art laffer, alas poor uric, art laffer, you're a educated man, shakespeare's grave digger, arthur, thats what biden-nomics is akin to, shakespeare's grave digger, alas poor uric. >> i do. he held the skull in his hands, larry. larry: i don't know if we have a picture of him holding the skull but shakespeare was a fantastic -- we'll get to steve moore who knew alas poor uric on first-name basis. here is what mr. trump said in philadelphia about deficits and the economy, take a listen to me. >> it was just announced budget deficit will be two trillion dollars, two trillion dollars. that is all of his green new scam stuff. making brutal inflation much worse than anybody ever imagined. i believe it is the worst inflation the country has ever had to stop biden-flation i will end crooked joe's wasteful spending and rapidly terminate the green new scam. larry: art laffer, i begin with you, modern monetary theory, what it is exactly, alas poor uric, grave diggers? >> they can go unlimited amounts of borrowing that the markets will tolerate it at low interest rates but the problem with modern mo

art laffer. alas poor youric, you are a edcata -- i don't know. >> i do. larry: good. >> he held the skull in his hands. >> okay we -- do we have a picture of him holding the skull, shakespeare was a fantastic, all right. we'll get to steve moore who new alas poor york on a first name basis, here is what mr. trump said in philadelphia about deficits on the economy. >> it was just announced that budget deficit is now expected to be 2 trillion dollars that is all of his grind new scam stuff -- green new scam stuff. brutal inflation is worse than anyone imagined, i believe it is the worst that country had, to stop bidenplati. larry: what is it, la. >> grave diggers. >> what they say is they can go unlimited amounts of borrowing the marketing the tolerate it. the problem is really very simple. you know if you use -- if you borrow 2%. and use the money to create economic growth and have yields of 5% you should borrow a lot, you are making profits and creating a better country like we did with reagan, when you borrow money, no matter what price and you use it to

do you read "the new york times" every day, art laffer, i ask you? after [laughter]. >> of course i do playerry, i read the french edition. i love it. i can't miss a page. paul krugman's column -- larry: i forgot. >> it surprises me, larry, during biden with all the illegal immigration that came in we had hyperinflation, 20% increase in prices. now they're saying that if you get them back, if you send those people back to their homelands, go back where they should be there, it will cause inflation. well i think it is just the reverse logic in fact if you look at it, when you talk about that, i don't know if you saw the manku quote, greg man cue's quote, drilling will have a little effect on lowering oil prices but, no it won't. it will have a huge effect on oil prices and have a huge effect on inflation. it is exactly what we need. the other one you said, when the tax cuts came in with kennedy and with reagan on the tax cuts and inflation, you missed harding and coolidge. harding and coolidge's tax cuts brought inflation way, way down. i could go on

do you read the "new york times" of day, art laffer i ask you. >> of course i do larry. i read the french edition of it, i love it. just i can't miss a page. paul. it surprises me that you know during biden with the illegal immigration, that came in, we had hyper inflation, 20% increase in prices. now they say if you get them back, send them back to their homelands, to where they should be it will cause inflation. i think it is the reverse logic. when you talk about, that i don't know if you saws greg manqu 's quote. drilling will have little affect on oil -- no, it won't, will have a huge affect on oil prices, and huge on inflation, this is what we need. the other one that he said tax cuts came in, you know, with kennedy and with reagan on the tax cuts and inflation you missed hardy and coolidge, they brought inflation way down. i could go on and on. i'll take all of david's time and he has more important stuff to say. but you know, "new york times" article embarrasses themselves today, on that thing, it is just reverse. just like they are criminal stuff, you know they

. >> mark laffer is right if you cut taxes you generate more tax revenue, i mean, look what funds are california this proposal makes absolutely no sense for washington d.c. looking at, lower tax revenues that are generated by the sale of properties. >> i mean jonathan you are talking about, the most sensitive areas of the economy, actually do lead to a sharper downturn why mess with housing market making it harder for people to pay bills in housing? >> it is truly remarkable, really sort of did democrats politics of resentment of people that are high earners and things like that never really works out to bring revenue they think. d.c. is having a real problem forfeiture bringing people into city everyone working from home, as a consequence, so many of the high earners moving out income tax rate so high you are going to even drive more people away they see a city provides no services that benefit them increasing high taxes a lose, lose, a they are trying to achieve won't get achieved they have a track record to look at other cities that have done this it failed why think it would succe

