying inflation was number one issue, but the republican did not talk about inflation, then you followed up with a f piece about the economy, how many times did you hear inflation or the economy? john, did they get to the meat and potatoes of why bidenomics is a total failure. >> they did a little better this time. than last time. it came up, part was stuart varney began with the economy. focus on something important. the candidates did an okay jojob, a couple of times. but they really should have driven home the point on
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inflation a lot more, there are so many issues that tie box to inflation -- ties back to inflation, i was reading ronald reagan from 1980, he explained to people very well, that inrates were so high because inflation was so high, housing was unaffordable because interest rates were so high, important points to draw the connection to voters, do you know why you can't afford a house? because interest rates are so high, do you know why interest rates are so high? because biden's inflation drove them so high, a point that a republican candidate could make, i did not her hear any of them make that point, you said, vivek ramaswamy did a good job of drawing together the plans but no one else did. larry: i agree with you, listening on your critique,
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i don't think they got to the kitchen table to the worrisome nature. the pocketbook issues, prices are rising faster than wages, that is what the uaw strike is about. that is a generic problem across the board, that is why joe biden has whatever 25% approval rating on the economy. because people are getting killed. and gasoline and food and the rest, i just, they didn't get there, there were snippets. you know, vivek put it together good. but i also, you know, mark simone, i want a full blast, full bore bidenomics is big government socialism to use newt gingrich's phrase of a year ago, newt will be on the show a little bit later, a full-floated support of free enterprise economic capitalist, go for it, that
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is why democrats are socialists, we want to know that republicans are will stay on the capitalism path because that is about what will restore growth, i didn't hear. i would like to pound it. i don't know, maybe i'm asking too much. >> you are not, you -- this is what you want in a debate, you looking for a big plan, you need someone big to do that. donald trump said, he didn't see a president up there. they are not big enough presidential enough and frankly they are a collection of good middle managers, not a ceo in the bunch yet. larry: the commander in chief -- >> larry, my favorite line of the night didn't come from the debate stage, it was donald trump saying that in his administration the gas engine will be legal and transgender surgery will be banned. this was a great line it brought together the economic issues facic the
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facing the country and cultural issues. that is why he is frontrunner. larry: you are right, he does it in a way nobody else does, like the cnn debate he said drill, baby, drill. joe concha, i like my debaters to really debate like oxford union in england or something, i like them to slam, bang, to really slaughter joe biden. take no prisoners. call him every name in the book. show this and show that. that is what is missing. there is like this, like your book, the title three lines how bad biden is, that is -- they should have used the title of your book. >> go ahead. barborrowing from ronald reagan.
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i fought his line against -- thought his line against carter was better when me said are you better off when you were 4 years ago, america are you better off than you were 2 1/2 years ago, a overwhelming majority would say no, and then question do you think that joe biden will get better or worse with age into a second term, almost all will say no, ask those two questions that is an easy choice to make. >> it is. all right. well, life goes on. primaries, polls -- the first primary -- very first voting in iowa in 4 months, joe c concha thank you, mark simone thank y you. and john carney thank you. >> we'll have more thoughts on the story from great congressman d byron donalds and the oversight committee is meeting. we'll had byron that stuff
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larry: all right, welcome back. i'm out here in simi valley. joining me now my favorite florida congressman, byron donalds, maybe by favorite. welcome back. let me get you have quick thoughts on last night's g.o.p. debate. >> my initial thought, nobody broke through. they are all good people, i believe they all want the best thing, but the leader in the clubhouse remains donald trump. i called him last night after the debate and congratulated him, i said, sir, you won the debate. no one got enough traction. until that changes i'll see everyone in iowa. larry: that was my riff. you and i are on the same page, trump loves you, he
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thinks you are the cat's meow. talking about today's impeachment hearing, new evidence, money laundering, text-messages bank records what can you tell us about what popped up. >> today we had organized on focus on information in congress, craziest thing is democrats didn't want to talk about evidence that we brought, they wanted to talk about everything else, that means they know this is really bad for joe biden. we believe we laid the foundation for going to get bank records and other financial information to now track the flow of money from the businesses to hunter biden and through hunter biden to family members of the biden family, in my view including joe biden himself. that is where going with this, if that where evidence
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leads us you have what you need are in grounds for article of impeachment. larry: one of the piece of the evidence coming out, bank records that were sent to joe biden's home in wilmington, delaware, when it was supposed to go to hunter biden but hunter biden was in the west coast in l.a., they sent it to joe biden's home. to me that sounds indicting, but i don't know is that a big deal? >> it is a big deal. larry, i'm 44 years old, i love my mom, if i had a wire payment coming in, it would not going to her in brooklyn, new york, i don't live there, that makes no sense to me, that is what is bringing up the issues, this stuff does not add up, we'll continue to do our work not like nancy pelosi and democrats not just rush to judgment. the evidence will dictate this, impeachment is so serious for our country that we have to make sure we have this completely right with all of the facts on the
