tv Kudlow FOX Business March 22, 2024 4:00pm-5:00pm EDT
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those products than their historic marlboro brand. liz: paul, you say no one should be investing new money in the stock market. where, 30 seconds, should they invest in. >> you know, your grandmother told grow when you were a little kid, you know, buy low, sell high. you're buying in high, and right now the best place you can be is short-term treasuries pay 4 and 5% and gold. the smart money around the world is highly into gold because they are -- [inaudible] [inaudible] liz: gotcha. paul dietrich, jack oliver, great to see you. markets close higher for the week. the nasdaq sets a fifth record close for the year. have a great weekend. ♪ larry: hello, folk, welcome to "kudlow," i'm larry kudlow. former president trump faces a monday deadline to post a nearly half billion dollar bond in the
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new york fraud case. does he have the eighth amendment up his sleeve? we're going to ask jonathan turley about that in just a couple moments. and then our all-tar panel of charlie hurt, katie pavlich and roman will weigh in on all of it. plus from, janing yellen dead wrong again, this time about raising corporate taxes. kevin has especially is going the take her to the wood smelt. also senator eric smid, senator tommy tuberville wants to stop china a from buying up u.s. farmland, i couldn't agree more. let's get the latestest on the trump civil fraud case ahead of monday's bond deadline. lydia hu is here with more. lydia, the clock is ticking, the 24-second shot clock is almost down to the end. what's he going to do? >> reporter: just one weekend away from that monday deadline, and the former president has to post that appeal bond for nearly half a billion dollars to protect his assets from new york attorney general letitia james. you remember previously trump and his lawyers told the court
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that they couldn't get the money. they asked the bond be reduced waived entirely. we've not yet order from the court on that request yet, but today trump posted this on truth social, quote: through hard work, talent and luck i currently have almost $500 million in cash. a substantial amount of which i intended to use in my campaign for president. now, some now believe, the experts that i've conferred with, that the court would not want to grant a in the bond though it's still possible that behind the scenes trump's lawyers and the attorney general's office could come up with some type of agreement. but if trump misses this deadline on monday for the appeal if bond, the attorney epogen can immediately begin moving forward with efforts to seize his assets. his bank accounts become are vulnerable ifing liens can be field on his reallies. the attorney general could pursue foreclosure in the future the you would expect objections
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and court hearings would surely slow that process down, experts say. each though he would not lose any if real estate immediately, some say that trump's ability to do business would be greatly restricted. he wouldn't be able to take out loans and get new capital. and with his bank accounts frozen, he'd be slow to transact business overall. now, he says he wants to use that cash for the dam pain but, larry -- campaign, but it seems like there's growing pressure to post that bond. back to you. larry: lydia hu, thank you very much. we appreciate it. let's get right on it. for more, let's bring in the great jonathan turley, george washington with university law professor and constitutional expert, fox news contributor. so, or jonathan, give me your off the top of your head, where do you think this stands? i mean, in basketball terms this is march madness. the 24-second clock is winding down, if that's what college has. he's down, i think he's close to 5 seconds, and the ball is still outside the 3-point shooting line. so what do you reck.
