Tag: larry kudlow

Trump economic adviser Larry Kudlow praised Rep. Alexandria Ocasio-Cortez for her questions to Federal Reserve Chairman Jerome Powell. #FoxNews FOX News operates the FOX News Channel (FNC), FOX Business Network (FBN), FOX News Radio, FOX News Headlines 24/7, FOXNews.com and…

The president is hoping to make his economic record a cornerstone of his re-election campaign, but is a bond market recession coming? White House economic adviser Larry Kudlow reacts on 'Journal Editorial Report.' FOX News operates the FOX News Channel…

(WASHINGTON) — Two leading Senate Republicans on Sunday threatened tough punitive action by Congress against Saudi Arabia, including a possible halt of military sales, if missing journalist Jamal Khashoggi was indeed killed inside the Saudi consulate in Istanbul. “I don’t think any of our government officials should be going and pretending it’s business as usual until we know what’s happened here,” said Rubio, R-Fla. White House economic adviser Larry Kudlow declined to speculate on what Trump might do, citing a “swift and transparent investigation” in the coming week. He also brushed aside the apparent threats from the oil-rich kingdom of economic retaliation if the U.S. were to impose strict measures and said Mnuchin intends to attend the Saudi conference to address terrorist financing. “The United States is the dominant energy player so we’re in pretty good shape, in my opinion, with our energy boom to cover any shortfalls. We’ll wait and see, but rest assured that when the president says we will take actions if we find out bad outcomes, he means it.” Trump pledged unspecified “severe punishment” in a “60 Minutes” interview airing Sunday should the U.S. determine Saudi involvement in the disappearance of Khashoggi, who had written columns critical of Saudi Crown Prince Mohammed bin Salman. But Trump has said he does not want to halt a proposed $110 billion arms sale to Saudi Arabia because, he maintained, it would harm U.S. manufacturers. “There’s not enough money in the world for us to buy back our credibility on human rights if we do not move forward and take swift action,” Rubio said. Saudi Arabia is leading a coalition of Gulf states in a military campaign against Iranian-backed Houthi rebels in Yemen. “I do think that arms sales will be affected. Sen. Bob Corker, R-Tenn., who as chairman of the Senate Foreign Relations Committee has reviewed the U.S. intelligence into what happened to Khashoggi, has said, “The likelihood is he was killed on the day he walked into the consulate.” Turkish officials say that they fear Saudi agents killed and dismembered Khashoggi after he entered the consulate and that they have audio and video recordings of it.

Saudi Arabia says it will hit back at 'threats' over Jamal Khashoggi Read more Mnuchin’s wavering, which was reported by White House economic adviser Larry Kudlow, was part of an ambivalent response by the Trump administration to claims by Turkish officials that a team of Saudi assassins killed and dismembered Khashoggi. Media and tech companies including Uber, Virgin and Viacom have withdrawn in protest at Khashoggi’s alleged killing. Financial companies mostly have not. Kudlow told ABC’s This Week that Mnuchin would “make up his mind as the week progresses and as new information surfaces”. “Everybody in the world wanted that order. “I tell you what we don’t want to do. I don’t want to lose an order like that.” Khashoggi’s fiancee, Hatice Cengiz, said on Saturday – the reporter’s 60th birthday – she would not accept an invitation to the White House if the administration does not take meaningful action. “I believe the Trump administration will do something, the president has said that,” Rubio told CNN’s State of the Union. That I can tell you with 100% certainty, with almost full unanimity across the board, Republicans and Democrats, there will be a very strong congressional response if in fact the Saudis lured [Khashoggi] into that consulate, murdered him, cut up his body and disposed of it, there will be a very strong congressional response.” Rubio said Mnuchin should not attend the Riyadh conference. “I don’t think any of our government officials should be going and pretending it’s business as usual until we know what’s happening.” Trump has praised the Saudi regime for cracking down on opponents and his son-in-law, Jared Kushner, has personal ties to crown prince Mohammed bin Salman.

Obama complained in two recent speeches that he has not received adequate recognition for his contribution to the soaring economy, for which he claims credit. This is Obama’s fantasy land, because he has a total misunderstanding of basic economics. Obama reopened his assault on President Trump and congressional Republicans with a claim that tax cuts increase the deficit but that Republicans really don’t care about deficits and national debt. But as Larry Kudlow, President Trump’s chairman of the White House National Economic Council, reported on CBS’s “Face the Nation” last month, “Even the [latest] CBO numbers show now that the entire $1.5 trillion is virtually paid for by higher revenues and better nominal GDP.” Many people have trouble understanding the relationship between tax policy and the economy, and the economy’s effect on tax revenues resulting from differing tax policies. Today, the economy is booming in response to the 2017 tax reform, and the resulting effect on tax revenues is so strong that even state and local tax revenues are increasing. Similarly, when Reagan entered office in 1981, he led Congress to enact across-the-board tax cuts of 25 percent and, in the 1986 tax reform, replaced the entire federal income tax structure with just two rates — 28 percent and 15 percent. Even with those sweeping tax cuts, federal tax revenues during Reagan’s presidency actually doubled because of the booming growth resulting from such tax liberation. As former senior congressional staffer Mike Solon reported in Real Clear Politics on Aug. 5, CBO’s April 2018 Budget and Economic Outlook stated (page 94) that 10-year federal tax revenue estimates had risen by $1.008 trillion “for economic reasons.” Solon said, “This is the largest jump in revenues ‘for economic reasons’ ever reported by CBO and results from, in CBO’s words, their ‘current projections suggest[ing] a stronger economic outlook than those that the agency published in June 2017.’” In June 2017, just the anticipation of Trump’s tax cuts led to increased investment and growth, producing $195 billion in new revenues “for economic reasons.” With further revenues and increased growth by April 2018, the total resulting revenue increase was $1.238 trillion, offsetting 88 percent of the originally projected $1.456 trillion revenue loss, or virtually all of it. By Obama’s last year (2016), CBO’s 10-year projected revenue loss from his 2013 tax increase had ballooned to $3.1 trillion, almost five times his supposed tax increase, which only further increased the deficit. The Trump/Republican tax reform is not significantly increasing the deficit, but rather producing growth that is paying for the tax cuts, just as Reagan’s and Kennedy’s did.

