So, joe biden thinks he is going to tax his way into prosperity, that is in his new budget but he is wrong, it never works, it never has and never will, neither will his massive spending and borrowing, art laffer and Byron Donalds will the damage. Senator katie britt will have something to say, and former Small Business ca cabinet officer Linda Mcmahon will tell us why the bidens hate Small Business and mark is simone and joe concha talking about how woke were the oscars, then tiktok should United States ban tiktok or perhaps a Chinese Communist takeover will come to an end . But first, here. Edward lawrence is live with all of the good news, congratulating joe biden, he followed through on his state of the union with it terrific budget proposal, edward. Reporter tax and spend. That is what he pitched and what were seeing, he wants to spend 7. 3 trillion in this budget, to pay, he plans large tax increases, across the board, they will bringb in 5. 5 trillion that was 403 million more than last year, still, leaving a deficit of 1. 8 trillion in 2025, the numbers dont add up, president plans to expanding Free Community college plan and expanding medicaid and hopes to bring back an Child Tax Credit and creating a child care and Development Grant to pay for lower know counc income families. There is not virtually a Single Program that joe biden wants to get rid of or cut, this is expand programs. The new Housing Initiatives and new welfare programs and more taxes on the top 1 . Reporter the president wants to epand medicare, increasing a special tax on families making over 400,000 a year to do, that Corporate Tax rate he wants to raise that to 28 . And and this is how President Biden is making argument for higher taxes. Across the board. By highlighting his cre adding a well tax on billionaires. If we just charge them, 25 , not highest rate, 25 . Do you know how much that would raise . Over next 10 years . 400 billion dollars. 40 billion a year. Imagine what we could do. From cutting the deficit to providing for child care, and providing for health care and opinion flow vide our military with what they need. Reporter and the budget is now to the congress, it has been submitted today, republicans see this size dead on arrival. Larry. Larry all right, edward lawrence. What a joyous presentation, we appreciate it. A couple thoughts from me, i want to congratulate joe biden, who continues to believe that he can tax the nation into prosperity. I say congrats, because the history of tax hikes shows that revenue increases never pan out. The economy is depressed. And investment falters, and that is not enough, you would eliminate emulating western europe which has been taxing itself into recession for decades, including right now. Not Big Government socialism, but it comes close, doesnt it . Im proud of you mr. President. You never miss a progressive beat, i dont want to ignore the spending increases in the budget. Now, mr. Biden flagged it in his bellicose. State of the union speech last week. But in todays my biden budget, it is true flu blues, right there raise Corporate Tax, let Foreign Government tack o fax our corporations and bring back book value tack thatt tax, raising top income tax, raise any number of investment taxes, go for the unconstitutional wealth tax own realized Capital Gains. Jack up the medicare tax. A lot of other tax goodies, roughly that is 6 trillion over next 10 years. You raise Corporate Taxes, you are hurting middle class working folks most that is what data shows, they will bear about 70 of the tax hike burden, and taxing other investment for Small Businesses who may top tax rate, all this, draining the animal spirits from the economy, curtails after tax returns to work investment and risk taking. And blunts the supply side of the economy, which means, higher taxes, plus the massive biden regulatory state, creates fiscal inflation pressures. Budget deficit will get worse, not better under all these tax hikes, and let it be known that revenues are not the problem. All right . Never have been they have been running steady at over 17 of gdp for years now, the problem is spending which is running over 24 of gdp. Much my irthan th the higher than average of past century, mr. Biden has increased spending and borrowing by at lef at least 6 billion in this budget he has roughly 3 trillion in new spending proposals, brand new. Child care, education, training, earned income tax, obamacare held subsidies. And mortgage credits for housing and other stuff that we dont yet know about. Woops, and student loan cancellations. Supremes have ruled unconstitutional, but mr. Biden, conditi cone grates for ignoring that as well. They will continue to run deficit 2 trillion a year as far as the a can see, you have a good chance of achieving 50 trillion in publicly hield federal debt over next 10 years that would come to about 120 of gdp in peacetime with less than 4 unemployment turning. I am proud of you mr. President. You are breaking all known rules of all known economic schools, except the progressive socialist school, but look at your economic polls in particular expoafer aand your overall polling performance in general that is not working that well for you. So, hate to say it sir, its time for change. I happen to know someone, down in south florida, who is jump chomping just chomping at the bit. And