Laffer, Steve Forbes, Twitter discussed on Mark Simone

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Of the new seven W. well one of the great economists in the world the three best economists Steve Moore Larry Kudlow art Laffer because Steve Forbes in there too but the they've written a book it's a wonderful book called trump anonymous you should read it also you can follows the more on Twitter or of the heritage foundation Stephen Moore how you doing Hey mark I'm doing great and and more importantly the American economy is doing great thanks to come but I mix yeah I know you and Larry Kudlow and art Laffer advise the present I think you may have caused this impeachment it's only because of the strong economy the Democrats out see no chance of beating him and that's why they're trying this nonsense I completely agree with that I think the American people kind of get that that they can't beat him up about ballot box so that you know first it was the Russia pro but the how long that go out for a year and a half and that lead nowhere and now they're out this impeachment and I think it's two things number one you know they can't they can't beat him at the ballot box but number two this is a distraction it's the a diversion tactic by the Democrats and I think it's you know probably pretty smart of them because the last thing that they want to talk about right now is an economy that you know has the lowest unemployment rate lowest interest rates the lowest mortgage rates and and lowest inflation in fifty years in the biggest wage gains in twenty years I mean this has almost nothing to complain about with this economy we're seeing it by the way mark you know in spades with respect to what's happening with these consumer spending numbers over that you know over the Black Friday weekend we're just a blow out to be worse I think mark as they have more yeah you know because it's only three times in the modern history where we've had a president out after one term Ford Carter bush senior and they all had the same thing in common bad economy so with the biggest best economy history there's no way to knock this guy out after one term it's not going to happen it's interesting you know because if you look at the polls you know they said they'd pay a you know a fifty fifty race but you know it's interesting because if you look at the betting markets you can actually I don't know if you're aware of this park you can actually bat yeah I was going to win the election that's what people actually you know put their money down you know so that's a much more accurate gauge of what's likely to happen than just you know calling up someone on the phone and saying what do you think it's got a wonderful year about four and knows better tools which are significant in a lot of money is being traded on us and they tend to be much more accurate than the public opinion polling they have trumpet about sixty five percent chance of winning right now so that you know like a lot can happen in one year obviously but you know right now trump is looking pretty good not withstanding the fact that the media beats him up every day and once the last time you read a story about the you know the great economy that trump is created by the way we're gonna probably get the soft number on jobs tomorrow I'm not gonna you know we after the blockbuster number we got last you know month it's gonna probably be you know a lot of work I probably because you know businesses are literally running out of out of workers just read the front page of The Washington I mean the Wall Street yeah Hey and yet so I predict you know what yeah yes there is a recession is right around the corner because we didn't get another blockbuster jobs report and you know that so the only time they ever want to talk about the economy is when there's any you know all my gosh a recession we're going up a quest and the ladies gentlemen do not believe that we you know it's maybe just temporary pause and and hiring but all the other signals are sold strong I mean especially how much people are our shopping and I'm wanting to I mean the online is is yeah you know like eighteen to twenty percent this year hi this Christmas season you know when you talk about how much you increased jobs lowest unemployment years that should have been a big asterisk on it because that's at a time where jobs are being a limited like crazy by automation and digital and robotics so that's an even more amazing feat the you guys pulled off it is and what we're seeing here and so interesting how the new economy is changing the kinds of jobs out you know we're seeing like she you know is a laying off some of their auto workers but at the same time out Amazon just announced a couple days ago they're hiring a hundred thousand people at the small city a hundred thousand people you know to do all the delivery and all the packaging that's necessary for the yeah I don't know are you are you have about shoppers every day yeah well they're they're I don't like the new economy so you know that that we're not running out of jobs in the country were running out of workers we need all hands on deck we need everybody work it out they are still in the job because they're seven million of them seven million I after all America that somebody jobs open there are all right I took its reelected easily the present gets reelected when you guys got planned for a tax cut two point no our by the way I I don't want to I don't want to get overconfident problem that Hillary Clinton yeah well let's say he gets reelected the out of the bag yet brutal reelection actually I think it's going to be you know a dog by right yeah but in terms of the but I do think truffle when and then of course yup tax cuts to point out I like the idea of one of the ideas I'm catching to learn about the president yeah when you think about this one are all unlimited cat three savings for middle class people so let's say up to an income of five hundred fifty to two hundred thousand dollars if you put ten or fifteen thousand dollars into a savings account you know either in Iran I thank you know you've got to put that money and without paying income tax on it manually pay tax you know when you take the money out because we do not encourage people to save more and and you know become less by the way is a great way to make people less reliant on government right if they have their private pools of saving white caps state brings twice one of the reasons people don't say right now is because you know you pay your income tax and then you put your money in a savings account that if you have a capital gains are interesting come you pay tax on that deal so we double tax people out there being spent I called the universal savings account for middle class people I think people love that idea I would courage them you know the problem with our tax code we caption virtue it and when you know we subsidize bites yeah this is a way of of you know take up virtue which is a bit so what do you think I think it's a great idea to make sense since anybody you put into a savings thing is already been taxed when you earned it so the compromise most likely will be to take capital gains tax down to ten percent well I'd love that all right now we we also want to look at another idea that we are looking at is is providing you know what's called rollover guy capital gains and that would be and let's say you mark on you know several hundred shares of that General Electric stock and you will you want to sell it because you think Hey I think I got a better opportunity with eBay or another you know a technology company so let's say you've got you know five thousand dollars of games on selling your she stopped but you're just gonna take those games and buy another stop with that why should you have to pick up again on that all you're doing is trading a one stop for another one and so we call that automatic rollover it encourages people put more liquidity in the market provides by the way new capital for start up companies because people get you know get adult company's name about the new one so weapon what you think about that I love Zack now you're well you know for years if you're in New York if you sold your house as long as you meet we bought a new house you don't have to pay the tax there you go it's the same kind of concept and by the way that you know good you but you would pick up again that's when you finally cash out but the idea is that you know it it would allow you to keep you know keep turning of your stock and by the way there's something called a lock in a fax from the capital gains tax that the people like our laughter and others but talk about for years which is when you have a high capital gains that's like we have today what do people do mark they don't sell their stock and they don't buy news yeah and so so this would be a way of providing more efficient capital market would help small business does not help the little guy investor Steve Moore excellent work Hey we only have a thirty seconds China where do we stand there gosh you know what it's like this is like pulling wisdom teeth with a shiny semi getting them to get make a deal I think it's going to get done but you know I won't believe it that you know we're on the stage one which is kind of attack of troops so the Chinese better come to the bargaining table and can make a deal with proper out there to get hammered with another round of terrorists and I hope that doesn't happen I hope we can deal all right if you want to read a great book get the book trump Namik Stephen Moore let Larry Kudlow art Laffer it's the best book on all of this trumpet not mixing course you can read the Steve Morse Collins heritage foundation follow him on Twitter Steve Moore thanks for being with us if your market congrats on being number one in your time slot in New York New York that is so cool thanks thanks for this economy we love it it is more on our special holiday week show coming up in just a moment on seven ten W. O. R. with the holiday season upon us the New Jersey transit police department remind you that we all need to work together to keep our transit systems safe your attention is our most valuable asset if you ride the.

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