full report, art laffer, steve moore will weigh in.eanwhile the great state of texas is early didded to stop the invasion of illegal immigrants no matter what various courts may say. donald trump should use the excessive fines clause of the eighth amendment to halt joe biden's lawfare. we'll hear about all this from vivek ramaswamy in just a couple moments. general jack keane will give us his take why democrats are turning against israel. kellyanne conway on safety and security, driving women and minority voters to trump. and bjorn lomborg, on why following the so-called climate science will cause, get this, $60 trillion by the year 2100. $60 trillion for no good reason at all. let's go straight to our own edward lawrence live from the federal reserve. edward, how was the broadway show today? >> reporter: it was great, opening act, closing act. there was no intermission. i can testimony you the fed decided to pause for the fifth straight time in the federal funds rates as you know that sets interest rates with a pause there the federal

art laffer, thank you for joining us. >> i love it, e mac.nks for having me on. >> liz: love it too. joining me now is former federal prosecutor katie cherkasky. good to see you again. okay, this misconduct and conflict of interest case to disqualify fulton county d.a. fani willis from the georgia 2020 trial, we have this codefendant, dave schafer, what do you make of this? new court filing, he says prosecutor cindy lee yeager ready to testify. she can corroborate that willis began her affair with special prosecutor nathan wade years earlier than they both testified to. what do you think of this? >> i think it's incredibly damming. i don't know if the judge even needs this evidence. i think he already had significant circumstantial evidence based on the testimony of wade, willis, and bradley, that was already before him. but certainly he could take additional testimony, if he thinks it might change his analysis of when this relationship started and then the subsequent conflicts that were created as a result. >> liz: you know, reports are they

joining me now, we'll have fun, afte art laffer, former reagan an economist. and florida congressman byron donalds, who knows a thing or two about this art, thank you for joining oure esteemed congressman byron donalds and thank you for joining esteemed art laffer, you have all of the across board tax hikes, very create i creative, not, you are looking at about 6 trillion in new taxes, a phony static revenue loss, art, is there an example in recent history in deeper history, whether where you can tax your way into prosperity where raising taxes on individuals on worker forth on investors -- on capital gains, on corporations, on every darn thing that moves? is there example, you wrote a book about this, where is the evidence that shows you can tax your way to prosperity? >> based on the evidence, larry on tax returns, every single time you raise tax rates on the rich, 3 things happened, number one revenues from the rich have fallen. number two, the economy has under performed. and number three the biggest damage done is on the poor, the minorities and disenfran

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former reagan economist, art laffer and can't say art laffer without saying the great. art laffer coming up on whether the biden campaign lost its claim to represent blue collar workers in america when the middle class actually did better under trump. democrat-led cities and counties across the u.s. are handing residents cash with no strings attached. what are hard working americans thinking of that? economists say this is part of the left's play book saying this will lead to higher taxes and more spending. we'll ask art about all this next on "the evening edit". ♪ ya know, if you were cashbacking you could earn on everything with just one card. chase freedom unlimited. so, if you're off the racking... ...or crab cracking, you're cashbacking. cashback on flapjacks, baby backs, or tacos at the taco shack. nah, i'm working on my six pack. switch to a king suite- or book a silent retreat. silent retreat? hold up - yeeerp? i can't talk right now, i'm at a silent retreat. cashback on everything you buy with chase freedom unlimited with no annual fee. how do you cashback? cha

the laffer curb, what is wrong with these people it is time to retire all of them. arthur i do. and take a couple tylenol, every 4 hours, and take some flonase this will help, steve moore thank you for your tax heights, art laffer get well. >> on cu kudlow, on great state of texas determined to stand the invasion of illegal immigrants, and i still think that eighth amendment is donald trump's best option against joe biden's lawfare, we will talk about this with vivek ramaswamy. it will be a real treat. vivek ramaswamy who himself believes in free market capitalism, as i do, i am kudlow, eel on -- we'll be (♪) is bad debt holding you back? ♪ the only limit is the sky ♪ ♪ it's our time ♪ ♪ you don't want to miss it (just a little bit louder) ♪ ♪ it's our time ♪ ♪ you don't want to miss it ♪ ♪ it's your moment in the spotlight ♪ all your ambitions. all in one app. low fixed rates. borrow up to $100k. no fees required. sofi. get your money right®. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's th

