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they were talking about the laffer curve and how tax cuts will generate higher taxso revenues. i heard them say it. very surgery, the best of -- vivek ramaswamy, the best of tha best, thanks for your wisdom. thanks for your wisdom.ma take care. >>swe be thank you. larry: you bet.ank coming up on "kudlow," oil prices are spiking. but is there an even bigger price explosion in our future? well, we're going to ask north dakota governor d doug bugham about that.ur yoguu can catch "kudlow" monday through friday 4:00 p.m. on fox business. if you can't get us at 4:00, text your favorite 9-year-oldxt and she'll show how to dvr the show and you'll never miss a-old laffer curve, ever. i promise. i'm kudlow. we'll be right back. miss a lafr [ 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 doctors have changed over 100,000 lives with dental implants, and they can change yours, too. because a clear

as art laffer said thousands of times tax something less, you gets more of it. tax something more, you get less of it. economic returns after tax and after inflation, matter for individual or, economic decisions biden's latest so-called tax fact sheet is wrong, factually, it is okay to have your own opinion. about how the world works. but it is not okay to make up your own factoids this whole biden diatribe against donald trump's 2017 tax cuts, is wrong. i just put out a few facts, i have done this so many times, such a wearying exercise, but, for entire trump term real weekly earnings for typical working class families went up 9.2%. that is for the entire trump term. so far under joe biden 3 years plus. they have actually fallen 4. 5% that is middle class wages, biggest gainers from trump tax cuts were middle and lower income earning, in fact, the lowest 20% had the biggest gain. then, poverty dropped all the way to record low of 7. 8% under trump. under biden so far poverty is 12.4% of workforce. unemployment for blacks for hispanic, asian and women dropped to

according to his campaign plans, joining us now art laffer, former reagan economist. have consequences, we had tax foundation speaking of consequences biden's plan taxes everything and everyone, scott said it would lose about 800 thousand jobs, 2% gdp, 2% loss in real wages, i think it will would be worse, but the point, is biden wants to tax and discourage success. and opportunity. >> it is totally his message, he just wants to get everything under the government umbrella. and only thing that keeps from doing that are private sector jobs and incomes, look at facts they explicit when you raise taxes on rich, the economy unperforms and the poor are hammered. and -- opposite the poor do well, that is what you find from 110 years of u.s. data, we look at every single tax return, i don't understand how he could sell this message when people understand it does not work. larry: if the top earners and most successful, if you penalize them, you penalize the middle and lower erners, we saw this. this was kevin ha hassetts argument and your argument on corporate tax biden wants

as art laffer has said thousands of times, tax something less you get more of it.ax something more you will get less of it. economic returns after tax and after inflation matter for individual or business economic decisions. so biden's latest so-called tax fact sheet is utterly and completely wrong factually. it is okay to have your own opinion how the world works but it is not okay to make up your own factoids. this whole biden diatribe against donald trump's 2017 tax cuts is completely wrong. i will put out a few facts because i've done this so many times and it is such a wearying exercise but here it goes. for the entire trump term real weekly earnings for typical working class families went up 9.2%. that is for the entire trump term. so far under joe biden, three years plus, they have actually fallen 4 1/2%. that is middle class wages. the biggest gainers from the trump tax cuts were, the middle and lower income earners. the bottom quintiles, in fact the lowest 20% had the biggest gain. then, poverty dropped all the way down to a record low of 7.8% under trump.

larry: i know, i am so old, i was there at that boston tea party, they were talking about the lafferses will generate higher tax revenues, anyway, vivek ramaswamy. the best of the best. thank you for our wisdom appreciate it. >> thank you. larry: all right coming on kudlow, oil prices are spiking. but is there a bigger price explosion in the future? we'll have north dakota governor doug b burgum about that. you can catch kudlow here at 4 p.m. on fox business, if you can't text your favorite 9-year-old, she will show you how to dvr the show and you will never miss a laffer curve, i promise, i'm kudlow and we'll be right back. try dietary supplements from voltaren, for healthy joints. moving forward with node-positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence. verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning as determined by your doctor when added to hormone therapy. diarrhea is common, may be severe, or cause dehydration or i

very special guest coming now, laffer founder, art laffer.1 million deficit for the entire year. we're 1.1 trillion in the first quarter. that seems like madness. what are your thoughts on this. >> you're right, unfortunately this is maddersness. you have student loan forgiveness biden got around the supreme court. the good news revenues are way up because ever trump tax cuts. that is good news. if you look at it also, charles, cryptocurrencies have spiked way up. gold prices spiked way up, all indicating more inflation in the future. you look at the unemployment rate it is still below 4%. if you look at all of these others, the prices, whether the consumer price index other the producers price index all of them show a leveling off if not a rising. even the short-term interest rates are up. i just don't see how anyone who believes in what the fed is doing, and i'm not one of them, i don't see how anyone can think they should be lowering interest rates anytime this year. it just makes no sense. all of the indicators are against them lowering r