to cut rates relative to that big pool of revenue, they say it costs a lot more, we have a huge l laffert, and we take a away revenues it costs twice as much they are not adjusting expectations about dynamics affect of policy, they have bags over their heads. >> this is poor. >> biden will leave trump -- trump wins biden will leave him a 2 trillion dollar budget deficit. most unfortunate. it is two trillion as far as we can see, but point, that should -- that is a repa separate, that should not stop the tax cut. tax cut yield more prosperity, growth and more revenue. >> the last word. chairman brady, i want you back, real quick. >> we have got a great chairman and house republicans leading wait. locking in those lower rates, for businesses and families are important. to growth and small businesses. we know there will be a cost to it deficit is higher, that will be a factor in this, but as we have showed in 2017, you can lock in lower rates, you can make the reforms, that can be fiscally responsible, and grow prosperity in workers wages at the same time. larry: i'm sorry we're out of time

let's welcome nancy, the ceo and cio of laffer tangle or investments. think that we have to start with nvidia and the domination. what we were talking about with tom. you have a lot of second and third place players may be down the list that would like to catch up. how much of a headstart does nvidia really have and what does that mean for the rest of the market? nancy: thank you for having me. they, of course, are yards or miles ahead of their next competitors. that is reflected in the run-up of the stock price. i think that there are other opportunities around the edges in hardware and software that you can benefit from as an investor. i am interested to see what happens at wwdc for apple. that will be pivotal. with the chip names around nvidia broadcom, lam research, and even amd although they are behind. with air saying about demand. katie: absolutely. we think about in taiwan this week where a lot of news was made from these chip companies. also a big topic of conversation was the notion of a ipc's. if we think about the next exciting narrative, ai

one of the best in these choppy markets, tengler laffer cio nancy tengler.em. i'm not sure back in his days down 20%. how do you hang in there, what gives you confidence to hold these names even when they're getting hammered? >> wealth thanks for having me, charles. i got in this business in the mid 1980s hit pretty early on on block moaned when the the mak black monday, down 22%. i do not know what the market will do tomorrow but i do know what it will do the next three to five years. that is what investors have to hold on to. much hedge funds are driving these big moves, and they're doing it pretty consistently across the board. then they will get back n they will be back. you want to use the volatility they created add to your holdings in names on your buy list or names you want to add more to. charles: i was a broker for a year when black monday happened. i went to the bar and got drunk, you did better than me. talk about area getting shellacked. that is software, right? you say not only these names, not only should people look at them but for you they'r

let's welcome to the show laffer tengler investment's cio nancy tengler.you make of madison's report and the debate last night on inflation? [laughter] >> well, we all know the numbers don't lie, that inflation wasn't 1.4% -- was at 1.4% when president biden came into office. the profligate spending really sort of capped by the inflation reduction act fanned the flames of sort of growing inflation from all the a covid spending and then really, it really took off a then. so we know, every average a american knows that inflation has become a real problem under president biden's administration. elizabeth: so there's also this, there is that big deep state regulatory state, right, that is affecting americans' lives. the supreme court dealt a major blow to unelected bureaucrats, nancy, making the rules how we live. they just knocked out the longstanding chevron doctrine that basically says that the deep state, you know, bureaucrats can set the laws and rules about how we drive our cars, what appliances we buy, even lightbulbs. if they decide how america's econo

. >>> let's welcome to the show laffer tengler investment ceo and cio nancy tengler. so what the heck is going on with inflation? biden insists that it was temporary, transitory. it's been stuck above 3% now month to month for pretty much more than3 years straight. yes, it came in at 3.3%, a little lower than expected, it was expected to be 3.4. what exactly is the reason inflation keeps going up? why is the biden agenda inflationary and the trump agenda is not? >> well, that's a, that's a setup. that's a nice lob, liz, thank you very much. you know, i think it's interesting that president biden keeps insisting that inflation was at 99 % when he -- 9% when hing took office. it was at 1.4%. we were in a transitory mode until the federal government began spending trillions of dollars once we had already reopened, the vaccine was in place. so the inflation if reduction act really fanned the flames of inflation and continues to do so. if you look at deficit spending, i mean, we've spent $10 trillion post-covid, and interest expense because the treasury is funding the do d

think about it we had the huge laffer curve effect. we doubled revenues.way the tax cuts they say it costs twice as much, like, it's in the data that it doubled but they're not in any way adjusting their expectations about dynamic effects of policy. it shows these people have bags over their heads. just makes no sense. larry: you're so right. kevin brady, we'll have to fight this. biden is, biden is going to leave trump, trump if he wins, biden will leave him a two trillion dollar budget deficit. that is most unfortunate. it is two trillion as far as the eye can see, but the point, that is separate problem. that should not stop the tax cut. the tax cuts will yield more prosperity, more growth and more revenues. i will give you the last word, cheryl chairman brady. i want you back as the chairman of ways and means committee. real quick. >> we have a great chairman. the house republicans leading the way, preparing for tax reform. so locking in those lower rates especially for businesses and families are so important to grow and small businesses as well. look

