tv Kudlow FOX Business October 15, 2024 7:00pm-8:01pm EDT
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when you call, a knowledgeable, licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free. and there's no obligation. you know medicare won't cover all your medical costs. so, call now and see why a medicare supplement plan from a company like humana just might be the answer. larry: hello, folks. welcome to kudlow, i'm l arry kudlow. so president trump at the economic club of chicago today defending tax cuts and smart tariffs, steve moore, john carney will be here. first upgrade gr, grady
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trimble. how was he. reporter: the audience at this economic club of chicago events was receptive, but the interview itself got contentious at times, former president trump took questions from the editor in chief at bloomberg, john micklewaite. and there were philosophical differences between the two. by far biggest topic was tariffs. that micklewaite suggested would hurt the trade partners and increase national debt. former president trump fired -- back. >> i know how committed you are to this must be hard to spend 25 years as tariffs as negative then have
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anyone explain to you you are wrong. reporter: they covered a lot of ground on other topics, including federal reserve, tiktok, geopolitics and immigration. >> are you prepared to say its fine to have a slightly small ir. >> okay, i want a lot of people to come into the country. but i want them to come in legally. i don't want to have murderers -- pa >> we're told economic club of chicago invited vi vice president harris to sit down for a similar session, we're told that campaign has not gotten back to them. the economy is number one issue for voters, voters like what they hear from president trump, that is what polling suggests.
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larry: sometimes the polls are right, thank you grady trimble. tariffs could be 6 r secret sauce to trump's work offing class coalition, that is the subject of the riff. in cas case you didn't read it check out "wall street journal" editorial today, kamala harris pitch to black men will more hot smoking and forgivable loans peal them from trump, she spent 20 thousand in forgivable government lones for one million minorities to start a business as we learn with american rescue plan, that is way back in 2021, that had al loan forgiveness program. for farmers -- then several judges en joined that program and department of justice did not appeal it. this latest from kamala harris is the same thing.
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allocating government lones on bases of race, is unconstitutional. and comes bit about legalizing marijuana, which is beyond stupid. the more people who smoke pot, the stupider theyy can cam, that is what black communities in california have learned and everyone in new york has learned there self help spiritual programs that will help stop people getting stupid. noun of help kamala. -- none of help kamala her problem with black males is part of her overall problem with males in general, young men are leaving demo democratic party according to harvard institute of politics, 33% of young men identify as defdemocrats, you might guess it is economic. rising prices are killers to young men, in particular
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biden slump in manufacturing where pre-pandemic, trump created 450 thousand manufacturing jobs, and biden-harris at same stage of cycle 187 thousand. economic anxiety for those without college degree running high, they see trump as more hopeful than kamala harris, higher rents with highigher prices driving young men toward trump, said for high interests, and broken affordability dream of getting married, and buying your own first home. interestingly while economists are free traders, believe trumpy is tariffs are somehow inflationary, the reality is the ground is that young men and you might say blue-collar working folks, they favor tariffs, by considerable margins. they recall there was no
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inflation during the trump years, they were pleased to see trump fight back against china. when it comes to manufacturing jobs they see trump as a continued fighter against china. and maybe india and perhaps elsewhere. but mostly, they want homegrown jobs to be avail finaable for those without a college degree that is about 2/3 of american male work force. who still work with their hands, and stale believe that america can be great again. this is trump's working class coalition. blacks, hispanics, asians, and whites, and young men and et cetera it is a force to be reckoned with just three weeks from today. that is the subject of the riff. all right. joining me now john carney, breitbart news finance and economic editor. and steve moore host of moore money, wabc radio.