the laffer curb, what is wrong with these people it is time to retire all of them. arthur i do. and take a couple tylenol, every 4 hours, and take some flonase this will help, steve moore thank you for your tax heights, art laffer get well. >> on c kudlow, on great state of texas determined to stand the invasion of illegal immigrants, and i still think that eighth amendment is donald trump's best option against joe biden's lawfare, we will talk about this with vivek ramaswamy. it will be a real treat. vivek ramaswamy who himself believes in free market capitalism, as i do, i am kudlow, eel o -- we'll be right back. it penetrates deep into the tooth to actively repair acid weakened enamel. i recommend pronamel repair. with new pronamel repair mouthwash you can enhance that repair beyond brushing. they work great together. ♪ tourists tourists that turn into scientists. tourist taking photos that are analyzed by ai. so researchers can help life underwater flourish. ♪ ♪ i have type 2 diabetes, but i manage it well ♪ ♪ jardiance! ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i

the laffer curve . what is the laffer curve? curve. what is the laffer curve?reagan era in the 80s and 90s, and arthur laffer came up with the striking but very simple idea that some taxes, if you lower the tax rate, that means more people pay the tax because you change behaviour and tax revenue goes up. the laffer curve is usually thought of in the other direction . if you the other direction. if you raise tax rates, then people do less work and work very hard to avoid taxes . so you actually get avoid taxes. so you actually get less tax revenue . and the obr, less tax revenue. and the obr, the office for budget responsibility, has resisted the idea of the laffer curve for quite a long time. you know, people like liz truss, kwasi kwarteng, people on the right of the conservative party, john redwood, also former cabinet minister, have often said if you lower taxes , you get the economy lower taxes, you get the economy moving. and that means you raise more revenue. the obr has resisted that idea. but in this one instance, and jeremy hunt referred to this in his

art laffer and congressman byron donalds will carve the biden budget.nd why are tax dollars being used to fly in joe biden's illegal immigrants? senator katie britt will have something to say about that. former small business cabinet officer linda mcmahon will tell us why the bidens hate small businesses. then mark simone, joe concha will talk about armed troops in new york subways, firefighters a booing letitia james, how woke were the oscars? we'll go through tiktok. should the united states ban tiktok or perhaps a chinese communist takeover will come to an end? but first up right here our own edward lawrence is live with all the good news. i'm congratulating joe biden. he followed through on his state of the union with this terrific budget proposal. edward, what can you tell us? >> reporter: yeah, tax-and-spend, right, that is exactly what he pitched at the state of the union. that is exactly what we're seeing. he wants to spend $7.3 trillion in this budget. that is more than last year. to pay for that in the budget he plans large tax increases, basi

move ahead of a busy week earnings, the consumer price tomorrow dollar stores reporting earnings laffer tengler chief investment officer nancy tengler is here. ♪ ♪ why choose a sleep number smart bed? ♪ . can it keep me warm when i'm cold? wait, no, i'm always hot. sleep number does that. can i make my side softer? i like my side firmer. sleep number does that. can it help us sleep better and better? please? sleep number does that. 94 percent of smart sleepers report better sleep. and now, the queen sleep number c4 smart bed is only $1,599, save $300. shop now at sleepnumber.com this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire j.p. morgan wealth management knows it's easy to get lost

we'll talk about it with art laffer of laffer curve fame all when "kudlow" returns.g. we'll be right back. when you're a small business owner, your to-do list can be...a lot. ♪ [ cellphone whooshes ] [ sighs ] that's why progressive makes it easy to save with a commercial auto quote online so you can take on all your others to-dos. already did. see if you could save at progressivecommercial.com. (fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher investments. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different. ♪ m