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en happens next, right now? >> well, it's hard to gauge because of that posting by the former president. that's going to take some is pressure off of the court of appeals because they're going to be aware that a he's saying that he may have the cash. and so it'll be interesting how that dynamic plays out with the court. this is a lot of money to be able to get his hands on even for someone who's a billionaire. the question still remains for the court of appeals the underlying decision and possibly this bondish e shoe. in -- bond issue. in my view the penalty that was handed down is absurd. i mean, i don't know anyone that can make sense out of the figure that this judge came up with. he might as well have just said a trillion dollars. and by making it a big number, he made it likely that trump would have to sell some of his real estate. because you can't use real estate to float a bond of this size. now, that may have been avoided, but i think that all of the
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drama going up to the appellate review has got to help trump to some egg tent. i think that even -- texts. i think that even people that do not like trump did not like what they are seeing here. there are very few people that could come up with this amount of cash in this short of time. and if he hasn't, and maybe he still won't, it could put his appeal in danger. so the judge could set a figure so high that unless he sold the property he's trying to protect, he can't get anyone to review the decision. finish. larry: yes. well, a famous lawyer i know called it mob if justice. i don't want to name any names, but a very famous lawyer who appears on tv quite frequently. [laughter] jonathan, do you think that mr. trump's attorneys have already filed an appeal to the new york appellate court? if. >> well, they've started that process. this is going to move up there. essentially, the trial court just issued another condition of
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pfsed release -- not supervised release, but supervision for three years. what was interesting about the court's decision is that should have been the full extent of the overall decision. that is, if he still believed that in this victimless crime where no one lost a dime that you couldn't trust the corporation, you could have just kept the corporation under this type of monitoring. you didn't have to impose a dollar, let alone a half billion dollars' worth of penalty on this defendant. and so it just begs the question again of, well, why hit him with this unprecedented penalty? larry: no, absolutely. it seems crazy. he's got to give up everything he owns just in order to appeal. sounds very un-american. jonathan, a technical question. if -- worst case for trump or worst case for whatever, if a.g. letitia james seizes a property, now, there's been stories in the papered today, new york post and elsewhere, that she's got her
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eye on mr. trump's to golf club in westchester county. if she seizes a property, jonathan turley, can she sell the property, just sell it off right away? >> it's not that easy, and i think that james is going to find out this is far more complex than suggesting to new yorkers. i mean, james hasn't built anything but her career in her life are. i mean, this is complex finances. larry: right. >> and most of these properties are partnerships, they have he are range debt. all of that -- leverage debt. all of that has to be unraveled. so these aren't just this, you knowing, one to one trump versus james type of equation. so in order to seize that property, she's going to be pulled into court, there's going to be challenges. st not going to happen overnight. everyone is celebrating this idea that she's going to padlock trump tower. it's not likely to happen, and it's certainly not likely to remain very long. the other thing is that she could be harming the value of
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the property that she's trying to seize with some of these actions. i don't think that matters to her, but it might matter to a court. larry: yeah. well, it might matter to anybody else that that's been in business or commerce, but that's a separate segment. jonathan, the eighth amendment -- as though i have to tell you, but i'm not the lawyet reads: excessive bail shall not be required nor excess if i fines imposed nor cruel and unusual punishment inflicted. you may recall about a month ago at the laura ingraham fox town hall with are from r mr. trump, he pulled a piece of patient out of his suit coat and read the eighth amendment. i think it was about a month ago or so. i must confess i've been texting him about the eighth amendment, and he sent me back this article from an outlet called the los angeles daily news written by a woman named susan shelley. anyone, the story was ruth bader ginsburg -- you may know this,
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maybe you teach -- ruth bader ginsburg used the eighth amendment to stop a much smaller case in indiana, samuel alito assisted her. and she said that the eighth amendment goes all the way back to the magna carta, which i just love because i use that as a throwaway in one of these segments the over day. that was 1250 a. d., and i know she was right because i was there. [laughter] yes. >> yes, and we're so grateful for your contribution -- [laughter] i do think, look, there is an issue here of the eighth amendment. of there's also an issue of due process. in addition to that line of cases,es which is rather thin, so this is going to be new ground for the courts to deal with. so this is sort of unsettled. but there's also the due process question. the court -- the supreme court has on rare occasion stepped