Written by Elaine Godfrey (@elainejgodfrey), Madeleine Carlisle (@maddiecarlisle2), and Olivia Paschal (@oliviacpaschal) Today in 5 Lines White House economic adviser Larry Kudlow said the Trump administration is “taking a look” at imposing regulations on Google after the president accused the company of rigging its results. Google said in a statement its search engine is “not used to set a political agenda.” Puerto Rico Governor Ricardo Rossello raised the official death toll from Hurricane Maria from 64 to 2,975, following a new study by researchers at George Washington University’s Milken Institute School of Public Health. During a speech on the Senate floor, South Carolina Senator Lindsey Graham paid tribute to late Arizona Senator John McCain and encouraged Americans to “be more like” him. Officials from Canada, Mexico, and the U.S. met in Washington, D.C., for NAFTA talks. Roy Oliver, a white former Texas police officer, was found guilty in the death of Jordan Edwards, an unarmed black teenager. The Races We’re Watching Voters in Arizona and Florida are heading to the polls to pick nominees for Senate and gubernatorial races. In Arizona, Republican Representative Martha McSally—the establishment favorite running against two Trump-like candidates, Kelli Ward and former Maricopa County Sheriff Joe Arpaio—is currently favored to win the GOP nomination in the primary to replace Senator Jeff Flake. Meanwhile, Democrats expect Representative Kyrsten Sinema will win their party’s nomination, and prove a formidable challenger to the Republican pick.

Image WASHINGTON — The Trump administration is considering bypassing Congress to grant a $100 billion tax cut mainly to the wealthy, a legally tenuous maneuver that would cut capital gains taxation and fulfill a long-held ambition of many investors and conservatives. “We are studying that internally, and we are also studying the economic costs and the impact on growth.” Currently, capital gains taxes are determined by subtracting the original price of an asset from the price at which it was sold and taxing the difference, usually at 20 percent. It could also reinforce a liberal critique of Republican tax policy at a time when Republicans are struggling to sell middle-class voters on the benefits of the tax cuts that President Trump signed into law late last year. “Furthermore, Mr. Mnuchin thinks he can do it on his own, but everyone knows this must be done by legislation.” Capital gains taxes are overwhelmingly paid by high earners, and they were untouched in the $1.5 trillion tax law that Mr. Trump signed last year. “It would just be a very generous addition to the tax cuts they’ve already handed to the very wealthy,” said Alexandra Thornton, senior director of tax policy at the liberal Center for American Progress, “and it would play into the hands of their tax advisers, who would be well positioned to take advantage of the loopholes that were opened by it.” The decades-long push to change the taxation of investment income has spurred a legal debate over the original meaning of the word “cost” in the Revenue Act of 1918, and over the authority of the Treasury Department to interpret the word in regulations. Pushing Mr. Trump to make the change, Grover Norquist, the president of Americans for Tax Reform, has cited a 2002 Supreme Court decision in a case between Verizon Communications and the Federal Communications Commission that said regulators have leeway in defining “cost” to make the case that the Treasury Department can act alone. “This would be in terms of its economic impact over the next several years, and long term, similar in size as the last tax cut,” Mr. Norquist said, suggesting that making the change would raise revenue for the government by creating new economic efficiencies and faster growth. “It is unlikely, however, that a significant, or any, effect on economic growth would occur from a stand-alone indexing proposal,” the report said. Michael Graetz, a tax law professor at Columbia University who worked in the Treasury Department’s tax policy office when the department determined that taxing capital gains could not be changed by regulation, said he still thought that the decision to change the law should fall to Congress. “Treasury does not have the unilateral authority to take our tax code and expose it to widespread gamesmanship,” said Senator Ron Wyden of Oregon, the top Democrat on the Finance Committee.

Director of President Trump's National Economic Council says he believes U.S. economic growth will continue at a robust rate for 'quite a while.' FOX News Channel (FNC) is a 24-hour all-encompassing news service dedicated to delivering breaking news as well…

Director of the National Economic Council Larry Kudlow, appointed by President Trump is being treated for heart attack. #Tucker FOX News Channel (FNC) is a 24-hour all-encompassing news service dedicated to delivering breaking news as well as political and business…

President Donald Trump's top economic adviser Larry Kudlow says Trump pulled out of backing the G7 communique in reaction to Canadian Prime Minister Justin Trudeau's statement criticizing the United States.