larry: speaker mike johnson's lips to god's ears, no new tax hikes, we talk about it with art laffer not running for anything, we'll be right back. this small thing, is the next big thing in diabetes. woah. it shows your glucose, and predicts where it's headed, just like that. it's not magic, it just feels that way. i wanna make you go wow, make you go wow, make you go wow. not all caitlin clarks are the same. caitlin clark. city planner. just like not all internet providers are the same. don't settle. you want fast. get fast. you want reliable. get reliable. you want powerful. get powerful. get real deal speed, reliability and power with xfinity. she shoots from here? that's kinda my thing. larry: no new taxes speaker mike johnson said fiscal commission or not, neuschwansteno new taxes we talk about it with art laffer. i guess no new taxes that is good, i was worried. the fiscal commissions, they sit down, and before they pour first cup of coffee at 9:00 a.m., they all stalk about raising tax -- talk about raising taxes on balance the think about. we have seen it a million times. an

joining me, founder chairman of laffer associates, art laffer.egin with this huge story. apparently you're one of three economic advisors being considered for fed chair should trump win. your thoughts on that? >> yikes, yikes, no, thank you. it is very flattering but let me just tell you that president trump, when he is elected, take office in january of 2025, then el have to wait a year-and-a-half before the fed chairmanship comes up to make an appointment. i will be a little older than methuslah, 9686 years old. i think that is too old to be fed chairman. i'm flattered my name was chairman, if that is really nice. if they had done it 20 years ago, whoo-hoo. that doesn't make any sense. thank you very much for the nice stories, lovely things, my grandchildren, great grandchildren love the stories, charles. it is very nice, very flattering. no, that is not going to happen. charles: they should love the story, i got goose bumps thinking about it. it is fantastic stuff. >> i did too. i did too. charles: is there any names -- a lot of friends you ma

larry: speaker mike johnson's lips to god's ears, no new tax hikes, we talk about it with art lafferkudlow returns, mark simone is really a good guy, he is not running for anything, we'll be right back. when you're a small business owner, your to-do list can be...a lot. ♪ [ cellphone whooshes ] [ sighs ] that's why progressive makes it easy to save with a commercial auto quote online so you can take on all your others to-dos. already did. see if you could save at progressivecommercial.com. nexium 24hr prevents heartburn acid for twice as long as pepcid. get all-day and all-night heartburn acid prevention with just one pill a day. choose acid prevention. choose nexium. meet the jennifers. each planning their future through the chase mobile app. hellooo new apartment. one bank for now. for later. for life. chase. make more of what's yours. [ applause ] the day you get your clearchoice dental implants changes your struggle with missing teeth forever. it changes how you eat, how you feel, and how you enjoy life. it changes your smile and how others smile at you. clearchoice network docto

ar t laffer expected to weigh in ar t laffer expected to weigh in coming next. an advanced form of thefrom amd made me want to help you see warning signs of ga, like: hazy or blurred vision, so it's hard to see fine details, colors that appear dull or washed out, or trouble with low light that makes driving at night a real challenge. if you think you have ga, don't wait. treatments are available. ask a retina specialist about fda-approved treatments for ga and go to gawontwait.com it's odd how in an instant things can transform. slipping out of balance into freefall. (the stock market is now down 23%). this is happening people. where there are so few certainties... (laughing) look around you. you deserve to know. as we navigate a future unknown. i'm glad i found stability amidst it all. gold. standing the test of time. >> sandra: back to our breaking news and the federal reserve leaving interest rates unchanged as expected, keeping them in 5.25-inch percent but also indicating there could be three rate cuts this year, not necessarily the unchanged interest rates the from the market it

art laffer get better quickly. we appreciate it. >> i'm in great shape. >> thank you.peaker mike johnson keep the gavel for the congresswoman anna paulina luna will weigh in that after the break. uuu, this looks romantic. [bell sounds] welcome, i'm your host, jacob. hi. how was the weather getting up here? fine but, you know, i think we're, we're just going to go up to bed and— do you believe in ghosts? [whistling kettle sound] no? good! mother is buried in the yard. meanwhile, at a vrbo... when other vacation rentals have no privacy, try one that has no one but you. ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. so you can feel confident in your financial choices voya, well planned, well invested, well protected. david: welcome back to "coast to coast" i am chad pergamon capitol hill. marjorie taylor greene has had enough of house speaker mike johnson. he is only been on the job six months, the gop majority is waning thanks to retire