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table. larry: 100% agree, byron. there is other stuff that has come out two more senior irs agents came out last week, they backed up earlier wiwhistleblower irs agents regarding justice department interference and other tax matters. and in "wall street journal" i'm reading, the woman who testified at your committee who used be to in justice department for tax policy said that hunter biden may be liable for all of the back taxes he did not pay and statute of limitations will not apply. >> listen, i think she is correct, here is a question for the president. why don't you care about your son paying his fair share, you are always talking about everyone else, he should pay his fair share as well and the fines and interest, this is how
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hypocritical this family is. because they will lecture everyone else about taxes mean while they knew that hunter biden was skipping out on the tack man -- taxman they didn't care. larry: it may catch up to them, that story is not over, foreign agent registration story is not offer either, that will probably tie together with top joe, there may be an important vote tomorrow on funding bill. we had speaker kevin mccarthy on the show last night, i thought it was interesting he is tying border security with the funding bill, he spoke out on the catastrophe on the border. do you support that approach during reckon a vote will pass or are we facing a shut down. >> i do support the approach, at the end of the day the southern border must be secured, we have not continue to fund a jackson
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-- government that will will not do its primary job, if we have a resolution where you are cutting spending in a meaningful way and securing our southern border, i could vote for that. what is the senate at prerogative, give 6 million to ukraine, that say joke, what is the white house promos alomar money out of the -- proposal, more money out of the door, not worried about the anon inflation, house republicans are those with a solution, i support them, we're still going to go through the process of passing appropriation bills here in the house, we have to klein clean up the rot that is in our forward agencies. larry: regular order, regular budget order 12 appropriation bills, you talk to me about need for
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transparency, the taxpayers can see what is going on. no big omnibus bill. so, you can get a cr, vote is tomorrow, 30 or 45 days that gives you time for the appropriation and includes board of securiti measure, can a cr pass. >> honestly we'll see, i would not support 45 days, that is too long. 30 days is longest i will go, one thing that i been this town, you have to hold their feet to the fire to get stuff done, i think that 30 days will be enough, we have a ton of work to do we're just getting started. larry: all right, congressman byron donalds thank ythank you always. >> americans want to cut spending. did we hear that last night? not sure there was enough of that. newt gingrich has written a strong op-ed piece about this, then we'll ask
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mr. wonderful, kevin o'leary if last night's debate was bullish or bearish for the stock market. how did tying those looseneds together, all that when kudlow returning from simi valley at the reagan library.
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larry: all right, fiscal battles in washington, amidst debates americans want to cut spending, that according to newt gingrich in a op-ed piece, we ask real story of the republican revolution, more speaker, newt gingrich, first, your op-ed was great about cutting spending, did we get enough of that in debate last night, and i want to ask, i carried the idea of
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big government socialism, you unveiled i don't know two years ago, plus, i wanted too hear a full-flothroat e ed attack, you are started about these than i am what to you think. >> no, i had the same feeling. to be honest, i thought that trump's speech in michigan was more important than the entire debate. because he had big ideas, he outlined a case, he made it in a convincing way. i think that part of our problem right now is that everyone floats on the headlines and they don't dig down into what is really needs to be done. we should have had last night, a talk about affordability, which is really what the average person experiences inflation has and a take about economic growth. which is only way you can save social security and
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medicare, talk about about shrinking the government. someone on the stage should have attacked this senate deal, i think that is terrible. for a continuing resolution that spends 6 billion on ukraine. zero on controlling the border, and does not cut a penny. that is a total sell out. i think that the american people as you know from my article, we run a project called america's new majority project, people can find. in the web site, our data, we do every two weeks national poll, it is very -- 71% of country wants to cut spending to bring down inflation and balance the think about. the country over 55% is willing to have a government shut down if that is what it takes to cut and ending, the gap between the american people and the washington elites, may be as big as it has ever been in my lifetime. larry: you know, newt,
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regards last night's debate, to your points, you would hear snippets of it but not a full-throated argument to restore free enterprise capitalism which is the engine of 4, 5 or 6% growth that would help solve the entitlement and reduce debt burden and whatnot. i kept waiting, really slam, you know bidenomics delivers to be slammed. i didn't hear that, it was there. newt, but it was not full. they were too busy taking pot shots at each other. i don't know, i don't think it changed a thing. >> well, in my mind, i watched both debates, our conclusion after last night was basically that is over.