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to with the sound, first sound from trump in chicago. >> tremendous waste, fraud and abuse in the country, if you could cut it, you would have a surplus without even going into growth. but, growth -- we will grow we'll bring companies and jobs at levels that you have never seen. you would never be able to do it, you are not a believer, only way -- let me tell you, only way to do it, is to through threat of tariffs. larry: you know. i heard my pal david asman say, i said this to trump when i interviewed him two fridays ago at mar-a-lago, he already negotiating, he has started to negotiate. by threatening baseline tariffs and other mechanisms, he is putting the word out, there is a new
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sheriff, or let's say a new updated sheriff, who has come to town. and if they don't reduce their trade barriers, then they will have to pay for it, john carney. economists don't like that. we'll get to that issue, but this right here, trump is -- negotiating here in chicago, like he negotiated with me in mar-a-lago, and he will keep negotiating. >> you are right. american people love this, latest abc news poll shows 57% of americans support taxes high are taxes o on imports, they try to phrase it negative, they still got a commanding majority of american people saying they are in favor of, that people know anon inflation is not an issue, not caused by tariffs, milton friedman taughts that you it is caused by monetary policy
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and tariffs don't cause inflation, the economists know petter what they say -- better, when they say trump is causing inflation they be fibbing. larry: steve moore, this is odd, trump believes in reciprocity. if china keeps developing unfair trading practice or continuing unf unfair trading practices, i don't know india or other places like brazil. united states should not -- and not stand by and let them deal with us on that basis, that is how we'll lose all our manufacturing jobs, upper midwest, and midwest, blown out of water, their economies will get killed. that is what trump is trying to say. can he say it about better? not sure, i am saying some people in economic profession will not listen to what he saying, this is
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about unfair trade. >> you are right when gives a talk like today he is talking to president xi in china. and talking to europeans, and saying, play by the rules orrery we'll hit you hard, if you do his policy on tariffs, i wish he would add to that, two other elements of his agenda, that are very much pro domestic production. one is deregulation, the regulations chase jobs away. larry: did he pension that toda he mention it today. >> he did, but how are you creating more jobs in u.s. if you do kamala harris agenda, that is 5 trillion dollar the new taxes on the businesses. if you -- when you and laffer and others did can the tax cut, it -- did that tax cut that brought jobs
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and capital back it has to be whole package, retypical tariffs -- reciprocal tariffs and deleg rate deregulate the economy. >> it say package. >> it is a -- people are freaked out, i think we'll see tariffs lower than people are expecting, unlike what that interviewer said not starting a trade war, they want to sell in to u.s., they are not retaliating with tariffs they will do what trump said, they will reciprocate by bring do you think their tariffs, they will not say we want to get into it with you. larry: that is the fun. use of tariff, in trump's world, guy is a master negotiator. that is what he did for a living before president. use of that tariff is weapon of free trade.
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you will get lower trade barriers by using the tariff, here. when -- look at this, he said the other day if john deere moves to mexico, they will not get a 15% corporate tax rate. he might put 100 or 200% tariff on it. what happens? john deere will not move their plants to mexico, you will never see that tariff, they won't do it he just negotiated them right out of this. but carrot and stick, if you stay here, in the states, i will give you 15%. and i will give you deregulation. >> he has a record on this in his term in office, we imported about a trillion dollars of capital into u.s. not out. you said, for first time in 50 years, factories were moving from mexico to michigan, not from michigan to mexico it worked.
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>> all right, more, we have something about elon musk. >> i have great respect for elon. >> you don't put him in charge of deregulation. >> not deregulation, cutting. >> cutting wa wasteful spending. >> that including deregulation. larry: trump on musk, a big plus. elon musk is super human, the smartest guy on on the planet, there is a big lift here, is so futuristic, getting done things that people never thought could get done. if they would let him he could wire up broadband in rural areas, i think trump is serious, on i don't believe elon musk will be a cabinet member but he would be an ame important adadviser.
