the great larry kudlow will join us. he probably won't talk lebron, but -- >> we could try him, though. the mist require chart is here. >>> and hands down, the most cringe worthy video of the day. e financial noise financial noise financial noise financial noise >>> lookie here. maybe its lebron james rally, maybe it's the janet yellen rally, maybe the summer friday rally, maybe it's not a rally at all, but the dow is up, still up eight points. we were down -- i'm not making a sear casic comment. i'm saying that's still quite a turnaround from the last couple sessions from the open to where we are toward the end. you're welcome. >> he's going to pay a lot more in taxes. you know that. zero income tax in florida and 5.5% income tax in ohio. >> we've been talking about lebron james. that was not a big enough win for cleveland. the republican national committee announcing earlier that cleveland will host the 2016 rnc convention. but right now there's a growing divide inside the republican party when it comes to big business

testifying in front of the committee will be our next two ges, our very own larry kudlow who is here on budget and policy priorities as well as a cnbc contributor. i'm going to start with you, larry. you said when you got here, you haven't been up testifying in about 20 years? >> at least -- well over a dozen years. well over a dozen years. >> and you are going to go there and you're going to tell them what? >> because kevin brady is a good friend of mine and chairman of the committee. i'm going to tell them that this is the worst recovery since world war ii. roughly half the pace of an order near recovery. that there are scattered signs of strength like nonform payrolls, but, but, but, but, temporary workers are exceeding full-time workers. people are still dropping out of the labor force. business investment virtually nonexistent in this recovery. that's a big job creator. why is this? tax rates are too high. you see another inversion story on the front page of "the wall street journal." in general, i would argue, my good friend jared will agree, he is a great friend of mine, none o

joined now by cnbc's own larry kudlow, who says yes. all right. tell us why. >> look, first of all, i think the chinese loan business is vastly overrated, we can talk about that later, a thought from former federal reserve vice chairman, i want to appreciate the currency and lower the ruble. he has a plan. use the exchange stabilization fund, esf, got a lot of money, we have use wassed it before in the past to deal with currenc s currencies, mostly to rescue currencies, we could control date a downward draft of the ruble, a significant reduction of the ruble, people would be selling rubles would once they see this get happening, the central bank have to jack up interest rates, the already weaker russian economy go into recession. the oligarchs and everyone else selling rubles. if you create a run on the ruble, in my opinion, and vice chairman dave williams, former chairman dave mullins said this, game over, set over. putin is left with nothing. >> how likely is that gonna happen? >> i want to put it on the table because i think it's snag should be

joining us now, cnbc senior contributor larry kudlow and dennis gartman of the gartman letter.u both. dennis, is art cashin right? >> first of all, i had the great pleasure of marinating a few ice cubes last week with art. and yes, art is right. the world is concerned that prosperity may break out. i think prosperity is, in fact, breaking out. port activity is up and that's a very good barometer of activity. tax receipts are up 7% to 8% on the year. a lot of things i'm looking at tell me the economy is doing nicely, thank you very much, and i think it's going to continue. yes, it is amusing and i think artists spot on, the market is worried that prosperity may break out, that interest rates may go up. they probably shall, but i don't think they're going to be detrimental to the stock market. >> and it's not just this market concern or the chatter of the pros, larry. it's a lot of theory tail public that has this sense of it being a castle built on sand or on air or something. what do you say about these concerns that it's all froth and speculation. do you think people will come

let's discuss this with cnbc senior contributor larry kudlow and labor notes director mark brenner. ry, why is it that people are calling this ruling, if upheld, a game-changer? >> well, this is going to be a very important ruling. let me just say, the parts you've got to focus on is 14,000 versus 1. the seiu labor union has been trying to organize the fast-food industry for years. they can't do 14,000 franchises. it's too expensive, too many resources. they can do one, though, walmart. if it's only walmart -- only mcdonald's in the head office, they can go after that. so, that's really at the bottom of this. the national labor relations board is a very pro-union board under this administration, and essentially, i think they're trying to break 30 years of franchise law and custom. they may get away with it or it may go to the supreme court. >> mark, what are the implications? >> well, the question we have to ask ourselves is who's the boss here? when mcdonald's corporate headquarters is setting the price ease, they're dictating how many buttons are on your shirt, they dictate how you