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into state cases and said this is such a sort of over the top damage figure that it violates due process. now, one of those cases involving b america w involve -- bmw involved punitive damage can where the range scale was over 1-10 by a considerable margin, well over what they usually deal with. and the court said, look, when it gets to be that large, there's due process questions. new york is unique, i think, in this case because they have made even the bond confiscatory. larry: right. >> so it's not just the damages, but the bond rule that seem to be punitive. and it's certainly the use by james and this judge. so those are going to be viable challenges, and it could go all the way to the supreme court. larry: yeah. one last one, or jonathan, because just before the show we bumped into shannon bream up on the 20th floor, and i was asking her about this. she, you know, legal analyst herself and she covers the
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supreme court -- >> very good lawyer. larry: yeah. very good one. anyway, the point is id asked her what's -- has trump already appealed to the supremes on the eighth amendment grounds, and she said, probably he would wait until it runs through the apoem late court appeals -- appellate court appeals in new york before he goes to the supremeses. does that sound right to you, or might he be already appealing to the supremes on eighth amendment grounds? >> i think he'd be wise go through the appellate court -- larry: right. >> this is not like jumping a trial court in the federal system or an appellate court. the state system has the primary role here. just one judge has reviewed this law and made this, in my view, absurd ruling and imposed this penalty. if -- i think be wise. he has to have these new york judges take a look at this. and, hopefully, they will redeem the new york legal system by saying it's not about trump,
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it's about us, and this is way over the top. march yes, sir. great stuff. the great jonathan turley. thank you ever so much. we appreciate it. as always. >> thanking or larry. larry: let's chew on this a little bit more maybe from a political angle. charlie hurt, fox news contributor, and katie pavlich, editor at townhall.com and fox news contributor, and if that weren't spiffy enough, we have roman yes ravi, former white house deputy strategic comms director and ceo of daravi strategies who pulled me out of a lot of hot water way back when. [laughter] let me start with katie. where do you -- not legally, but politically what does all this spell? >> well, i think about the normal person watching this, you know, someone who grew up in a very small business, wasn't the trump business so to speak, but you think about the way the government officials operate and the way they treat the people in this country who build things, who provide jobs, who go to work every day, people who sign the fronts of checks, not just the backs of checks that are simply
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made with taxpayer dollars and taken away from industry and production, and letitia james is the worst example of that. when she talks about con first if candidating these properties, they're not just properties, they're businesses with people in them that operate. there are hundreds -- larry: that is a great point. >> -- employees who now what position are they going to be in? they going to lose their jobs? for bureaucrats like her, they are fine with that. those are the eggs that have to be scrambled for them to get to their political goal. larry: you know what? if that's such a wonderful point i'm just thinking, take the golf club, okay? all kinds of people, and i'm going to call them middle class people, work on the grounds, the clubhouse, the kitchen, the greens, the lawn ares, every bloody thing. they make decent salaries, quote-unquote, they work their tails off, and she could be shutting them down and their families down and their kids -- >> i worked at a golf club as a summer job in high school before college.
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i mean, there's plenty of people like that. larry: yeah. and, charlie, you know, trump's pulling this -- what jonathan turley e said was very interesting. this has a ways to go. actually, i probably am wrong in my metaphor about the 24-second clock and you gotta shoot. is it in college basketball, is it 24 seconds? >> you're asking the wrong person. larry: i'm sorry. [laughter] well, somebody -- >> i was always picked last. larry: one of my producers can google it up. 24 seconds -- >> it is march madness. [laughter] >> the point is, he may have more tame than we think and more appeals than we know about. >> well, certainly if he's going to wait and let her try to begin the proceedings of seizing a property. and and i think katie's exactly right. the look is terrible. and you know, letitia james is going along with this crackpot judge, they're going to single-handedly get donald trump reelected on this nonsense. larry: no, that's -- >> and i hope that, you know, since she campaigned on the