12 minutes in the dow was up 100 and nasdaq up to 53, the nasdaq is over 1.5%, steve moore and art lafferhair they include kevin walsh, kevin hassett and art laffer himself. stephen moore is with us right now, you help put these names together, what is it that we want what do we need and the next fed chair? >> great to be with you, first you want to fed chair that is not going to allow the inflation rate to go up to 9.1% which is what happened in 2022 in the disaster for the economy in a disaster for middle-class families, we are still feeling the pain-and-suffering every time they go to the grocery store in the gas pump prices are up 20% is not the performance that we would expect from a good fed chair. you need somebody who is going to do a couple of things you need someone who will promote a strong economy where production because when you produce more goods and services, what happens to prices, they go down we need a fed chair who will be more skeptical of massive government spending and debt i would like to see the next fed chair bringing spending down in somebody who understands a w

the three that were mentioned with a search conducted by art laffer was art laffer himself and i thinkion or and also rand, being in the top five considered, i'll take those odds. i would say that i have tremendous respect for art laffer. he's really an iconic figure for me because he was the intellectual fire power together with robert mendel as the macroeconomicist that supported the reagan supply side pro growth economic agenda which proved very successful. i think kevin hassett did an excellent job heading up the council of economic advisers and continues to be an effective advocate for the kind of pro-growth policies i support. i don't know kevin warsh well, but he came up from morgan stanley, in mergers and acquisitions. that might come in very handy at the fed. it has in the past. >> he advises some pretty smart people in the investment community with what we're currently doing as well. he's definitely the most handsome of the three, becky. wouldn't you --? >> i don't know what you're talking about. >> art laffer is fine, and kevin is fine himself. judy, what do you think art la

want to bring in laffer cio, ceo, chief investment officer, nancy tengler. a little bit jealous. how did you get invited there? the security guards won't even let me on the property? >> i tell you the, charles, the thing so cool is the culture there. people love working there and the attitude is really, i don't know, it is engaging and infectious. charles: you know what? it is so interesting you brought that up. i remember when nike first began you know. tip phillip knight selling sneakers back of his car. everyone that worked for him loved sports. everyone on the same page. it means almost instant success. what about the notion everyone is counting tesla out all of a sudden? >> it always been historically been a great time to start accumulating shares. we initiated our position last january, we got lucky, bottom ticked it at 104. it took off. we added some in january in the low 180s. it is still not a large holding for us but it is a meaningful holding. the reason i'm so bullish the megafactory are the utility grade battery storage units. it is the fastest

laffer advised president reagan. the adviser considered other names that did not make the list was former world bank president david malpass and former fed judy shelton. she failed to win confirmation when she was no, minated. she is just too trumpy. i'm not sure what that means. i don't think it is -- it is a p pejorative. >> i don't know where to go with this. hot tpotato at 6:00 on a monday. >> did you see trump said something about the auto industry? spent two minutes talking about the auto industry. china comes here. mexico. if we don't do tariffs, auto industry is in trouble. this would be a bloodbath for the auto industry. that doesn't matter for anybody. >> if he is not elected. >> it doesn't matter. in this environment right now, i tell this story all the time. when we said we had president biden on or when he was running and he said i'm going to -- what are you going to be like, mr. biden? i'm going to be joe biden. every right wing news organization said that he said i'm going to beat joe biden as if he di

i that alone a laffer one.h institute has looked into these figures rather more carefully. it's looked at the greek example where they followed a similar policy and the effect it had there. and instead of it raising 1.7 billion, it will lose the tax man 1.3 billion. now being out by 3 billion is not small change. >> do you know something that would certainly increase growth? economic growth would be social mobility. what is hindering social mobility in my opinion, would be keeping these elite schools. can you? i think a lot of people would be surprised that the schools aren't already paying that the schools aren't already paying vat. the amount of things that we pay vat on yet, private schools are exempt that. schools are exempt from that. i think that's the real story here. >> i think we should have much wider vat exemptions. one thing that but of course we should have better schools. we should return very, very return to the very, very successful model. used to successful model. we used to have schools. have