we have art laffer, we have david bahnsen that will weigh in on that.z peek and joe concha, on trump's new voter coalition, pushing him ahead in the swing states as the great claudia tenney suggested just a moment ago. i'm kudlow. we'll be right back. ♪. are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. choose advil liqui-gels for faster, stronger and longer-lasting relief than tylenol rapid release gels because advil targets pain at the source of inflammation. so for faster pain relief, advil the pain away. (vo) sail through the heart of historic cities and unf

next up, folks we'll talk to art laffer.ought about inflation and a thought about tax cuts versus tax increases. i could be wrong but i sell the man. i'm "kudlow." we'll be right back. if you have wet amd, you never want to lose sight of the things you love. some things should stand the test of time. long lasting eylea hd could significantly improve your vision and can help you go up to 4 months between treatments. if you have an eye infection, eye pain or redness, or allergies to eylea hd, don't use. eye injections like eyla hd may cause eye infection, separation of the retina, or rare but severe swelling of blood vessels in the eye. an increase in eye pressure has been seen. there's an uncommon risk of heart attack or stroke associated with blood clots. the most common side effects were blurred vision, cataract, corneal injury, and eye floaters. and there's still so much to see. if you are on eylea or a similar type of treatment, ask your retina specialist about eylea hd today, for the potential for fewer injections. we pl

this was the basis of the laffer curve, vivek. give you the last word on that one. >> even for those democrat friends on the other side of the aisle it reduces effect of crony capitalism. people talk about corporations not paying their fair share. there is no tax code to gain if you simplify the tax code, broaden the base and lower the rate. it is the fairest system for competition in america. allows anyone to achieve the maximum of their potential and economic success with their own hard work and dedication. that is what america is founded on. the reason we want low tax rates in this country is not just to stimulate the economy but it is an expression who we are as americans. keep in mind remember the boston tea party, they started that party for a reason. we have to remember that spirit today as we look to stimulate your economy today as well. larry: i know, vivek, i'm so old, i was there. ■ if you're happy and you know it, then your face will surely show it. ■ if you're happy and you know it, smile big and bright. ■ thousands o

but the laffer curve , to which she laffer curve, to which she referred in her interview, which shows and again, shows that if you raise the marginal tax, higher taxes, you get more tax income. if you, if you, if you, if you sorry, if you lower the tax rate at the higher end, then you get you get, get more income. and i think she was absolutely right about that as she was indeed about corporate taxes too. but, you know, unfortunately, as you rightly say, it won't be it won't be tried out. now, i think that, the difficulty was that daniel, i think is that daniel, i think is the tragedy. >> i'm going to have to leave it there. thank you, as ever, for coming on in this case, on jacob's show. really not mine. now, patrick christys is coming up. is the menu up. patrick, what is on the menu for evening? please for this evening? please >> well, i have got the worst ever example of an asylum detention centre popping up. it's got everything wrong with it. it's a big exclusive. i went to visit it on saturday, so we'll be dealing with that. former armed forces minister james is on this james hea

getting ahead laffer tengler investment cio nancy tengler is with me as chevron chairs are about halflove the fact that you look at fundamentals. i want to get your take on it, how are earnings from your standpoint in terms of fundamental growth. >> i pinned the piece on monday that suggested we would see a slowing economy. last week's earnings were disappointing from the industrials. we saw guidance lowered in some cases and other cases we solid reaffirmed but very few instances of earnings being guided up but this week takes the cake in the same piece we reaffirmed our commitment to technology and a lot of people have been saying it's over and a.i. is not real and you saw yesterday microsoft earnings contributed materially to earnings and the google news was fantastic, we on both microsoft the 12 best ideas portfolio. we're very pleased with what they deliver, we think were just getting started early innings in the a.i. race. maria: yesterday we saw the obvious slowdown that you're referring to, we had gdp at 1.6%, compare that to the quarter before at two plus% in the quarter befor

one of the one where do we currently stand with our media and mr laffer off. we've been getting conflicting reports for could you provide an example? and what else to in europe on for instance, they keep saying that we do not behave very well, say in the c s t o we, yes, that's what they say. they also say that they don't benefit from participating in the raising economic union. among other things, you know, facts are stubborn things. armenia is our ally still and now like most so use making them we, we to believe we're allies from the legal perspective and not only from the legal perspective. so i think there are still people in armenia who understands the importance of rush for the security and economic growth of their country, including their prime minister, who recently addressed the european parliament by saying if i'm not mistaken, that's relations between armine and russians are not going through the best of times, but they're important for our statehood sovereignty, security and economy cannot be overestimated. and of course, he also said that his coun