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whole premise that she was going to go after donald trump and she was going to get hem, i hope voters remember that when she actually gets him reelected because she threw the lute the window and decided to go after him and go after the rule of law and and everybody, every law-abiding person in new york with all this nonsense. you know, bernie madoff fleeced thousands of people out of tens of billions of dollars, and he a had a $10 million bond. and you've got this, what is this, i'm not -- i can't do math. larry: $450 million. >> 50 times. larry: actually, with the service charges, if you actually got a surety bond from a commercial insurance company with all their costs and additional interest cost, it'd probably be about $550 million which is an incredible number. >> donald trump -- larry: over half a billion dollars. >> donald trump fleeced no one. everybody made money on the deal. >> unbelievable. >> everybody wanted to do more business with him after -- larry: the only people not happy
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is letitia james and this big, bad judge. roman, you know trump, you worked with trump. here's what i find very interesting. look at him go with this, with this. and, of course, he's if the the other cases in washington and palm beach, and he's got this fani willis nonsense. she may only have a half shelf life left down in georgia, but that's another trial, right? [laughter] and, yes, and yet he is campaigning, he's making speeches. you just want to push that guy over the line in ohio. his hand-picked candidate whose name i have forgotten for the senate, he's just doing great. how does he do this? if how does he do this? >> he is -- larry: if i had $500 million, i wouldn't sleep that well. >> larry, you know our former boss is like the energizer bunny, and nothing is going to keep him away from the american people. not any court case, not any amount of money that they pull away from him and his businesses, no attacks on his family including his e son now,
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baer with ron, is being attacked by people from nbc and -- larry: what'd they say about barron? >> that he's fair game now that he's 18. the point is nothing is going to keep donald trump from going after of what america deserves. in this country they've been left with joe biden for three and a half years, we're absolutely dismantled. the government is not functioning. not only is america under attack politically, but our allies are under attack globally. so i would just point to, you know, specifically this case in new york. they're going after trump tower for two reasons. number one, it is a huge skylin- larry: iconic. it's an iconic building. >> number two, and no one is talking about this, that was the headquarters for us back in 2016. larry: oh, that's right. >> i sat in trump tower, we worked day in and day out to fight to get into the white house -- larry: i had arguments with him in trump tower -- [laughter] >> i'm sure you did.
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you're a great adviser. >> on the size and components of the tax bill. we had the early meetings with stier moore and mnuchin and steve miller and the boss with -- >> yep with. and jared was there. larry: yeah or, yeah, oh, my god. >> it wasn't just taxes, it was tariffs too. >> and -- are on his side. i think that's helping. larry: that's another good -- we've got to get out of this. y'all are coming back for the next segment anyway, but the fact is this fortuitously, the blank check spac investment company is going to come through. they issued the stock today, i believe. >> truth social is doing very well. larry: so however well it's doing, the stock is doing great. people are rallying to his cause it's worth between $3-4 billion. now, there's an issue here and you may not be able to collateralize it. he can't take the cash off the table for six months unless they change the covenants in the deal. but that's a little -- i almost,
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i didn't want to forget that. all of a sudden he's sitting on a pile of even more cash. >> translator: and the week that they're trying to bankrupt him, he makes $3 billion -- [laughter] >> the irony. [laughter] my kind of guy. larry: my kind of guy. remember, charlie, used to work on wall street. i know all about them. somehow the money just materializes, you know what i mean? it's like, build and they will come. [laughter] all right. we're going to take a quick -- $3-4 billion for that truth social. charlie hurt, katie pavlich are, roma daravi, we've got a lot more to do right after this. and this is this a big story. the incredible texas invasion by illegal migrants, okay? does anybody watching these clips -- we're going to show is it again, there it is on the full screen -- will send a chilling signal. there is no safety, security, law and order left in the united states of america. and who do you think's going to
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think it should send a chilling signal throughout america and every household and family that there is no safety or or security left. back with us, charlie hurt, katie pavlich and roma da avenue ve is. put up on the full screen, as though no one's seen it. this picture has been flashing for the last 48 hours if not more. put it up on the full screen. they're going through the razor wire. charlie has corrected me. anyway, it's a very scare thing. the guards, the national guards are having trouble with it. let's hear what press secretary karine jean-pierre has to say about this one. >> everyone was apprehended by the border patrol agents. that is important to note. they were apprehended -- >> reporter: were they deported? >> i can't speak to individual cases. that's not something i can do from here. the reason why you're talking about the texas national guard, they were there because of the governor of texas. the governor of texas put the texas national guard there.