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>> musk believes is that way we're doing things now is not optimal, we could do things better, whether sending rocket ships to space or designing cars, he always looks for a way to optimize it. he also thinks we could do government a lot better than we have, i think that is great, give him a chance, i don't know he wanting to go to government. i think he would like to do is advic add -- adviser be on a commission. >> who better. he knows super efficiency, everything that he runs has been fantastic, you could in my opinion, having studied budget for 40 years you could find a trillion dollars of the budget, bret baier doing that interview with cam kamala, he tweeted out what questions do you like, and her can you
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name 4 or 5 government programs that you would like to get rid of, she has zero efficiencies or spending cuttings just tax increases. >> and more spending. her first economic plan, never had anything but increase spending. first program was 1.7 to 2 trillion dollars that was just a couple months ago. here is trump on inflation. >> people are betting that your policies will drive up debt, they will drive up inflation. they will drive up inflation rate, interest rates, are the investors wrong. >> yeah, i had 4 years with no inflation. i had 4 years with no inflation. biden went two years with no inflation because he inher ited from me, then they started spending money like
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drunken sailors. larry: micklewaite was the coeditor of the economists magazine. he represents you know liberal keynesian economic view. that produces such st stellar noble prize winners as simon johnson who thoughts trump plan would cause , a stock market crash and a depression. i think it is important. whole issue of inflation, revolves around tariffs. >> look, facts are facts, trump was president and it is true that inflation rate in his 4 years in office, 1.9%, it below fed target. kamala and biden drive it to 9%, average 6.5. how in the world, unless you suffer from trump derange ment syndrome as an economist, would you looking at those records and sh
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say harris would be bit or inflation. larry: what micklewaite ask the questions, i'll take him, you know, he is -- call him a st straight shooter, he is who he is. he is a static guy, not a dynamic guy he hous does not see for example tax cuts, will produce kind of growth, productivity, and higher real wageses or the way that the laffer c curve works. they don't believe that laffer curve works, we're sitting here we have numbers for 2023, and 2024, corporate revenues we're in the 10 year window for the trump tax cut. it is 24.
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corporate revenues alone are off the charts, higher than they been predicted, they don't understand that. >> they are wrong about the deficit, they look at it as one thing, if you run-up to the deficit, through government spending, that is directly sphim stimulating inflation, because the government is not produce anything more, like you said if deficit increases flew tax -- through the taxes you encourage production, when the economists look at this say, kamala harris -- will be here and trump's here, that is acting as if those are created by the same thing, they are not. you run you of deficit 3 spending that creates inflation and increasa little bit. through tax cuts, that does not increase inflation that is question we saw no inflation under trump and massive inflation under biden-harris. larry: it comes down, this came up last night, if you
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spend your own money -- that is anonymous a inflationary, if government spends your money it is not inflationary. i would like to ask a john micklewaite or others of his ilk, what if any tax cuts would you recommend that would boost the economic growth across the board and what would revenue impact be, you would have to come back to laffer curve, and marginal tax rates, they used to believe it. >> big story, i think today, trumps look presidential, under control. and he had really solid answers that donald trump is if he could be like that for next three weeks, he will win this election in a landslide, they don't like, wow, wild crazy stuff or name-calling he talks about issues, the economy is his home turf, he en owns the
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economy. larry: playing at home now, he could win popular vote, i did not believe it i was talking with people, large scale polling operation, by shaving margins in new york 10% and c california 10% he could win popular vote. >> i just want to win electoral college. larry: i was driving up in vermont saw trump flags in vermont. larry: steve moore thank you very much. >> john carney thank you. >> all right, don't miss bret baier interview with vice president kamala harris tomorrow, at 6 p.m. eastern on special report, coming up, kamala harris and her anticatholic agenda. nim nickel son of is joining us next much