the ceo of laffer tinkler investments. tell me how you are reading this morning's cpi numbers. >> in line with the market. one of the things we have talked about this before but we think this market is similar to the 1990's. you did have inflation hover above 3% for most of the decade. you had a 10 year between 5% and 7%. if we take a play from the alan greenspan playbook and say the fed will cut three times, that is what happened in 1990 and 1995 and then they left it at 5.5%. and yet the economy and stocks roared. i think inflation is stickier then we would like but it has still come down dramatically. this auto insurance business i don't get it. it has been driving cpi for months. >> sticky inflation but maybe not necessarily as big of a problem as it was a couple of years ago. i'm glad you brought up the late 1990's. we have seen a lot of comparisons typically as it relates to the conversation about bubbles and what is going on in tech. you have seen goldman and jp morgan coming out and saying that you look at earnings

art laffer would be the guy, he's an ideologue. he doesn't believe in bank recipes ever.asing supply to lower taxes and things of that nature. the other two would not. the other thing is the pickle that donald trump is financially right now. i remember, check me on this. when he ran in 2016, a press release. i remember the press release, it was. i'm worth in excess of $ 10 billion and to emphasize it, he wrote out dollars in a press release. they wrote out the dollar sign. neil: was he? jack: a devil of a time putting this up. charles: his friends aren't stepping up. neil: steve schwartzman is a friend. real estate, tom barrick is a big hedge fund worth multiple billions. and no exact reason. and and bernie marcus is another one. >> -- there has to -- eric adams is the mayor of new york. on speaking terms with tish james, he will call her up and say listen, and commercial real estate is in the dumps. and migrants coming in every day. it is very possible. she would give him some compromise where it doesn't have to dump stuff. if he doesn't start selling stuff. neil: why di

art laffer was on the program said interesting points an election year, the fed cutting in second half the year they have to be careful, he almost made the point do it now or never. larry: i don't think i will do it. >> they can't in september that would be the most political cut ever. it will create backlash, they want to defend their independents, they will not cut in september, maybe they cut in november. like the week after the -- day after the election. larry: interesting point, joe biden said he is expecting them to cut before. if they cut before, the other candidate, starts with a t will scream at j. powell, he dud that anyway. it will be like old-times. >> you have to think joe biden's advisers must have been pulling their hair when he said, i bet they will cut, that puts fed in awkward position, if they cut it looks like they are obeying what joe biden told them to do. larry: stock market went up today. s&p hit. >> record the high. >> that is important, and other hand. inflation is not creeping down. it is creeping up. or maybe creeping. this is something that fed has to pay a

kevin warsh and kevin hassett and arthur laffer. what are your thoughts about these men potentially to lead the fed and if they would distinctively turn it from where jay powell has been guiding the fed? >> well, you know, i would like to mouth the same thing the fed mouths. it's apolitical kind of thing. only one of the three whom i really know he is kevin warsh. i served with him for several years. the other two i don't know. let me say, i think jay powell is doing an excellent job as the chair of the fed. he is keeping the process apolitical. that's fundamental, i think, to the way a central bank has to operate. >> dennis lockhart, thank you for getting up early for us today. i appreciate that. >> thank you. >>> let's check on the top corporate stories with silvana henao who joins us. silvana. >> contessa, good morning. the biden administration is calling on the senate to move quickly on the bill to force tiktok's parent company to sell the social media company. the call by national security adviser john kirby comes after the sen

thank you, steve "forbes" and art laffer.ll me about the across the board failure about progressive big government socialist models. people have lost confidence in joe biden. the performance has been terrible. this left-wing progressive stuff is not working. they just are not into them anymore. i am kudlow. ♪ e ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare, life-threatening bacterial infection in the skin of the perineum could occur. stop jardiance and call your doctor right away if you have symptoms of this infection ketoacidosis, or an allergic reaction. you may have an increased risk for lower limb loss. call your doctor right away if you have symptoms of infection in your legs or feet. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. ♪ jardiance is really swell ♪ ♪ the little pill ♪ ♪ with a big story to tell! ♪ this thing, it's making me get an ice bath again. what do you mean? these straps