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we didn't put them there, he put them there. larry: right -- [laughter] and it's a good thing. >> thank god he did. larry: i mean, it's a damn good thing he put them there. but charlie, i mean, this story, i mean, there they go again. so the white house will not own this or, you know, and take any blame. but the bigger picture, it just seems to me, people watching this, you know, trump called it the migrant crime wave, okay? and i think that is resounding. anybody watching those pictures no matter where you live are, this is not just down in south texas, this is throughout the country in the big cities and the suburbs. you've got, essentially, criminals. there are illegal immigrants, many of whom are criminals. these are males, the bulk of them, able-bodied males who are fighting through. i mean, this sends a chill down everyone's spine, i think. >> and there's no other description for it except an invasion. it's doorly an invasion is. and these are people, as you
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point out, many of them are military-age, grown men. and the first act that they commit with setting foot in the united states is to break our laws. and then people are going to be surprised that we have lawlessness? and, of course, karine jean-pierre is -- i never really have any idea what the heck talking about. but especially right there, i have no idea. of course they may have been detained. and then if the same happened to them as has happened to at least a million to others, they were then ushered into the country because they don't, they absolutely do not care about issue. and the number of people -- this is not just an issue that affects republicans. it affects democrats -- larry: oh, yeah. >> -- and it affects minorities. and specifically, it affects hispanic voters. >> right. >> and donald trump is winning over african-american voters and winning over hispanic voters on this issue. larry: and, katie, can i add a suburban women the that? >> yeah. larry: because if they're looking at these pictures and
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seeing the same thing. and the suburbs aren't that far from the sanctuary cities. >> people want law and order. that video shows you that it's a complete disaster. and the details of it are actually very important. so the texas national guard -- which the white house aptly points out is there -- if you'll notice, they're trying to stop these people from coming into this country. they have a fence that's broken down, they're trying to prevent them. karine jean-pierre then says they were apprehended. what does that mean? they were processed through, they were let through the door by border patrol after they broke through the fence texas put up trying to stop them so they can be processed, put into a facility and let go into the country. so while they claim they're doing something good to stop this, they're actually helping the issue further while letting all these people in. so it's not like they pushed them back. the federal government and the white house allowed them to come in, and they're here. they're in your communities. people see them everywhere, and they're a danger to society. we have no idea who these people are. larry: and, roma, it's not like there's no end to it, but here we are maybe not new york
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anymore, but the sanctuary cities in large parts of the country welcome them. and are are are figuring out how to pay for health care, for example, or lodging. or, and here comes my next subject, which is great, this venezuelan -- he's an influencer on twitter? i don't know who he's influencing, but apparently hundreds of thousands of people. he's giving them instructions on squatters' rights. illegals are coming across the border, and they're coming for your house. i don't mean yours, roma. maybe it's yours, i hope it's not. but they're coming for your house. any house that may be vacant for a while. i don't know all the laws. jonathan turley had to leave us. [laughter] the fact remains you have certain squatters' rights. how's that going to play in middle america? >> yeah, it's too bad he's not educate eking his followers on the immigration law are so they would not come here in the first place? this is going to be a real problem. across new york city you're filling vacant hotels with migrants.
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i'm sure letitia james would love to el empty out trump tower and put illegal immigrants ther. >> don't give her any ideas. [laughter] larry: if joe biden loses, he may have squatters' rights at the white house. >> he'll get lost and wander out, larry it'll be fine. of. larry: joke, joke, i'm sorry. he'll wander away. >> but just since joe bind came into the white house, we've -- joe biden came into the white house, we've had over 30 terrorists cross the southern border, 300, and that doesn't include any gotaways. so now you have the democrats, i hate to politicize this, but it's extremely political. it's the number one issue going into november, and democrats are pretending to care about immigration right now when they've done everything but open up the southern border. larry: well, i would say karine jean-pierre wasn't all that convincing in that clip just now. katie pavlich, can we run the lara trump -- lara trump quote about mail-in ballots and the need for the republicans?