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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. larry: our democrats losing the religious vote, is there an anti-catholic bias in the democratic parties, joining
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us now, jim nicholson. great to see you. i'm reading about you in various interviews, in truth, it would appear that democrats have an anti-catholic and anti-christian and probably anti-jewish bias. this is a religious bias, what do you think? >> i agree, they seem to lost their way. and it is sad. i grew up in a democrat catholic family, i have 6 siblings all 7 of us are now republicans, we just condcan't bear th the derition of the catholic church by catholic party. the leaders deride it and others sit still don't reaction or criticize, they lawsuit their minds and -- lthey lost their minds and spirits about the catholic church and democrat party, this is sad butrue, look at
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governor of michigan openly puts a dorito on-line of an influencer -- the lips of an influencer wearing a harris-walz t-shirt in a comic format, this is most sacred accuknow liturgy of the catholic church and the mass of the people. that is the administering of the communion and they made fun of it i didn't hear any outrage among any catholics nothing from -- i am sorry from the democrats, they just sit still for it. similarly, when harris was suing the little sisters of the poor, whose mission in life to take care of the elderly, they had a man who tried to be a judge, she found out he was a member of
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the knights of columbus. they look after young people they have athletic endeavors for them. it is a fraternal organization, she made out like this guy of head of some radical organization in the radical is the person from california, that -- who really is showing great deal i think of bias and anti-catholic bias. and then you couple that with her history. she was a strong proponent when attorney general of california of the fact act. it passed that said, if you show up in a pregnancy clinic, young lady who has gotten pregnant. to seek help, try to save that baby, the law requires they post clearly, the
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location of the nearest abortion clinic. she was just strong proponent of that. the equality act. tried to force doctors and nurses to administer abortions against the religious convict you should bees there is a real matt everyone of this woman, and a real pattern of passiveisity in the democratic party today. i have becam aware of some ads run among hispanic catholic women pointing out just, how anti-catholic this team of harris and walz is and democrats, they are beginning to become outraged about it. i think there is you know there is movement out there about it. i hope there is, because it is -- catholic church is about 30% of people are catholics, a lot have been
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democrats over the years. but, the party left us. it is certainly leaving the church, i think now, even the cardinal of new york said, i don't get these people, like they are trying to push people away. harris decides to not go to the al smith dinner. >> the last guy that didn't go lost 49 states. and by the way. cardinal dolan was not bashful about pointing that out. i mean, it will affect presidential, it also will affect some of the senate races. one other point, this is not -- this is to some extent common sense, you have this issue. whewhere, the biological men are competing in women's sports. the tran gender problem. which will be a big issue.
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we'll have ron johnson senator johnson come in later, could over turn senate seat in wisconsin. could affect outcomes in montana. could affect outcome in texas we were talking last night on set. this stuff -- it seems like these democrats, not every one of them but left wing tail wags the democratic dog, they don't want any religion whatsoever jim. >> that is right. that is the point. you said not all of them, but those are that are not are very quiet. you know, not hearing from them. the outrage. the easter greeting of democrat party that past year was a greeting about transganderism. easter greeting. they -- can not face the fact that people did not
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like this liberal woke radical agenda, look at waltz, in minnesota. he mandated they have sanitary napkins in the boys' bathrooms in high schools in minnesota. this is just going on. this is people -- >> not right. >> people can't and shouldn't sit still for this any longer. larry: thank you very much jim nicholson. >> good to see you. >> coming up. why are young men deserting democratic party, that includes young black men, young men, we'll ask congressman wesley hunt in just a moment. earcher. and - ahoy! it's the explorer! each helping to protect their money with chase. woah, a lost card isn't keeping this thrill seeker down. lost her card, not the vibe. the soul searcher, is finding his identity, and helping to protect it.
