Larry Kudlow: Are You In or Out?

New York can be a tough place to be a Republican. On one hand we have guys like Rick Lazio and Ed Mangano – guys who see the mess New York is in, have the ideas to fix it, and even though it’s an uphill climb for any R in a deep blue state like New York, are willing to fight one voter at a time.

Then you have the “Hamlet on the Hudson” approach, where the candidate will toy with the idea of running, hint that they’re going to run, consider announcing that they’re going to run…and then let us down in the end. You know the names so I won’t mention them here (especially since that’s how I get myself in trouble), but let’s just say it’s led to much frustration and many cuss words.

The jury is still out as to which category CNBC’s Larry Kudlow falls, who is the only cat willing to run against current Sen. Chuck “Chuckles” Schumer, who is the most vulnerable he’s been during his entire tenure as Senator. And with editorials like these, I’m PRAYING that Kudlow falls into the former category…

The future of the U.S. economy — including jobs, growth and the stock market — hangs in the balance. Government-controlled health care, with Senate vote-purchasing and union special-interest loopholes, is not the answer. Nor is a $2 trillion tax hike on banks, multinational corporations, capital gains, inheritance and successful upper-income earners. Nor is a doubling of the publicly held federal debt to $19 trillion, or nearly 80 percent of gross domestic product. Nor is a federal spending ratio of 25 percent of the economy. Nor is a budget deficit at a 10 percent share of GDP for as far as the eye can see.

Again, Washington doesn’t get it. Politicians are delivering a fiscal product that no one in America wants. It’s no wonder small businesses aren’t hiring. Yes, there is a cyclical recovery going on, but it is incomplete without the jobs.

The so-called $85 billion jobs program is not a jobs program at all. It is a spending bill. Temporary tax credits to hire new workers have virtually no permanent job-creating effect. In budget terms, these kinds of temporary tax credits are scored as tax expenditures — i.e., spending. Only a permanent reduction in the marginal business tax rate has the incentive effect for long-run job creation. Reducing the business tax rate makes firms more profitable after-tax. And it gives them more cash flow. Those incentives will work to expand investment and jobs.

I highly recommend reading the entire piece, and go find a “Draft Kudlow” group on the Facebook.

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3 thoughts on “Larry Kudlow: Are You In or Out?”

  1. NY State needs someone like Larry Kudlow representing us in Congress. Should Larry run, my guess he’d win over Schumer – no question.

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