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because katie wants in. it's a very important issue. let's just run this as a fast as we can. [laughter] >> we have to have election integrity like we've never if seen before in this country. right? we've got to play the game a little bit differently. we have to encourage people to do things like early voting. we have to get people early voting and then as soon as they go vote, they take people from that day on all the way up until election day to go vote is. larry: and on top of that, a good "wall street journal" editorial about the same topic, op-ed -- we don't have any time left, katie, but this is music to my if ears. i think republicans may finally be waking up with lara trump. >>? >> coupled with her calls for early voting, the rnc has issued lawsuits against michigan and i believe also a wisconsin for voter integrity purposes because of the loose laws they put into place during the 2020 election. but i would just say that democrats are the olympians of voting. they know how to early vote, mail-in vote, get people out to vote. by the time election day rolls around, republicans are down and
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behind by millions of votes and they're just starting the race. you're on the jv team, you've got to train up to the olympian, you got to -- >> the only difference is that olympics don't have dead people playing in them. >> that's true. [laughter] larry: so biden wants $8 billion for 50,000 little climate people from his climate conservation corps, he wants 50,000 people -- this is his idea like the peace corps? this is the climate corps. $8 billion. this is suck ising bucks on a grand saying. that's all that is, charlie, last word. >> it's a boondoggle. larry: you think? i know, heading straight from the harvesting boxes, you can be sure. >> indeed. larry: i can barely talk, i'm just so out of my depth. charlie hurt, katie west virginia limp, roma daravi, my head is killing me. janet janet yellen totally wrong about jacking up corporate taxes, i mean, totally, 1,000% wrong. and kevin hassett's going to
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call her on it. then missouri senator eric scmitt wants to stop government censorship and free speech. that is a noble mission as well. i am a kudlow. we'll be right back. ♪ muck finish z. each planning their future through the chase mobile app. jen x is planning a summer in portugal with some help from j.p. morgan wealth plan. let's go whiskers. jen y is working with a banker to budget for her birthday. you only turn 30 once. and jen z? her credit's golden. hello new apartment. three jens getting ahead with chase. solutions that grow with you. one bank for now. for later. for life. chase. make more of what's yours. my name's dan and i live here in san antonio, texas. i ran my own hvac business and now i'm retired.
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♪ larry: so treasury secretary janet yellen totally wrong about jacking up corporate taxes as well as all the other tax hikes joe biden wants. joining us now is the great kevin hassett, former chair of the councilover economic advisers, distinguished fellow at the hoover institution and author of the most important book of the 21st century, "drift." kevin, we're going to play a quick line from yellen, and thee this line. here it comes. >> well, i believe the tax increase would be, would not really harm the competitiveness of business. most studies that have been done suggested, suggest that there is very little, if any, economic
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benefit from having cut the corporate tax rate. larry: most studies, kevin hassett? what is she talking about? >> you know, i really have no idea. you know, i think i'm giving up clinging to the idea that janet yellen's going to be better as a treasury secretary than ao to c when she says that. it's absolutely a misrepresentation of the literature. and i actually sent your guys some lists of studies that are either the old ones that i wrote with alan and glenn or the new ones that are coming out with professors at princeton and harvard and university of chicago that are showing big positive effects of corporate tax cuts. so i just have no idea what she's talking about. larry: years ago, i want to give you credit, you were roasted by the economics profession though alan ah bach co-authored with you and supports your view and so did glenn hubbard. they're all smart guys.
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now it's pretty much common knowledge. we have a chart, by the way, that shows how revenues went up. we cut the corporate tax back in 2017, and the revenues went up, and they keep going up. that's the unbelievable thing which ms. yellen will not -- and, kevin, i mean, the studies, i think now cbo studies, bipartisan, nonpartisan studies, it was the middle class working folk folks who got the biggest benefit, the biggest percentage increase in wages which was your argument a for over ten years even though you had to fight off the barbarians at the gate. >> right. well, here's the thing that upsets me, larry. and you know me, i usually don't get that angry. [laughter] but the fact is there was no real wage growth for i blue collar workers during the bush and if obama administrations. we had almost 20 years where ordinary working folks didn't see their real wages go up at all. and then we said if you cut the corporate tax rate, then firms will bring the jobs home, and
