Newsmax Finance Insider and renowned economist Larry Kudlow said Republican presidential candidate Donald Trump is like a stock price poised to rebound after plunging from lofty heights.
But Kudlow, an informal advisor to the Trump campaign and a CNBC senior contributor, said that the real-estate billionaire has to more forcefully pitch his economic and tax-cut plan to undecided voters.
"I wish he would sell it better," Kudlow said of Trump's overall economic plan, which he helped draft.
A political firestorm was sparked by a 2005 video obtained and released Friday by The Washington Post and NBC News. In the video, Trump, who was married to his current wife at the time, is heard describing attempts to have sex with a married woman. He also brags about women letting him kiss them and grab their genitals because he is famous.
Many important Republicans pulled their support of Trump and others called for him to pull out of the race.
Kudlow admitted he briefly had second thoughts over the weekend of continuing to back Trump in light of the sex-tape scandal.
"His campaign is like a stock looking for a bottom,” Kudlow told CNBC. “I think the campaign found a bottom. He will have some tomorrows. But he's still got a very difficult uphill climb," said Kudlow, who under President Ronald Reagan was the associate director for economics and planning, Office of Management and Budget, Executive Office of the President, where he was engaged in the development of the administration’s economic and budget policy.
“Let me make my case. I'm not political guy, but on the economy he pretty much got it out, at least the case that we've helped him with, OK,” Kudlow said. While Democratic rival Hillary Clinton’s strategy consists of raising taxes, “that's a recession scenario. He's cutting taxes, particularly business taxes, that's a prosperity scenario,” explained Kudlow, a former aide to President Ronald Reagan.
“He's just, to me, has to hammer that home more. Not once but several times during the debate, the stakes are very high. I myself am very concerned about our business tax on competitiveness. He needs to do a little selling,” he said, citing Reagan’s charismatic persuasiveness with the American public.
Trump vows to “cut tax rates for businesses, small businesses, individuals, so what does that do? A, it puts more money in your pocket. What Reagan used to say ‘take home pay,’ just more money in your pocket. B, you'll have more after tax that gives you incentives. Incentives to invest, maybe start a new family business, incentives to bring the money overseas back home,” Kudlow explained.
“We haven't had any investment in this country basically in 15 years. We haven't had any wage hikes basically in 15 years. Supply side economics is growth economics. And it also just helps the family. More money in your pocket,” Kudlow said. Trump rejected a growing backlash from Republican leaders nationwide who disavowed the GOP's presidential nominee after he was caught on tape bragging about predatory advances on women.
Kudlow admitted there were moments over the weekend when he doubted whether to continue to support Trump.
"The 'vile' tape, as I call it, is inexcusable," he said. "I was absolutely furious," he said. "I hope Mr. Trump gets his act together," he said. "But if he continues to drop into these rabbit holes, I'll write in Mr. Pence," referring to Trump's vice presidential running mate Indiana Gov. Mike Pence.
"I won't vote for Mrs. Clinton. I expect to vote for Mr. Trump," said Kudlow, author of "JFK and the Reagan Revolution: A Secret History of American Prosperity."
Pence declared he could neither condone nor defend Trump's remarks in a 2005 videotape that sparked panic inside Trump Tower and throughout the Republican Party with early voting already underway exactly one month before Election Day.
In a tweet on Sunday hours before the second presidential debate, Trump blasted party officials and candidates criticizing him as "self righteous hypocrites," who would go on to lose their elections.
Larry Kudlow is a senior contributor at CNBC. To read more of his work, CLICK HERE NOW. To find out more about Larry Kudlow and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate web page at www.creators.com
(Newsmax wire services contributed to this report).
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