larry: i'll repeat, i mentioned this yesterday, with steve moore and art laffer, things that fed should think bthe inflation story, is not that great. i am not saying 1970s, but, i am saying, it going in wrong direct, super core, core services excluding housing and rent. that is up al almost 7% in ran ran ran annual rate. brent crude, up 19% to 86 dollars since december, gasoline prices up 12% that is not 5 dollars but it is not below $3, either. and the inflation to two year inflation break events, in the tips market up almost rate 80 basis points year-to-date and price of gold since october up 20%. now, when i was a much younger man practicing this on wall street, for the now defunct but great company bbear stearnss, i would have used these as warnings that inflation not dead. >> i think that powell tried to do, he does not look at any single data point or one or two month is not it. more longer term trend, that is why they didn't believe inflation when it was coming down last year. they are trying to make sure they can look at long-term tr trend. -- >> a professor now. >> he moved on

thank you, steve "forbes" and art laffer.ay marriage coming around to tell me about the across the board failure about progressive big government socialist models. people have lost confidence in joe biden. the performance has been terrible. this left-wing progressive stuff is not working. they just are not into them anymore. i am (fisher investments) at fisher investments we may look like other money managers, but we're different. (other money manager) you can't be that different. (fisher investments) we are. we have a team of specialists not only in investing, but also also in financial and estate planning and more. (other money manager) your clients rely on you for all that? (fisher investments) yes. and as a fiduciary, we always put their interests first. (other money manager) but you still sell commission -based products, right? (fisher investments) no. we have a simple management fee structured so we do better when our clients do better. (other money manager) huh, we're more different than i thought! (fisher investments)

almost 10% on the quarter same with s&p 500, up in first quarter ends next weekend, joining me now lafferthis continues this year. >> i do by year-end, i also think that you know we're in a period where we could get some sloppy trading earnings are done they were great fourth quarter, up 10% versus estimates of 5, so that was really good news i think what you are seeing, is that the market now doesn't have a catalyst we got news from fed, was very mixed in my view, in terms of of what he actually said the market interpreted it positively now we've got i think to rest a little bit i wouldn't be surprised if correction that i would be buying the dip. maria: glad you said that bostic basically put water on all expectations of rate hikes. rate cuts, pardon me, the fed official said to expect only one rate cut this year, bostic noted troubling things in inflation data we talked about this cpi hotter than expected does that, put a damper on our expectations for the fed to make three rate cuts he is saying one. >> i think he might be right by the way, what fed chair powell said that was so befud

elizabeth: tomorrow, mike huckabee, senator ron johnson, art laffer. my buddies dagen and sean. take it away. dagen: thank you

another the names mentioned kevin hassett on the former chair of the council of economic advisors art laffern warsh and economist during george w. bush administration. what do you think of those three individuals. >> president trump nominated the current federal reserve chairman jerome powell but as he would not want to confirm or nominate again these are three good folks who would be good nominees for the federal reserve that would do the right things when it comes to look at inflation price stability should be the key thing that the federal reserve should look at and only have control over others would be john taylor from the hoover institution with the taylor rule we need rolls in place for the federal reserve not just a discussion of higher inflation throughout the economy somebody's going to put in place what americans can expect and what the federal reserve will do overtime. >> another factor for donald trump the wrath against jerome powell he did think that donald trump did not like he started raising interest rates earlier in the president came on him like a ton of brics but then cri

larry: so i will repeat, i mentioned this yesterday with steve moore and art laffer, things that theed should think about, because the inflation story is not that great the last few months. i'm not saying it is the 1970s all over again. i'm just saying it is going in the wrong direction. the so-called supercore -- >> core services. larry: excluding housing rent, that has gone up almost 7% at an annual rate for the last three months. crb index of commodities, plus 12% since november. brent crude up 19% to $86 since december. gasoline prices up 1%, $3.52. that is not five dollars but it isn't below $3 either. actually the inflation, the two-year inflation breakevens in the tips market up almost 80 basis points year-to-date, closing in on 280. the price of gold since october up 20% from 1820 to 2180. now when i was a much younger man practicing this on wall street for the now-defunct but still great company called bear stearns, i would have used these price indicators as warnings that inflation is not dead. >> and you can correct me on this john, but what i think powell tried to do yest