one of the one where do we currently stand with our media and mr laffer off, we've been getting conflicting reports. so could you provide an example of what else to in europe on for instance, they keep saying that we do not behave very well, say in the c s t o we yes, that's what they say. they also say that they don't benefit from participating in the raising economic union. among other things, you know, facts are stubborn things. armenia is our ally still and now law. ready most so usually can we, we still believe we are allies from the legal perspective and not only from the legal perspective. i think there are still people in armenia who understand the importance of rush for the security and economic growth of their country, including their prime minister, who recently addressed the european parliament by saying if i'm not mistaken, that's relations between armenia and russians are not going through the best of times, but they're important for our state hood sovereignty, security and economy cannot be overestimated to end of quarter. he also said that his country cherished the many posi

infuriating, the fact is that corporate revenue almost doubled since we cut corporate rate because of the laffer curve affect, and share as you have shown steve in news letter, share of taxes paid by top 1% has gone up not down, the idea to raise tax rates is incorrect, and inconsistent with the tax. larry: steve moore, fix the tax cut. >> i would love to. larry: you have 306s.seconds. >> i have best adviser steve forbes, ran on flat tax, our enemies could not come up with a tax system that makes less sense, this is a disgrace do u.s., how about this one, how about optional flat tax. you can either have the complicated system that no one can figure out, or you pay what is the rate. >> 17%. >> 17%. >> after 53 thousand of salary for a family of 4. >> and dediction f deduction for yourself and kids you pay 17%, i think post card return, i bet vast majority americans would go for that, rocket fuel for the economy, imagine a 17% tax rate biden wants it up at 50%, i want steve forbess tto be treasure secretary. larry: kevin hassett, how about starting with extending the trump tax cuts, they were cont

my partner, arthur laffer, jr., don't confuse data dependence with discipline.n a very undisciplined fed but more important than that, they are not factoring in fiscal spending into their model in any meaningful way. so with 10 trillion in cumulative deficit spending since the pandemic, we have a perfect source within our own country that is fanning the flames of inflation and continues to do so. so that's why you're seeing these crosscurrents of information. wages rolled over but the employment cost index was up. i thought that report was brilliant by the way. i think it was kelly gave it. breaking down the government jobs and wages versus private sector. but there are a lot of crosscurrents because people are not factoring in the impact of the spending and then the inflationary effects of reshoring and onshoring. so, i think we're going to be at this for a while but i do think things are weaker than the numbers show. that we will see a slowdown. charles: i agree. i agree the private sector, that eci number was extraordinarily weak or weaker on the private side

elizabeth: wait a second, he's starting to sound like art laffer, bernie sanders.nt? you know, have them go on forever in what do you think? >> i think what we should be doing is just remain competitive. make it so that people say, welsh you know, i can put more money into my business or i cans invest in america, or i can invest in something else including my stavings for my retirement. -- savings for my retirement. these are all good things. so raising taxes is great rhetoric when you're going into an election cycle, but is it pragmatic for the economy postelection? in my opinion, the answer is, no. we should actually start looking at policy like this in addition to energy policy or, foreign policy, border security policy but, no, that's not what we're doing. we're watching porn star trials in new york right now. elizabeth: got it. [laughter] that was a great way to close out that segment. whoo. that was a doozy. kevin o'leary, we love you. thank you so much for joining us. come back soon. >>> joining us now, we've got to get to this new development, former acting

now can the house do anything, you know, the kudlow catechism, the laffer catechism on supply-side tax least stir the pot, at least tickle just a little bit? i always thought lower taxes was a better idea than higher taxes, mr. speaker? >> yeah. you're trying to apply way too much common sense for washington. you know, larry, in the house republicans we have the smallest majority in u.s. history. one vote margin. we're using that because the republicans are 100% united on this idea. you lower the tax burden on the american people in order to spur on the economy, more investment, job growth and more economic opportunity, for more people. we've done that. we showed it. i came in when president trump did. you were in the administration, 2017. i got to congress the same year. wow, we did an extraordinary job. you helped engineer that. we had the greatest economy in the history of the world, larry, not just in the u.s. right before covid. everyone was doing better. why? we went back to basic principles and cut taxes and regulation, dramatically on that latter count. that is what allowed the

the fact corporate revenue has doubled since we cut the corporate rate because of the laffer curve effectshare of taxes paid by the top 1% has gone up, not down. this idea that you have to raise tax rates because of this incredible injustice to society. it is incorrect. it is inconsistent and it is a lie. larry: fix the tax code, steve moore, you have 30 second. >> i have the best advisor in the country to do that, steve forbes, who ran on the flat tax. look, our enemies couldn't come up with a tax system that makes less sense than what we have right now. it is a total disgrace to the human race. we could do much better. how about this one, steve and larry, kevin, how about an optional flat tax. you can have the complicated civil that nobody can figure out, or you pay, what was your rate? >> 17%, after $53,000 of salary for a family of four. >> you get deduction for yourself and your kids, right? >> yes. >> you pay 17%. i think you have the postrecovery return, i bet the vast majority of americans would go for that. that would be like rocket fuel for the economy. imagine we have a 17% tax