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now body will break out, nobody will be particularly aggressive. i think that desantis has a great story in florida. i think tim scott is a wonderful u.s. senator. i think that nikki haley has a lot of good things to say. but you back out of, that you look at it, none of them will over take trump, trump will be the nominee. and i actually think this should be last debate just let's go on accept the fact that trump will be the nominee and figure out how do we meet biden and win -- beat biden and win senate and increase the majority in the house, i think wastes next 6 months dancing around makes no sense, hun hundred of them can -- 91 of them can breakthrough, if they are not prepared to look american people in eye and say, here is how sick of system is, here is what has to be done to fix it, if we fix it here is how your pay goes up, your future is
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better and help safe social security and medicare, we'll be stronger than china. if they can't do that, then the back and forth looking like 7th graders in a bad play does not help anyone it is demeaning. >> you know, newt, 100%. i wanted to hear more reagan, full-throat reagan. >> you know, you i worked with reagan, you did in white house diaz a i did, as a member of congress, you never heard reagan try to be someone's else. i want reagan's ideas, we stood on reagan's shoulder on the contract that something that reagan of for. that generation -- this generation needs its own new version of leadership, which is what trump has been giving it, and this generation needs to c
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to come to grips with the fact that the world as changed. if reagan were alive, and running he would have same core philosophy but applying it in a very different world. you look at flash mobs in philadelphia and fentanyl killing more people than vietnam war and borders that are a i think a deliberate disaster, an article, a town of 75 thousand made up in of illegal immigrants outside of houston. this stuff is nuts. and someone needs to be prepared to say, this is crazy. and this is how we'll fix it. larry: yeah. i agree, well said, newt. we could talk to you forever, but have i to jump out, ever so much, appreciate it. >> up next, joining us my pal kevin o'leary. shark tank investor, and author of cold hard truth on business, money and life. so kevin, astute investor
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that you are, watching the republican debate did you buy to knows and tons of stocks --tons of stocks or sell stocks. >> i am a policy guy, i look for policy, that is what i care about, that is how i invest, you never make money in politics, you make money on policy. i didn't get any policy i'm disappointed, i understand why. i don't think that anyone scored any killer punches in this. i'm not sure polls advanced for anyone, i thought nikki haley had some interesting moments, but does this translate to into kind of delta in her polls? i don't know, i think you know, unless something happens over the next two debates, i think they will keep going. it will get difficult, basically, running out of time. january is not that far. and we don't have any momentum anywhere. there is no -- everyone is a
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critic of the next morning after a debate. wow do we need some policy, like throw me a bone on policy, give me somet something gnaw on, i got nothing, wow. i have to -- to -- it got borin. larry: it did, you have to committee new york, and sit with me on the set, so you can talk policy with me. >> i am in new york, where yare you. larry: i am in seem simi valley, california, we're fly back tonight, we'll get together and talk polipolicy. i agree. we're close to 100 dollars a barrel oil. okay? the long-term interest rates have been rising. the 10 year went through 460, yesterday i don't know
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if it is holding today. interest rates up, stocks down. what do you think here about stocks and the economy and interest rates and oil prices? >> let's deal with oil, two sectors of the economy that affect all 11, that is financial services and energy. let's deal with oil at a hundred bucks or north. this is where you get concern that it is changes input costs for all sectors. every sector that makes product or services needs energy. some more than others, even pharmaceuticals need oil as input cost goes up it inflates the cost of making the goods and services that makes inflation sticky, that is the long-term problem, short-term, any politician dealing with $4 gasoline a gallon is going to have a hard time, that is the trigger point, when voters go to pump see the price and get for lack -- i can't say, they get unhappy.