so the laffer curve is so visible.ght. >> if president biden is going to raise the corporate tax rate, what will happen, revenue will tank and when revenue tanks, what will happen to the bond yields and so on? he will destroy the economy right now. they have this big huge deficit and make it worse driving up interest rates and driving up the deficit. larry: i think ironically the tum corporate tax cuts which have promoted corporate profits, for years, for years, is one of the biggest sources of stimulus left in this economy that hasn't been blocked out by biden's regulations and inflation and interest rates and so forth, steve moore. now i want to go to you on this, they want to penalize again billionaires but i was reading anyone making over 400,000-dollars a year and want to raise a tax on stock buybacks and probably everything that moves. hang on a second, didn't you just show me in the committee to unleash prosperity hotline that the top 1% pays -- >> almost half. larry: almost half of the income tax? >> almost hal

the laffer curve is a fama dominant just because you increase tax rates does not mean you will increaseh the tax cuts and the job act, even though we reduced the rate on corporations and top income earners, the actual amount of taxes paid by the groups increased in the years following in the passage of the act that only a couple of years hit all-time highs. >> what you are saying, when you talk the facts about taxes and tax system with people that are so ideological and so in the corner it's almost like arguing with a turnup or fighting with the statue, they just stay in their lane without the facts, politifact, fact checkers are calling a false, biden's claim that the upper tax bracket paid an 8% tax rate, that is false, that the meetup figure by biden political appointees, data from the u.s. treasury come up congressional budget, irs, taxation although sources find youth anywhere from 25% to 30% of the average tax rate on the top 1%. it hovered around 30% for a number of years for four decades. >> exactly, you make a great point, once you hit a certain level of your income being taken

ought laffer, friend of this program, interesting point in an election year, the fed cutting second halff the the year you have to be careful. he almost made the point do it now, or do it never. larry: i don't think they do it. >> i don't think they could do it, in september, that is the most political cut ever been. they know, they will defend independence. they will not cut in september. if they don't cut the first half, don't cut the back half, maybe cut november, day of the election. larry: that is an interesting point. joe biden already said he expects them to cut before. if they do cut before the other candidates, starts with a t, will scream at jay powell which he is accustomed to doing anyway. it will be just like old times. >> you have to think joe biden's advisors must be pulling their hair i betcha they will cut. that really puts the fed in awkward position. if they cut they look like they're obeying what joe biden told them to do. larry: this is interesting. the stock market went up today, what did you say the s&p hit -- >> record high, record my. that is important. on the ot

let's bring in laffer-tengler cio nancy tengler. your thoughts on the funk letter. >> yeah.trategies. so we had the esg era and then we had the double up on china era from larry fink. and while this is noble, i think there are things that blackrock could do that would encourage investors to really be focused on saving for retirement and staving to invest -- staving to invest for retirement. -- saving for retirement. there are a number of things investors can do for themselves x one is to realize it's never too late to invest for your with retirement. i used to write with a column for "usa today," and i wrote ability a woman named stephanie who didn't start saving or investing until she was on a fixed income and retired, and by the time she died, she had given away $5 million. so it is important for become people to understand that they can do this, they can do it on their own. of they don't need a target date fund. which blackrock would be happy to sell you with, because those the make decisions for you, and they take the risk profile out of your hands. but then secondarily,

down and so that, you know, went down and that the treasury and the obr had agreed that there was a lafferould raise more money, but why not take it down to 20? so you only have one rate of cgt? why carry on with this muddling the tourism tax that we still have would boost the economy if we got rid of it. the silliness over non—doms non—doms contribute to the economy . they contribute to the economy. they should be welcome when we've got the obr forecasting 350,000 immigrants coming in every year, many of whom make a negligible economic contribution, making it harder for non—doms who in very small numbers make a very big contribution . ian is really bad contribution. ian is really bad policy and then we've got all these costs of net zero and the high cost of energy and entries in the government accounts that are bizarre. they have revenues of 11 billion for environmental charges and costs of 11 billion for environmental charges. what are doing ? why is the are we doing? why is the government charging itself this sort what is the sort of money? what is the point? we need to have a pro—growt