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congressman wesley hunt. welcome back. i tell you one thing for sure. kamala harris -- putting everything aside. politics and rest, for giving government loans on a specific basis almost a color of your skin basis, and suggests that smoking pot is a good idea is not a good idea. right there. just making pot legal, really? that is her solution. to what ales young men -- alesai aiwell,s young men, that is stupid. >> it is. coming from her hypocrisy is nauseating, this same woman a prosecutor she was locking up black men for marijuana charges like hot cakes, we're not buying it this a lie, and campaign promises are not coming to fruition, they are trying to buy black male vote but now offers
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black businesses $20,000 that reminds me of "forrest gump" on the bench, he got a million dollar shot in buttocks, he said i did not see a nickel of that money, she is lying to us and every 4 years they show up with empty promises, and black men are hip to the game. larry: i think they are. more generally, sir, you read poll after poll, young men young men are leaving the democratic party. they are leaving the democratic party for a lack of economic opportunity, because the biden-harris inflation and prices are way too high. they are leaving democratic party because the dream of an affordable new home, great american dream, seems out of reach. and other thing is, they like this is the interesting part, professional
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economists may rail on about tariffs. but reality is tariffs are popular as lan long as they protect american manufacturing and young people in particular like tariffs. so what do you make of that? >> tariffs, president trump used tariffs as a negotiating tool to boost our economy. young men, young black men, are getting hip to the game, i say that is interesting last week, barack obama descended from martha v vineyard to wag his finger at black men and blame them for not voting for kamala harris because she is a woman, this is insulting, this is not about voting for them, it is about voting for the right person, not them because of color of their skin, black men realize it
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was better under president trump than it is under kamala harris, people like barack obama who spend their time around white hollywood elites, have no idea what it is like to buy groceries and put gas in his car, and live in this economy, they wag their finger at aus, but we're not pay attention any more to, that. i don't want anyone voting for anyone based to color of their skin, i am a congressman and a white majority district, they are not voting for me because i am black, they vote for me because of my conservative values and how i feel about the country, my acumen and education and service, let's get the race and pandering to the black community get to brass tax it is about the border about the economy about our safety, that does not impact just young black men or young white men or hispanic men but every single demographic. larry: in is working class coalition, i talked about it in the riff.
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being put program by mr. trump, he started it 5 or 6 years ago and continuing it in this campaign. i think the popularity of that coalition is one reason why he is doing so well in the polls, i know polls don't vote. but i am saying, he is having a lot of success, interesting thing about this coalition, it wants a better economy and a closed border, and stopping all of these price hikes, it would like to see prices come down. i don't see kamala harris answering any of those questions seeker does not have a solution to the border, does not have a solution to lower price, only solution she has on economy best i can determine, she want to spend more and tax more, people have seen st for the last three and a half years, they are leaving necessary, in droves young people leaving, young men.
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cat catholics leaving the party, i am not sure they will be able to fill out pollworkers on election day, that is a joke. >> you know. the more people hear her speak the more people don't like her, she has no plans for anything, i had an opportunity to fly with former president trump on his west coast swing, to coachella and las vegas, he has his finger on pull with working class americans and what we need, lower energy prices and release american energy and inflation to be under control, basic that president trump is speaking to heart, soul and core of middle america that is why he is doingo well, kamala harris, and barack obama and tim walz, only thing they are speaking to are liberal white elites that care more about gender transition than average working america that is why we're surging in polls on november we'll have a very good day.