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that is -- basically bread and energy, if you play a lot for protein and food and your gas prices are high, ieveryone wants to spin this out of inflation numbers it's not core, it is core, everyone fills up their tank, they get really mad it will happen in next 90 days. larry: oil prices permeate the entire economy there are like 300 different sectors that refined petroleum products affect that includes food and all that, you can't overlook, that economists are so wrong on that, you are worried about it? >> i am, i was in dc yesterday banging the drum down the halls of the hill, i do it almost every month now talking to any senator, congressman or woman what will talk to me, say we're not doing to self this until we produce 18
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million barrels a day, it is simple math, let's talk about what we'll do to fix this. because it is the core of prosperity. and everyone gets it. it is not that hard to sell, i don't care if you are a democrat or a republican, they get the joke. and i keep saying, you guys write the policy, now right the policy. let's get this thing going, and i have a hidden agenda, let me build my refineries and get going in north dakota and texas, i will bring you new stuff that works. give my a permit, let me go, i'm just one guy, set me free. larry: liberate, it is common sense, the whole country knows this, honest to god out side of the administration and democratic party, 30 seconds, market interest rates are rising? bond is up to 4.60 and
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something will it go to 5? what is the economic impact. >> simply, rates look sticky, they are be higher longer and idea that fed will drop them, i don't think they, we have 50 bases points more, stocking can't move higher with this real trade in a range, you make 5.25% on your cash that pretty good, i have a lot of cash making good interest while i wait the fed, everyone else. larry: y thank you, kevin o'leary speaking good common sense. >> thank you, larry. larry: all right, my last question about the debate. where was t tax talk? we'll talk with grover norquist, president of americans for tax reform when kudlow returns.
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release works with your body, not against it, so you can put dieting behind you and go live your life. head to golo.com now to join the over 2 million people who have found the right way to lose weight and get healthier with golo. larry: so republicans on oh, occasion talked about a growing economy last night in spirit of ronald reagan, what about cutting taxes?
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joining me now, grover norquist, president of americans for tax reform, welcome back, we had a tiny taste of tax talk. here is nikki haley with as much as i could find. >> let's focus on going after middle america and cutting tacts for middle america and collapses the brackets get rid of unfair distortions like state and local tax they give to health i people in blue states and not and paid by rred states and make the small business taxes permanent. they made them temporary. let's focus on about what it takes to get more cash in the pockets of workers. larry: all right. so grover, you know it was kind of there. not exact pl plly there. you are the expert. what do you think? >> well, since the republicans have an
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advantage on the economy, of 21% margin, greater than just about anything else, the republicans should have only talked about tax cuts and economy growth and deregulation, it should have been their go-to position biden is proud of bidenomics, that is taxing things you want to do, banning things you want to have and s subsidizing things you don't care about, that is bidenomics, they put new taxes on life staving drugs and on energy. these taxes need to go away. the ones on energy. we need too take the corporate raise the down to 14%, and reason why 14% is important is europeans' to say, no one should go less than 15%. we're not letting europeans tell us what our tax rate should be, he started
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shooting at them last time they did that in 1776, we set our own tax rates we should competeo low tax rates not low waged. larry: the whole personal tax rate, system, top rate still 37, you have 5 brackets, should we just have a clean up slam the rates down reagan-style, consolidate the rates that supply side reform? i am not hearing that, not any of that. >> here is what you are hearing it in the states. 12 states have a flat rate income tax, 7 are zero. 19 states that have a single rate tax. people like the flat rate, they trust it they think it is fair. the argument that we should be concerned about taking it nationally look, people are -- there is another 12 states moving to zero.
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so, the idea of takes individual rate down to top end rate down to a single rate tax, and moving that down, that is very popular state by state. i think that people would find it popular nationally. larry: you are right, all missed opportunities, last night, all of them missed. grover, one of your articles, you are challenging desantis about taxes. i am sure he is for lower taxes but he let the corporate tax in florida go up. he had a chance to keep it down. but, he didn't take that. and it went to 5% at one point it was the low as 3.5. the corporate tax is important. >> it is. it needs to come down, desantis shares an adviser wit romney, he is having similar success with it the thing he put out we should money -- maintain our
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low rates, i don't think that american people view our press sent tax rates higher, we have high tax rates that need to come down that need to be front and center by every one of our candidates, taking taxes off of the take table is one way to lose president seize. >> are right. what the states are doing you are right. missed opportunity on this last night. absolutely grover norquist thank you. >> wild get there. larry: i'll be -- we'll get there. larry: i'll be right back with my last word. my relationship with my credit cards wasn't good. i got into debt in college, and no matter how much i paid, it followed me everywhere. the high interest... i felt trapped. debt! debt! debt! debt! so i broke up with my credit card debt and consolidated it into a low rate personal loan from sofi. i finally feel like a grown-up.
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larry: that's it for kudlow, thanks for watching, folks. -huh! ♪ bad boys -what did i do? -turn around. -♪ whatcha gonna do -get on the ground! -♪ when sheriff john brown come for you? ♪ -i don't understand why i'm being arrested right now! -♪ bad boys, bad boys, whatcha gonna do ♪ -calm down. -i'm calm! -♪ bad boys, bad boys whatcha gonna do ♪

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