The Larry Kudlow Show on WABC radio, Saturday mornings from 10 AM to 1 PM, is one of the best business shows and related political shows of the week. Kudlow is a brilliant, time-tested economist, political analyst, commentator, interviewer and author.
Larry and his outstanding guests do not understand how people can vote for Hillary Clinton, a perpetual liar with a corrupt history. They say the polls indicate that informed voters do not trust her. Besides, Hillary advocates increasing US business taxes which are already the highest in the Western world. Larry and his guests say this will further inhibit business investment, growth and hiring, and aggravate our current business recession. Economic growth is less than 2% – a seriously deficient rate.
Donald Trump, on the other hand, is promising to cut business taxes – a time tested and proven method of stimulating the economy and producing jobs. John F. Kennedy did it – Ronald Reagan did it – even Bill Clinton did it – with positive results.
Kudlow related how Ireland had one of the worst economies in Europe with a 50% tax rate and serious unemployment before reducing its tax rate to 12.5%. As a result, Ireland now has the best economy in Europe and full employment. Similar tax cuts as promised by Donald Trump will do the same for the USA and working Americans.
Compare that to the USA: 4.9% is the unemployment rate for August. Looks good, right?
Employers added 151,000 workers in August. Again, sounds pretty good, right?
However, the labor participation rate was only 62.8%. 576,000 workers dropped out of the labor force, i.e., simply gave up looking for a job. Once they drop out they’re not counted in the unemployment rate. Thus the unemployment rate is really bogus.
This information comes from the bureau of labor statistics.
Clearly, the prosperity of any nation and its people is the result of its collective productivity, ingenuity, private economic investment, and the growth of its GDP – less the cost of government and nonproductive entitlements – as measured in non-inflated (constant) dollars. History has clearly demonstrated that a competitive, free-enterprise, free-market, work-ethic, entrepreneurial, low-tax, profit/surplus-motivated, constitutional, sky’s-the-limit economy – is the best way of producing prosperity and jobs for the greatest number.
If some of the polls are correct, they indicate American voters want another four years of the Obama administration. That’s what the election of Hillary Clinton will give us. That seems incredible to Larry Kudlow and to me!
I ask you – what has Obama done that’s worth perpetuating? Even African-Americans are worse off after eight years of Obama. Jobs are in decline. Black unemployment is at an all-time high. Immigration is out of control. Radical Islamic terrorism is spreading in the USA and around the world. The National debt is approaching $20 trillion; and government spending under Obama exceeded all other presidents combined! America’s reputation around the world has also declined. And after winning the war in Iraq, Obama has given it away to ISIS/ISIL.
The only thing I can conclude from the poll numbers is that a large number of Americans simply do not have an appropriate understanding of what’s been going on and/or of Hillary’s abhorrent history over the past 30 years.