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that'll bid up the demand for labor and drive up wages. and wages went up. as we said $4,000, hay went up by $can 6,000. so after 20 years of no wage growth, we cut the statutory rate. economic theory says wages should go up, and they did. if you're denying that evidence and willing to reverse the corporate rate reduction, then you really don't care about blue collar workers, about ordinary folks. you just care about a political power. and shame on you, janet yell, for misrepresenting the economic literature the way you did in that congressional hearing. larry: and, in fact, poll after poll shows that working class folks, okay? white, black, brown, doesn't matter. they know they had it better during the trump corporate tax cuts, and they've lost ground with inflation such as it is. real wages are underwater. and now yellen raising -- it's not going to the pass, thankfully. but if they did, they'd be further underwater. >> right. but she was more right when she said inflation was transitory
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than she was about this. [laughter] and last week she apologized for saying that inflation was transitory. and the point though is that it's an economic ideology that's inconsistent9 with science. it's old-fashioned keynesianism which basically is socialism. these are people that want to nationalize things in order to stabilize the economy, and they really don't believe in free enterprise. and you can see it when she's saying let's just jack up ratessen on corporations. you go back and hooking at our corporate rate cuts, they led to more revenue, more growth, more wage growth, everything that we said. and to reverse that is to not really care about the welfare of americans. it's sad is. larry: yeah, no. well said. kevin hassett, the best of the best. thank you ever so much. shifting gears right now, joining us is missouri senator eric. >> michigan mr. smith, welcome back. let's talk about this. you brought the lawsui missouri attorney general. i'm having trouble with my
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sigh -- sigh miss headache today. missouri v. biden, that was yours, i think. the idea is you want to prevent the biden administration or any administration from censoring private speech. freedom of speech. and we wanted you to talk some more about that. you're going to do it through the budget. but this is an extremely important supreme court case which didn't get such a great hearing the other day. >> well, what that a case brought to light, larry, you're right, when i was a.g., i filed it. it brought to lye light this behemoth, this leviathan of government agencies. this wasn't a one-off thing, this was a bunch of government agencies and actors coercing and and colluding with some of the biggest companies in the history of the world, these social media giant, to suppress speech, to take post down. they had special portals, weekly censorship meetings. this thing was sprawling, breathtaking, orwell ya january. so that -- orwellian. that case was argued this past monday at the supreme court. i'm still hopeful the supreme
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court will see is it the same way the lower courts did when they issued these very important rulings previously. my amendment would say we're going to prohibit in the budget any funds going to any agency that's trying to suppress people's first amendment rights and trying to do an end run around the constitution working with private parties, social media company. larry: and, senator, just to go through this, so a lot of this was covid. if the social medias were saying or allowing people to say negative things about covid, closing schools, shutting down businesses, wearing masks, the government would come in and push them around a, effectively censorship. but, senator, it's not only covid. this was hunter biden's laptop. this was the russian hoax stuff that they threw at trump all during his first term. this was -- and even today the cia and the fbi, i mean, you're going to go deep. this will have deep-rooted impact if you can get this thing
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passed. >> we've got to root this kind of thing out. the government doesn't -- the government exists, larry, i think we've got to go back to civics 101. exists to protect our rights, not infringe upon those rights. that plot has been lost by many on the left. and you're right, when i was a.g., we took the deposition of elvis chan, the fbi agent who was prebunking the hunter biden laptop story in 2020, before the election, to these social media giants, and then they suppressed it. the lawsuit, of course, uncovered whether it was the origins of covid, the lab leak theory, efficacy of masks, the vaccine, any dissent that went across or against what the government thought was the approved narrative, they wanted to shut that down. and our first amendment -- and, again, judge jackson -- justice jackson asked this question, well, doesn't this view of the first amendment somehow hamstring the governmentsome yes, of course it does. that's the whole point. the government doesn't get to decide what the truth is. individuals do. who are entitled to have this
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information. and is so my amendment today, if i get a chance to offer it -- chuck schumer's bawl balling at any amendments still -- balking at any amendments at this point in time. but the case, line you said is, larry, the discovery that came out in that case, 20 plus thousand pages documenting e-mails, text messages from some of the highest ranking government officials with these big tech execs to censor speech is shocking. larry: did government try to suppress the hunter biden laptop? >> yes, yes -- larry: 2021, 2022? >> larry, the fbi had the laptop in its possession in november of 2019. elvis chan was having weekly meetings with these social media companies telling them this was a russian hack and leak operation. that was in an after a david from a senior twitter executive. and so of course when the story breaks and miranda devine has a said the shes -- she thinks her e-mails were being monitored, they go to try and prebunk it.