. >> yeah, i think overall on tax, there's the concept of the laffer curve, of course, that there's a you want to maximise revenues. you can't just keep dialling up tax because incent disincentive effects kick in and you actually end up putting up a rate and actually lowering your revenues because people have exited the workforce or whatever. i think we are now probably taxing the uk economy in aggregate to the max. you probably can't squeeze any more money out. so politicians have got to have an honest discussion about what expenditure is going to be cut . expenditure is going to be cut. >> politicians discussions are always on its mark. your cynicism shocks me anyway. that's all from me. up next is ben leo in for the inimitable patrick christys. ben, what are you going to be discussing this evening? >> hi, jacob. it's my last show tonight, so i promise i'm going tonight, so i promise i'm going to make it a cracker. should saint george's day be a bank holiday, nigel farage on his de—banking scandal. and the new us ambassador. i thought that was his job. and also mark francois is in t

. >> yeah, i think overall on tax, there's the concept of the laffer curve, of course, that there's aou want to maximise revenues. you can't just keep dialling up tax because incent disincentive effects kick in and you actually end up putting up a rate and actually lowering your revenues because people have exited the workforce or whatever. i think we are now probably taxing the uk economy in aggregate to the max. you probably can't squeeze any more money out. so politicians have got to have an honest discussion about what expenditure is going to be cut . expenditure is going to be cut. >> politicians discussions are always on its mark. your cynicism shocks me anyway. that's all from me. up next is ben leo in for the inimitable patrick christys. ben, what are you going to be discussing this evening? >> hi, jacob. it's my last show tonight, so i promise i'm going tonight, so i promise i'm going to make it a cracker. should saint george's day be a bank holiday, nigel farage on his de—banking scandal. and the new us ambassador. i thought that was his job. and also mark francois is in the

. >> what did you think of what happened to see if you guys know i'm an inappropriate laffer. i would myself under contract hi, but like my my smile is very ready is there a camera to i laugh, i laugh. >> i surprised the biden was so political against trump at would, they it's not now, when and he did say, i mean, maybe he would debate and maybe wouldn't news his way of doing so. >> i thought collin, joseph it's very funny. there was a moment in time. he talked about his grandfather bag or voter, or biden about decency, there was a very nice moment at that also the way that he and scar joe. oh, sorry, gods or hansler, how you all color star joe weight talked about their relationship and how she didn't want any privacy funny moment he also gave at stake. i was happy to the whole dessert tray macaroons you want to know heading players little legs from potts. >> i'm getting hungry, have been the best part of the dinner. let's be honest what we get your head the chicken, the fish. was there a snake? what was going on? >> a surfing there were two shrimp. i was told there'd be three

high-tax states is that arthur the laugher was right -- arkansas a enough laugher was right -- arthur laffer was right, there's nothing more portable in this world than money and rich people. when taxes reach a certain point, what happens to tax revenues? >> as you said is, people can move and move across borders, and that's something that we see when we look at state and local issues. >>ing and that's why we see high-tax states like california, the more they raise their taxes, the more their that tax revenues go down. in fact, when the trump tax cuts took effect, the projection was that they'd reduce total revenues, but our total revenues actually went up after the tax cuts. not down. so how do you explain that? >> no, that's right. the challenge of making that evaluation is that events subsequent to the tax act a, and we expected that to increase growth, it's just hard to distill the impact of the tax act from -- >> but in this case what we saw was taxes were cut, revenues went up. now, we're at about 17.5% of gdp on our revenues right now according to your report. now, isn't that about av

what did you think of what happened to see if you guys know i'm an inappropriate laffer i myself under like my my smile is very ready now. think in which is there a camera, but i laugh that last part surprised the biden was so political against trump at 190 days maybe he would debate or maybe wouldn't. it was his way of doing so. >> i thought colin jones was very if i may, there was a moment in time. >> he talked about his grandfather being a voter or biden about decency. there was a very nice moment at also the way that he in scarred ciao i'm sorry your hands, how you all color star joe wade talked about their relationship and now she didn't want any privacy come on up, draw it was very funny moment he also gave at stake, i was happy to the whole dessert tray macaroons and you want to know heading players from potts. >> i'm getting hungry. >> been the best part of the dinner. let's be honest. >> what get your head to check in the fish was there a snake? what was going it was supreme there were two shrimp i was told there'd be three. there were what you got jewish shrimp. i got no shri