the stronger the dollar seems to get, and i'll use larry kudlow term.r returns, all right? then it's going to keep a lid on commodity prices. if king dollar is not there and turns into another one of those currencies we think might happen, then buck the your seat bells and be loan commodities, jack. >> have a agreed weekend. >> twister is not is there skepticism. we've got a lot of other tech topics, coming up. did you know a ten-second test could help your business avoid hours of delay caused by slow internet from the phone company? that's enough time to record a memo. idea for sales giveaway. return a call. sign a contract. pick a tie. take a break with mr. duck. practice up for the business trip. fly to florida. win an award. close a deal. hire an intern. and still have time to spare. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business. built for business. >>> three big tech names in the news today. let's dig deeper. roger, great to have you with us. i've got to start off with twitter. we'

larry kudlow. steve, congratulations on a great interview. thank you, both, for joining us.grubhub seeing big gains fresh off its ipo beating second quarter expectations. what has investors coming back for seconds? the ceo of that company joins us live for a first on cnbc interview coming up. >>> thousands of employees ra y rallying outside a supermarket today in support of an ousted ceo. we'll explain the upset at the new england retailer later on. "squawk on the street" right back. toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. bulldog: bulldog: oooh! mattress discounters' $197 mattress sale! television announcer: get a serta mattress, any size, for just $197 each piece when

larry kudlow might have said it best. baucus had a plan. david camp had a plan.worked many months, years for mr. camp. and we also had simpson-bowles, let's not forget. so there were plans. were any of them adopted? no. do we have an energy plan? no. here's the deal. we talked about the fire extinguisher. shs the no-plan option. but any parents out there raising kids realize that no decision is a decision. no plan is a conscious effort. that is a plan having no plan. and what happens when you have no plan? let's think about it. it becomes reactive. the solution always becomes money. and it's about optics and the media. when there is no plan and something happens, even if you're well aware, simpson-bowles wasn't put together because everything was hunky doory with taxes. there's a need when it comes to energy, all of the above, really? all of the above? hey, isn't coal all of the above? wasn't that a big positive in front of the election? but is it really? no. see, when you don't have a plan basically and you ignore it, you ignore, you ignore, the media loves p th

mark zandi, our own larry kudlow and kevin haslett senior fellow and director of economic policy studiese. what was served at the lunch with president obama yesterday? did you order -- did anyone order crow? >> i guess it could have been like one of those game of thrones wedding feasts. >> you're from the aei, aren't you? did you have your food tested first? >> no, no, it was delicious sea bass i think was what it was. >> would be easy just to get rid of all you types. what did you hear yesterday? anything? do you have a glimmer of hope for was it just mostly, you know, i don't know, what's the most famous socialist tomb in the world? did you hear more big government solutions for everything, kevin? >> well, i thought first he wasn't the satanic kenyan that you describe him to be all the time. >> i never had lunch there. it's only what i read. >> no, i thought it was a very collegial thing. one of the things i think i learned most is that president obama really is a college professor very much at heart. so being around all these nerdy economists he was having fun. the lunch ran pretty la

and one of the things he's making the point, airbus has a real edge if you don't let xm -- larry kudlowrtner saying the a corporate giveaway if you're a shareholder for boeing, it's a necessity, some people say, 19% of the business financed. >> shares of citi this morning. we've discussed it. the call has wrapped up. kayla tausche on that call. cfo provided little detail on the settlement with doj. they confirmed 3 billion tax deductible, 3 of the 7. geopolitical tensions eased in june that helped the markets. hits international equities due to ukraine and russia volatility. decreased exposure to russia and ukraine, have 30,000 people in compliance by the end of the year no update on mexico. >> 30,000 compliance. >> compliance increase paid for by cost cuts elsewhere. highlights from the call with reporters that the -- >> you'll see the paul weiss deal go down. it's funny, talking about apple bringing advertising in-house. i once made a joik ke how jpmor out to make a bid for paul weiss. they are my attorneys. when you see the big settlements, you also are able to get smaller legal fees

