Larry Kudlow on Trump's Tax Plan: I Really Like It
Renowned economist Larry Kudlow Tuesday endorsed Donald Trump's tax plan, telling
Newsmax TV that it is "a pro-growth, supply-side" program that would grow the nation's long-slagging economy.
"I really like Trump's plan," the CNBC senior contributor told "The Steve Malzberg Show" in an interview. "One of the things I just love about it is the 15 percent corporate tax rate.
"Remember, China's is 25, so if you want to beat China, lower the corporate tax rate — and that's just what Donald Trump has done. And by the way, small businesses … would pay the same low 15 percent rate. That's one of the key features.
"And, by the way, cutting into corporate tax is huge for economic growth."
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Kudlow, who hosts his own syndicated radio show, has long championed a 15 percent corporate tax rate, but "I never thought I'd see a candidate do it.
"It'll give us a gigantic advantage. Bring capital and businesses to the U.S., make us the most hospitable place to invest — and that's what Donald Trump has done."
Republicans are currently split over whether to defund Planned Parenthood in the budget talks, even if it could lead to another federal government shutdown. The 16-day partial closing of the government in 2012 cost taxpayers $1.4 billion.
"Nobody likes, really loves, government shutdowns, including me," Kudlow told Malzberg. "I'm not proposing that we have five of them in a row.
"But I will say this, sometimes you have to make a statement, OK? You've got to make a point. You've got to tell people what your beliefs are.
"One of the problems here with the Republican grass-roots is that the base is very angry at the Washington leadership in the House and Senate because it hasn't done what it said it would do: namely, create a bunch of bills like tax reform and Obamacare and energy and immigration, put them on the president, and let him veto it.
"So, then, we go off to 2016," Kudlow added, and that "people, including myself, are frustrated."
He noted that the government has been shut down 18 times since 1976. "Many of them have been started by Democrats."
Regarding the sudden resignation of House Speaker John Boehner, Kudlow would not say whether Senate Majority Leader Mitch McConnell should be next to go, but told Malzberg:
"The House and Senate leadership should spend less time making deals and accommodating the Democrats and more time crafting a clear message and philosophy of beliefs and communicate that to the rest of the party.
"That's what has to happen."
He also clarified news reports that he was running for the Senate from Connecticut.
"I am continuing to explore a run in the Senate from Connecticut, absolutely exploring it," Kudlow said. "In fact, I would say exploring it intensely.
"There are a lot of moving pieces — and we're kind of going through that, and we're looking at the machinery — but I have not yet made a final decision."