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we're reaching a crescendo at the right time, people are now pay attention, they know she has no solutions to the issues in the country, she supports joe biden for past 4 years and in lockstep with him. i tell you what, this country needs change, and everyone know its trump is here to deliver. larry: i tell you what. i think you are right, but i till what you else, pot is not the solution. anyway. >> no. larry: wesley hunt thank you, sir. >> thank you. larry: joining me now, mollie hemingway, editor in chief and victoria spartz . what do you think of wesley00 said, a smart guy. this is about the economy about the border, i don't see -- it is late in the game, pot is not a solution. i don't know what is a
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solution at-this-point. she is squandering show many opportunities. >> as you know the people never have solutions they try to play identity politics they use them, karl max tried to pole orize people, i think that american people are waking up and understanding there policies are oppressive for a lot of people they claim to help, and a lot of americans will go to polls and will see by you think we'll see much more now working class americans realizing this we're the party of working bl class to bring prosperities to all americans. they cater to the elites. larry: that is it, mollie, you know, i just think that -- not everyone in the mainstream media there are interesting stories by people on the left. who warned about trump. but, trump has remade the
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republican party. you know. it is a working folks party. i still think it is inclusive. he is welcoming all folks but. at the core that is why the dese desertion of younger people are interesting. this is a working class not country club party. but democrats are rich. >> trump has done this, dragging rest of the party -- kicking and screaming, he did put together a coalition of just a broad-based coalition, black, white, brown. americans who care about issues and how they affect middle class and working class. republican party does need to follow through on some of the promises, they want electoral success of a trump they are polling behind where he is. larry: where do you want him to go first if he wins. >> most important thing, was clarify regulatory system, so companies could thrive,
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he made that rule. you have to get rid of others and cleaning up regulatory environment gave the companies confident, you look at with elon musk and regulatory agencies are trying to suppress him, it is is amazing, different visions. larry: like that. he talks a lot about it, he goes on jags and talks about taxes, then the regulation victoria you could help. by deregulating. can you deregulate for a change? >> listen, supreme court just ruled with chevron case. let them do their job, this is important for us, trump can give greatest policies but if we don't put them in-laws, we could have a next president and they will not be sustainable we need to have good people and republicans not afraid to put their money where the mouth is and govern and deliver on the great
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policies. whether it is border security or growing economy energy policy getting our spending under control and fixing healthcare, we have to grow a backbone and help great leaders like him deliver for the people. i say, only promising thing that promise has 12% approvaliating rate, i am hopeful f. larry: mollie, last 27 seconds. they should do it all at once, big bang. go after the alphabet agencies and intel agents that stand in way. >> we saw in in first trump administration how much institutional bureaucracy can resist governor confidence. governance. >> thank you very much ladies. you should visit more.
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>> go home do good. >> coming up, is there a big senate upset brewing in wisconsin. >> we could be we'll ask senator ron johnson, who knows a thing or two i'm kudlow and we'll be right back. heartburn makes you queasy? get fast relief with new tums+ upset stomach & nausea support, and love food back. (♪)
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brewing in wisconsin, wisconsin incumbent senator ron johnson welcome back. you have upset coming, hovde defeating tammy baldwin? >> i sure hope so, he would be a great senator. took his success to built and operate shelters for trafficked children in the world, he knows how the economy works unlike my junior senator he will need h resources erichovde.com. if we send p people like tammy baldwin back and kamala harris back it is like asking the arsonist to put out the fire, he would be a great senator eric hovde. larry: it came up yesterday, the business with trans ganderism, a choice some
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people maker not. the idea thatl g -- -- that biological men should compete in women's sports is a hot button issue in wisconsin. >> it is crazy. the media has normalized it, but, biological males should not not be competing, against our daughters and not showering in the locker room. most americans view it as crazy. press is normalizing it, there is a real issue. larry: you have one businessman, yourself, now you will have two from wisconsin, terrific, sorry we're out of time thank you for coming on senator johnson we'll talk soon, i'll be right back with my last word. rstand. that's why at fisher investments we start by getting to know each other.
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so i can learn about your family, lifestyle, goals and needs, allowing us to tailor your portfolio. (wife) what about commission- based products? (fisher investments) we don't sell those. we're a fiduciary, obligated to act in your best interest. (husband) so how do your management fees work? (fisher investments) we have a transparent fee, structured so we do better when you do better. at fisher investments, we're clearly different.
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ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh larry: that's it for kudlow, thanks for watching, folks. - hi, i'm mike rowe. and if you have ever enjoyed a hamburger off the grill, or a tenderloin or a sirloin or a filet or a flank or a shank or a ribeye or a round or a rump or a porterhouse or a tomahawk or a brisket. and who doesn't love a brisket? then this is the show for you. because tonight we take you to a little slice of carnivore heaven,
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