DAVID: JUST WHAT I PREDICTED THE COSTS WOULD DO, THERE CAN ALMOST BE NO INFLATION BUT THERE CAN BE A SLOWING OF THE ECONOMY UNLESS MR. TOO LATE, A MAJOR LOSER, LOWERS INTEREST RATES NOW. HE WAS TALKING ABOUT JAY POWELL. JOINING US IS ART LAFFER, FORMER REAGAN ECONOMIST AND AUTHOR OF THE TRUMP ECONOMIC MIRACLE. ART, WONDERFUL TO SEE YOU.
I HAVE A QUESTION, IT’S A FOUR-PART QUESTION AND YOU CAN ONLY ANSWER ONE ANSWER OF THE FOUR DIFFERENT CHOICES AND >> TRADE WAR ARE THE ONES MOST INTERESTING IN AND >> GETTING TRADE AWARDS DONE AND IT’S REALLY IMPORTANT THAT HE GOSIEWSKI TO CHINA AS WELL AND DOES SOMETHING THERE. AT SOME STAGE. WE’VE GOT TO DEAL WITH CHINA AND MAKE IT A MUTUALLY BENEFICIAL TRADE PATTERN FOR CHAI THAT .
IF HE DOES THAT, THIS STOCK MARKET GOES UP 20,000 POINTS. THAT’S MY TAKE.
DAVID: PRESIDENT TRUMP STARTED THROWING THE BALLS AND THIS IS REALLY TOUGH. NOW THEY’RE SAYING THAT IF OTHER COUNTRIES MAKE A DEAL WITH US, THEY’RE CUT OUT FOR GOOD AND WHO IN THEIR RIGHT MIND WOULD GIVE UP THE UNITED STATES FOR TRADING WITH CHINA? >> NO ONE WOULD. NO ONE WOULD. THAT’S NOT THE WAY TO HANDLE IT.
CHINA HERE FOR 100 JEERS AND SO WILL WE. BETTER IT’S ONE OF PEACE AND MUTUAL BUSINESS DEALINGS NSAID OF WAR. MUCH BETTER THAT WE CAN’T ALLOW THEM TO STEAL PROPERTY RIGHTS AND DO OTHER THINGS AS WELL.
THAT’S ALL GOING TO BE HANDLED WITH NEGOTIATION AND DONALD TRUMP CAN DO THAT AND ONCE HE DOES THAT, IT IS GAME ON, YOU’LL SEE THE BIGGEST BOOM OF ALL TIME. WE NEED TO GET THE TAX BILL PASSED AND NEED TO DO POWELL, THE FED.
POWELL HAS TO GO AND DONALD TRUMP IS COMPLETELY CORRECT. PRESIDENT TRUMP IS CORRECT. INFLATION WITHOUT COMING DOWN SHOULD LEAD TO LOWER INTEREST RATES AND THAT’S VERY, VERY TRUE. AND IF THERE’S A PRICE RULE, GET THIS PLACE TO THE MOON. HE NEEDS TO DO THAT FAIRLY SOON.
THERE’S NOT A LOT OF TIME TO WASTE. DAVID: LET’S TALK ABOUT TAXES BECAUSE WE HAVE THIS STRANGE EMERGENCE FOR LACK OF A BETTER TERM, RHINOS AMONG THE REPUBLICAN PARTY SAYING TAX INCREASES IS THE BEST WAY TO DEAL WITH EVERYTHING RIGHT NOW. EVEN SENSIBLE FOLKS IN THE REMEMBER PARTY ARE GETTING A LITTLE WIGGLY THERE AND I WANT TO PLAY A SOUND BYTE FROM JASON SMITH, AHEAD OF TAX WRITING COMMITTEE, HOUSE WEIGHS AND MEANS AND GET YOUR AERODYNAMIC ACTION.
ROLL TAPE. >> THERE’S BEEN ZERO DISCUSSIONS ABOUT BEING RAISED.
WHAT’S BEEN DISCUSSED BY NEWS MEDIA, NOT WITHIN CONGRESS BUT BY NEWS MEDIA IS THAT THEY MIGHT INCREASE THE TOP TAX RATE. WE’RE LOOKING AT EVERY SINGLE TAX PROVISION. DAVID: THAT WAS THE WRONG — THE RIGHT ANSWER WOULD BE NO, WE’RE NOT GOING TO RAISE THE MARGINAL TAX RATE BECAUSE THAT KILLS GROWTH AND PEOPLE WON’T WORK THAT LITTLE EXTRA MILE JUST IN ORDER TO PAY MORE MONEY TO THE GOVERNMENT IN TAXES; RIGHT? >> I THOUGHT JASON WAS CAUTIOUS AND CAREFUL AND ONLY DISCUSSED IN THE MEDIA AND NO ONE ON THE COMMITTEE AND NO ONE IN CONGRESS TALKING ABOUT RAISING THE HIGHEST RATES.
HE REALLY SAID THAT AND SAID NO ONE IS TALKING ABOUT RAISING THE CORPORATE RATE EITHER.
THOSE TWO THINGS I BELIEVE IN TOTALLY. HE’S A PRETTY GOOD GUY AND CAUTIOUS AND DOESN’T WANT TO SPILL THE BEANS AND GET AHEAD OF HIMSELF. HOE AGREES WITH YOU JUST AHEAD. IT’S THE WRONG, WRONG THING TO CO. DAVID: WE’VE SEEN IT.
DON’T HAVE TO GO ANY FURTHER THAN READ MY LIPS. GEORGE .H BUSH. HE SAID I’M NOT GOING TO RAISE TAXES AND HE DID. OF COURSE HE DIDN’T LAST.
WE DID MAKE DEALS WITH CHINA BEFORE DONALD TRUMP, DONALD TRUMP DID.
THEY WERE VIOLATED AND VIOLATED SIX WAYS TO SUNDAY. WE CAN MAKE A DEAL WITH CHINA AND POSSIBLE AND WE’VE DONE IT BEFORE AND THEY’VE VIOLATED THOSE DEALS AND THAT’S REALLY THE PROBLEM. HOW DO YOU REALLY TELL THEM WITH SINCERITY THAT WE’RE NOT GOING TO MAKE ANOTHER PHONY DEAL FOR YOU AND ONLY GOING FOR A DEAL THAT’LL STICK. >> TRUMP CAN DO THAT AND IT’S XI AND NEED TO PAY FOR LIVE BY THE WORLD RULES AND NO ONE, NO ONE, NO ONE WANT AS WAR AND TRUMP HAS ALL SORTS OF OTHER THINGS ON HIS TABLE.
HE NEEDS TO GET PEACE AND HE NEEDS TO GET ECONOMIC GROWTH AND NEEDS THAT STOCK MARKET UP 20,000 POINTS, AND THAT HAS TO BE DONE REALLY QUICKLY. AND THAT HE CAN DO. I COULD TELL HIM THE EXACT ECONOMIC PLAN GOING TO GET THAT UP THERE RENEGOTIATE THE MIDDLE EAST AND GOING WITH CHINA AND VIS-A-VIS TAIWAN.
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