republicans left to give up on the laffer curve because it's proved not to work in an open economy.ed other countries, think of apple, they get corporate tax cuts and build plants in china. i think you will have to see a complete reorientation of both parties economic policies. jonathan: only got 60 seconds left. richard, plenty of work and how quickly will seal his political changes. how quickly is that can happen? lisa: will you get that to happen given every election cycle is a race to the bottom in terms of who can cut taxes and give out more incentives to people. jonathan: richard this was great. equities now up. coming up next, sebastian page of t. rowe price on the foam of, that is not my quote. he owns it. we will be talking about next. ♪ >> euphoric. seriously. >> there's a gym. are you thinking about it? jonathan ferro will go on the crews. you said you were considering it. >> not. >> you said considering it. >> i cannot come up with a number. they can work on that one. equities on the s&p positive five thirds of a percent. people will clip that. >> they will cut off the f

so, so their inner laffer curve. so, so today hasn't got it. so today i am going to.ly is for you . angela. i now . i. i now. i. >> order that i had enough from over there. >> definitely not having it from here. chancellor >> i now turn to oil and gas. unlike the party opposite . we unlike the party opposite. we want to encourage investment in the north sea. so we will retain generous investment allowances for the sector. we will also legislate in the finance bill to aboush legislate in the finance bill to abolish the energy profits levy . abolish the energy profits levy. should market prices fall to their historic norm for a sustained period of time. after representations from the honourable member banff and honourable member for banff and buchan. but because the increase in energy prices caused by the ukraine war is expected to last longer , so too will the sector's longer, so too will the sector's windfall profits. so i will extend the sunset on the energy profits levy for an additional year to 2029, raising £1.5 billion. next. next i turn to the next i turn to the

i think there's a laffer curve in corporation tax. what does that mean?ation tax, you increase the amount of revenue you get from that tax because you have more businesses doing more, you don't squeeze businesses existence , or businesses out of existence, or you don't hinder those that already exist to do less. and then the other big tax cut i think should happen , and this is think should happen, and this is for me, the most equitable tax cut you could possibly do, the one that will benefit the greatest number of people is you need to raise that personal threshold from 12.5 grand to 20 odd grand, because if you're paying odd grand, because if you're paving, odd grand, because if you're paying , you know, when you earn paying, you know, when you earn more than 12.5 grand, you start paying more than 12.5 grand, you start paying tax. and with all respect, you know, £1,000 a month is not a huge wage in my view. if you're earning £1,000 a month, you're probably on benefits anyway . the state benefits anyway. the state should not be taking lumps out of you. n

laffer curve.there, definitely not having it from here _ there, definitely not having it from here. chancellor. | there, definitely not having it from here. chancellor.— here. chancellor. i now turn to oil and as. here. chancellor. i now turn to oil and gas. unlike _ here. chancellor. i now turn to oil and gas. unlike the _ here. chancellor. i now turn to oil and gas. unlike the party - here. chancellor. i now turn to oil. and gas. unlike the party opposite, we want to encourage investment in the north sea so we will retain generous investment allowances for the sector. we also legislate in a finance bill to abolish the energy profits levy, should market prices faulted the historic norm for a sustained period of time after representations. because the increase in energy prices caused by ukraine war is expected to last longer, so too will do sector's windfall profits. so i will extend the sunset on the energy profits levy for an additional year to 2029, raising £1.5 billion. next i can to the taxes

emily the so—called laffer curve, when you cut taxation tax rates, does the extra activity, the extraue ? the revenue or less tax revenue? the historical evidence is mixed in the end, though , as jeremy hunt the end, though, as jeremy hunt himself has said , countries with himself has said, countries with lower tax rates tend to grow faster, which means they tend to have more revenue to use on pubuc have more revenue to use on public services . it's about public services. it's about getting from to here there and the amount you've got to borrow to get there. but look , tomorrow to get there. but look, tomorrow isn't really about public spending. that's more in the spending. that's more in the spending review. we'd expect that in the autumn. but we do know, don't we, that 7.6 million people are still on nhs waiting lists for elective measures. that's a only slightly down from the record high. we know also that in 2025, rate nhs spending is set to fall. if you add in inflation, it's going to fall by over 1. that's one of the biggest drops, according to the ifs in real post inflation, nh