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secretary blinken was gathering all these ex-national security folks to say it was nuts, but we know it's all true now. larry: yep. >> they're scared to death of the contents which, of course, implicate joe biden himself. larry: senator eric schmitt, great work, sir. thank you for coming back. >> anytime, larry. larry: folks, the other side of the break, senator tommy tub orville. he wants to stop chai from from buying up our farmland. another noble cause. i'm kudlow. be right back. ♪ ♪ progressive makes it easy to save with a quick commercial auto quote online. so you can get back to your monster to-do list. -really? -get a quote at progresivecommercial.com. the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future.
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larry: all right. so now the question for the house, why are we letting china buy up our farmland? joining us now is alabama a senator tommy tuberville is. senator tuberville, you're pushing hard. you want some reform, as i understand it, from the agriculture department, from cfius, the committee for foreign investment in the united states. are you being satisfied? i mean, the chinese have this habit, and i'm sure to you know about this, they have this odd habit of buying farmland near our military bases. i'm sure that's just a coincidence, sir is. >> sure, it is, larry. it's a big coincidence. think about this now, 40 million acres of our farmland, 40 million, have been bought up by foreign inti he's.
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it's just not china, it's other people that we don't care too much about. we've got to keep an eye on this. we've got to start regulating to some point, larry are, and i hate regulations. i've got a bill out, number one, that's tracking anybody that's trying to buy any of our farmland. and i've got a bill also that is trying to block anything to do with buying our farmland. so it's something that we've got to be very concerned about. we've got a lot of oh -- other problems as you know of in this country. we've lost our minds especially here in d.c. but we've got to understand that a we can give away our farmland, we're not going to be able to be self-productive in this country. larry: senator tuberville, the blocking part, is that the cfius markets committee on foreign investment, or is there something else that you're using to block the purchase? >> yeah. it's both, a larry. it's both. been on the agriculture committee. you know, we're working with, you know, the ag committee here, we're working with other senators trying to come up with bills to try to do everything we possibly can.
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it's hard to get any bill to run through the ag committee here for some reason, but we need to help our farmers. we need to protect them. we need to give them better prices, reference prices. we need to help them with their crop insurance and, by the way, we're supposed to have a farm bill done this year but, guess what? the democrats don't a want to do it. hay want to wait another year, and that's fine. we take over the senate, get president trump, we'll have a better farm bill and help the farmers are in every area including helping them keep their farmland because right now a lot of them are going out of business. 150,000 farms, larry, have gone out of business in the last 3-4 years. larry: i did not know that. speaking of the committee on foreign investment, cfius, that is run by the treasury, ms. janet yellen. the reason she can't focus on your farmland problem and the chinese communist problem is she's too busy out there trying to raise a taxes on everything; corporations, individuals, capital gains, dividends. you name it, if it moves, she wants to tax it.
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>> larry, by the way, i read your book. "cutting taxes, cutting regulations." it's the best way to have a productive economy. and as you said in your book, the most productive and successful presidents in this country have cut faxes, have have -- taxes, have cut regulation for better and bigger growth. and that's what we have to do. janet yellen, she's way out of her league. she's talked about things more for china and russia than for us. at the end of the day, we're going to take this back over and if try and get some reality back in the united states of america especially when it comes to helping our workers. larry: yes, sir. >> you raise taxes, larry, we're going to put people out of work. larry: i'd have sent you the book for free, senator tuberville, but i'm thrilled that you read it. [laughter] >> great book. larry: thank you, sir. we appreciate it very much. folk folks, i'll be right back with my last word.be ♪ tt and retirement savings. voya helps you choose the right amounts
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do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questions. better outcomes. truly, truly i want justice and fairness to come to donald trump maybe this weekend, maybe not. he built a fabulous successful business empire and if you give it a chance he will rebuild america as well. someone who's always just and fair, liz mcdonald -- no, david osmond. >> is not just donald trump, it's you and me. he went to trump, they can do it to anybody, that's really it. have a great weekend, thank you very much.
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