inversion heats up, joining us now with more reaction to what policymakers should do, if anything, larry kudlow frank lamente with americans for tax fairness. welcome to you both. larry, where do you stand on this issue? >> look, i think lew is completely wrong. his language is offensive. this business about patriotism is nonsense. what he just said, he said they don't pay taxes? the trouble is, we are not competitive. the trouble is, our tax rates are 35% to 40%. most of the rest of the world is 20% to 25%. shareholders, both retail and institutional, are putting pressure on companies to try to get a lower tax burden. where's the tax reform? he's had two years to do tax reform! the house is passing tax reform. the senate has bipartisanship on tax reform. and the white house won't touch it. we are driving american companies overseas! >> frank? >> i call these benedict arnold companies. they're really traitors to america. they've gotten all the benefits of operating here in america, educated workforce, customers, you've got walgreens, america's biggest drugstore chain, 25% of their sales come fr

when it comes to the corporate tax code, i'm an old anger with larry kudlow on this point for years,ne thing i agree on is that the u.s. corporate tax code is filled with many too many loopholes and expenditures. certainly cutting the rate, broadening the base is something i've signed up for a long time ago. >> jared, i'd also point out, there are companies that are actually bringing money back. they are repatriating some revenues. you look at ebay saying it's going to bring $9 billion over, goog google's talked about it organizele as well. what's the market incentive for these companies to bring money back and what ku can be broadened to have more companies follow suit? >> it's a great question. i don't think there's much incentive to bring money back, especially given that you can keep it overseas and avoid u.s. taxation. of course, inversion goes a step much further than that. that's where you reincorporate overseas. and i think that that's a much bigger deal in terms of what we're seeing now than the repatriation problem, which is a long-standing one. >> you know, harold, if we d

>> yeah, we talked about this on the show when larry kudlow had his show.ieve we should, in fact, that we should, in fact, change the taxes on the money abroad. i think we ought to lower the corporate tags rate and get rid of loopholes to pay for it and repatriate that money. >> do you agree with president obama trying to block them from leaving in the short term? >>. in the long look, it's popular, in the long run, exam goes where capital goes. they will figure out a way to do it. >> howard, there you go right there. >> there you go. >> you know i have a fis cam. >> if you can do it, facts are facts. >> the reason you are long, you ignore a lot of the facts. i don't ignore facts t. facts are capital goes where capital goes. sowhy. >> protect capital and take care of capital, and it'll take care of you. >> i didn't say take care of capital, but i said be realistic about the facts. capital goes where it goes. if you want capital in the country, you have to make it tax advantageous to invest in the country. >> it's bad when people make up facts and tell me i'

your guest larry kudlow is on here all the time talking about the importance of growth.him. we have to have a growth strategy here in the united states. and we do not have one. >> i don't disagree with you. we need corporate tax reform and you want to make this as attractive a place to do business as humanly possible. back in 2004, president bush passed legislation that prevented companies from doing effectively what we're talking about, inversions. people who back then were doing mergers. they were saying i'm going to pretend i don't live here anymore. going to set up a p.o. box in the cayman islands and that ended up happening. and we stopped that. because people decided unto itself was wrong. >> the president is talking about corporations being unpatriotic. they're trying to do business in a competitive way around the world. that is trying to change the culture in a bad way. that is a wrong way to be thinking about this. we need to reduce the corporate tax rate. corporations are patriotic. if they're succeeding, if they're hiring people, if their enterprises are succe