laffer has looked it over the decades.lso, since there are 70 ranking tools out there these days -- so many ranking tools out there these days, these are things lawmakers control. republicans and democrats, united in the idea of free markets and federalism, are looking to make their states more competitive through changing public policy such as the things we have identified. these are things -- they actually work in practice. we have seen great results based on some of the states that followed our recommendations over 13 years, becoming economically free, more prosperous, and one of the ultimate measures of are the changes in federal policy such as the limitations of state and local tax reduction that has put pressure on high-tech states and driven migration away from states like illinois and california. accelerate.trend more people have made tennessee home or places like florida and texas. states that have gotten it right when it comes to public policy. one of the things progress always taught us is that all taxes matter

art laffer has been saying that for months. we need to get there. what's your take? >> kennedy: i wish more republicans were on board with the payroll tax cut. in fact, i have a cheer. pay-roll tax-cut! [collapse] [laughter] it would be helpful psychologically and practically for people who still have jobs, and seems as though he is internalizing the advice of the former advisor, who published an op-ed about the financial emergency and delay the payroll tax for some time, such as the irs did similarly when they delayed until july, which was a big relief for a lot of people, and i'm sure there are those who have filed further extensions. my big concern here, i fear the two sides are going to come together and they will do so hastily and irresponsibly, and no one will have a plan as to how we are going to pay for this, and we're just going to increase the national debt more and more, borrow more money from china, and put generations on the hook for it and reduce the economic mobility. that is immoral. it's hard for politicians to look long term, because they only care

art laughter's come back with us -- art laffer's come back with us.are you expecting from the president tonight? >> i'm expecting him to lay out the whole plan for the future and all of the positive things he's going to do in his second term. i think he's got some really exciting things coming, stuart. transparency, he's going to do tax reform, all sorts of other good economics, and i think the markets are today hit with a lot of very good news. but i think ivanka's going to be upset with you when you mentioned that she's speaking tonight and they're all heavyweights. [laughter] just joking, just joking. stuart: all right. art laffer, thank you very much, indeed. >> really good news today. stuart: i think the investors liked your interpretation of jay powell when you said he's not going to squelch rapid. economic recovery, the market loves it. thank you very much, art laffer. >> thank you, stuart. stuart: plenty of green, up 100 for the dow. look at the nasdaq, fantastic day yesterday. it was up nearly 200 points. up another 40-odd points today, 12,00

art laffer here as well. austan, i will begin with you. i had paul dejoria with us earlier.any times over and he doesn't like the tone he's hearing out of a lot of the democratic speakers going after a wealth tax, going after a surtax and that it's gone just beyond raising rates to, you know, this idea in california where they want to take a percentage of the wealth that you accumulated there. how do you feel about that and his stating this is too much? >> well, i guess i'm not surprised that a guy who is a multi-billionaire and just benefited from a $2 trillion high income oriented tax cut would be opposed to seeing his taxes would go back up. i'm not surprised at that. neil: what bothered him the most, just to be clear, what bothered him the most was the wealth tax. not, you know, not bringing the top rate back to 39.6% but a wealth tax. what do you think of that? >> okay. there were a lot of cuts to the wealth tax. abolishing and raising the cap on the estate tax, a bunch of things that put money back into the pockets of very high income people in the trump tax cut. so i'

i'm asking art laffer that question next hour.ty, a ghost town since the beginning of the pandemic. our next guest says the city that never sleeps is now, quote, dead forever. this is "varney & company" rolling on. ♪. it's easy to get lost in the economic uncertainty. the volatility. the ambiguity. the moment calls for more. and northern trust delivers more. with specialized expertise. proven strategies rooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. ( ♪ ) ♪ i need it so bad don't call it a hobby. it's way more than just a job. this is how we live every single day. can we go and play? (roaring of engines) ( ♪ ) ♪ i needed to try ( ♪ ) ♪ needed to fall ( ♪ ) ♪ i needed your love ♪ i'm burning away ♪ ♪ i need never get old ♪ i'm burning away ♪ simon pagenaud takes the lead at the indy 500! coming to the green flag, racing at daytona. they're off

payroll tax cut which, as you know, is something that aye been a big advocate for as well as art lafferts in those districts, remember, democrats won about 20 seats that are republican districts where those voters want to see a deal, and pelosi's basically stonewalling. so i do think there will be a deal, and i think that must mony will be flowing sometime by early october. stuart: you bet your life -- >> not a lot of time. stuart: now, here's what i reallyre waltalan tan talboutut. uyo hads tsideo, reoanandaul p t attkettacdacfter aft aft lvie itewh hitouseitnd andnd pdent's spee ochnchnyrsrsight n. you' trengng us uyout youert e e atsedsell. i w way thwarowahh it, be tuseusoo mo this iha amer hicasericasom to t t, and i th k it'sppalling. .e meour story. >> s i whiteouseou on thudayight figorhtighe ee stu stu d, by thy thay, thi, a a casualty, i guess, of coming on the stuart or varney show, because what happened is as i -- i left a little bit early because i had to do a bunch of media including fox the next morning. so i e beat the crowd out, and as i exited the white house, the secu