Tags: kudlow | trump | taxes | fed

Kudlow: Economy 'Booming, Absolutely Booming' on Tax Day

By    |   Monday, 15 April 2019 10:04 AM

White House National Economic Council Director Larry Kudlow said Monday that while many people are complaining about having to write bigger checks to meet their annual Tax Day obligation, policies that were put into effect under President Donald Trump have meant improved prosperity.

"This business about the so-called SALT, state and local deductions, remember this tax bill a year ago pretty much removed the AMT, the alternative minimum tax, so under the old system, they wouldn't have gotten the deduction," Kudlow told Fox News' "Fox and Friends."

"Under the new system, many of the wealthy will, in fact, get a $10,000 deduction, so it is an odd paradigm."

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He called on businesses to look at their investment portfolios, as the economy is "booming, absolutely booming."

"Unemployment is down," said Kudlow. "Blue-collar wage earners are growing faster than the white-collar counterparts. Women re-entered the labor force. The profits are significant. There are some good things we can talk about." 

Kudlow also applauded the news that Goldman Sachs economists over the weekend predicted Trump would win re-election because of the strength of the economy.

"What a lovely thing especially from those guys who were pretty pessimistic about our tax cut plan and the economy," said Kudlow. "I'm very glad to hear it. It shows me the prosperity is really spreading to Goldman Sachs. Well-done, guys."

Kudlow also Monday defended Stephen Moore and Herman Cain as Trump's picks for the Federal Reserve, saying that unlike others in the Fed, they believe higher employment rates are good for the economy.

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White House National Economic Council Director Larry Kudlow said Monday that while many people are complaining about having to write bigger checks to meet their annual Tax Day obligation, policies that were put into effect under President Donald Trump have meant improved prosperity.
kudlow, trump, taxes, fed
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2019-04-15
Monday, 15 April 2019 10:04 AM
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