nancy tengler co, laffer-tengler investments. edward lawrence welcome to being onset.we're spending and borrowing like crazy. this is the congressional budget office. they just upped it by $400 billion. i notice even debt in the hands of the public, okay, is now looking at over $50 trillion and, what is it, 122% of gdp. what do you make of all of that? >> then you have janet yellen treasury funding the debt at the short end, the most expensive end of the curve. interest expense is also going up. the cbo, again, 870 billion is their estimate for this year. which means it will be over a trillion. that is just servicing the debt. so far surpasses the defense budget. and it's, as you say there is no end in sight because we haven't spent half the money that's been appropriated and the irony, remember the inflation reduction act was scored by the cbo to be deficit reducing. larry: that will be plus, over a trillion dollars. >> yeah. larry: you know, edward lawrence, nancy tengler makes a very good point, they scored inflation reduction act all wrong. it has been subsequently

i want to bring in laffer-tengler ceo, cio nancy tengler.ooks like clear skies for the taborer seeable future how but how cautious should investors be. >> we don't own it. that is expensive for our metrics. i'm waiting for the hedges go to the hamptons for the summer, let all the air out of it. you should not chase it on these days where it continues to run. just remember amazon, it is up 189,000% since the ipo so -- charles: there were long stretches where it did nothing. >> exactly. charles: beginning not long after the ipo i remember it drifted lower and lower for a while. then it started to take off. the whole thing, they're not profitable. that was the argument for years. no one bought the stock. no one on the street bought it because it was unprofitable. we've seen this movie before but to your point picking spots. charles: yeah. >> i want to ask you something not necessarily scripted, this is some of the work jack had done. you're very astute what happens around the world and you understand geopolitics. one of the things i'm talking a

, economist arthur laffer, summarised, sometimes if you keep cranking that tax rate up, your returns to emigration get too high. >> that's right. we are at or close to our taxable limit now, certainly in certain areas . and certainly in certain areas. and you know, if you look at what happened when george osborne increased the corporation tax rate and actually it led to lower revenues pouring into the treasury coffers, you can see our laffer curve in action, and we live in a very globalised economy now where money is extremely mobile. people can vote with their feet if they feel as though the system is not working for them. and i just make another point , which is it make another point, which is it isn't just simply the higher rates of tax that we're expecting people to pay, but it's the narrative that accompanies it that i think is so damaging. we have moved away from a position in this country where we celebrate wealth and we celebrate success, and we remember that often that wealth and that success is acquired by creating businesses, creating products that people want to buy, crea

check the laffer curve out . curve out. >> oh all right. >> oh all right. >> on that bombshell lee.ch. lee anderson. reform uk right. look coming up keir starmer speaks exclusively to gb news after saying that he wouldn't under any circumstances use private healthcare. >> i wouldn't use anything other than the nhs . than the nhs. >> oh, that was brief wasn't it? but next met chief sir mark rowley makes a shocking admission. apparently the first thought of the police officers who tackled a man who allegedly killed a 14 year old boy in hainault was. are we going to be investigated for how it was dean investigated for how it was dealt with? yes, you heard that right. not actually solving that alleged crime or trying to stop it from taking place. so our police officers, now more scared of the public than the other way around. norman brennan is right at the heart of this issue. he joins me live. how are our police have actually been dragged before the courts welcome back to patrick christys tonight. coming up after he said that he'd never use private health care . has sir keir health car

the reality has been art laffer ras proven correct by tcja or what we call the trump tax rates.deral treasury took a record percentage of that increased economic growth. so if you just look at the basic statistics that come from the bureau of labor statistics about economic growth, if you go to the treasury and ask them wham percentage of revenue are you getting from the economy? you are getting record 20% of an increased economy under donald trump's tax policy. as far as i'm concerned that's basic math. that is a winning strategy for america. so the democrats were proven completely wrong, which is why they've mostly been quiet about the trump tax policy until very recently, because now we have a presidential election. they want to the play politics, of course. >> do you have a, sort of a prognosis for what we see in ten days at the debate? congressman? >> well, i think what you're going to see is a very contrasting view of the current state of america. i mean, surprise, surprise. they're going to disagree about the current state, but i think what you'll see from president trump

i think he might be better just to own the fact that he isn't a laffer and a joker and just say, lookt's not my role here. my role is to, yeah, take charge of the country and be very serious and get the job done. and i'm not here to be a comedian. i mean, also, i mean, it is a it is unfair to just to push and push him on things like, well it will council tax rate be raised at all over the next five years. >> you know what. and quite rightly said something, you know, fuel duty, you know he's not going to be raised at all over the next five years. well of course you can't answer that. of course you can't answer that. it's unrealistic, but he he could have answered it better. and just made it clearer. and, i don't know, it was just a mess . don't know, it was just a mess. >> i thought you weren't impressed. >> not impressed at all. anyway, i'd love to know what you think about all of that. gbnews.com/yoursay they did go head to head last night. as i say, the battle for the keys to downing street. >> well, the leader of the oppositions, keir starmer, was held to account over tax rises in