finally straight inamerica out, okay . Just a few thoughts, on my part. Joining me now, well have fun, afte art laffer, former reagan an economist. And florida congressman Byron Donalds, who knows a thing or two about this art, thank you for joining oure esteemed congressman Byron Donalds and thank you for joining esteemed art laffer, you have all of the across board tax hikes, very create i creative, not, you are looking at about 6 trillion in new taxes, a phony static revenue loss, art, is there an example in recent history in deeper history, whether where you can tax your way into prosperity where raising taxes on individuals on worker forth on investors on Capital Gains, on corporations, on every darn thing that moves . Is there example, you wrote a book about this, where is the evidence that shows you can tax your way to prosperity . Based on the evidence, larry on tax returns, every single time you raise tax rates on the rich, 3 things happened, number one revenues from the rich have fallen. Number two, the economy has under performed. And number three the biggest damage done is on the poor, the minorities and disenfranchised on the lowest echelon ladder, when you lower tax rates, the economy outperformed and poor benefit in this process, that is the truth for the u. S. , for the entire period of the u. S. Income tax, if luke at states look at states the states with highest tax rates are ush performing under performing those w lower tax rates. Those states that have adopted an income tax, since 1960, the 11 states they are biggest underperformers of all compared to rift. Look at countries across world, the example is clear, not only in u. S. , but in to states, and across countries this is contrary to everything that facts tell us. Now, Wishful Thinking that is all i heard on the state of the union, that is all there was, he is dead wrong to the tracks tax and tax and spending issues. Larry mr. Biden said he will end trickle down, that does not work, he said people dont pay their fair share, the wealthy dont. These are assertions he makes time again. Over the course of his presidency, now, in to its 4th year, he said it again at the state of the union it in the cold print of the budget that just came out today. What do you make of that . He will not listen, he will not listen or look at the evidence Byron Donalds. Well, i make of it is simple. The president s budget is a stupid, stupid document. It is not going to hospital american economy, not going to help the American People, let me add, if you are looking at the way here wants to raise taxes, who you will squeeze more are young people in our country, minorities in our country who are trying to find ways to build in generational wealth, to build equity and pass that on to next generates. Joe bidens think abo think about and his tax philosophy will kill, that not make it possible, and last point, joe biden likes to talk about people not paying their fair share. He needs to look no further than his own son, his son was evading taxes, he should talk to his son first, make sure his son pays up before he gets money out of the pockets of the rest of American People this attack of policy woul shreds an economy that is already weakening and on its back because of joe biden and radical democrat policy. Know, art, byron has a point about his kid. I love it, i love it. Larry a good point. Lord knows what his Tax Liability really. Is this stuff is tried in europe. Has been tried in south america, this tax the rich stuff. Actually, as i saw it, in some cases, i think with regard to Corporate Taxes and Capital Gains taxes, the u. S. Would have a higher tax rate than china, which strikes me as not a good idea. Since were competing with china. And the taxes dont you know, rich people dont pay their fair share, now you have done work on this. The rich people dont pay their fair share, what does that mean, i thought that numbers showed reverse this rich virtually half of the income tax system. They do pay half of the income taxes, i dont know what their fair share is according to joe biden, tol pop top 1 pays about 50 of all taxes. And if you look at what he talks about with Corporate Taxes, that is just we have a large tax rate reduction under donald trump, and if you look at it, it paid for itself within two years, for itself. It created lowest poverty levels for poor, minority, underet kateed, they had lowest on possible unemployment rates now he wants to raise it back up to 28 . Make us the probably highest corporate tack in the world. That would undo all of that. For the very grou he is professing to want to help, he will hurt those people the most. If luke at tacks wh taxes gordon brown in britain raised highest tax rate in britain tax revenues went down and britain went into a deep recession, and cameron has lowered it it improved. It is just classic everywhere the in world. In the u. S. Over history, it just does not work the way he says it does, no matter how wishful his thinking s Wishful Thinking is not a plan or a theory or a way photo success. Look a way to get success, look at facts and only facts that should drive the economic policy. Larry to Byron Donalds on the spending side. Biden saying he will raise taxes, by roughly 6 trillion dollars this will lower the budget deficit, history runs gain that you have less growth, more sheltering. Just putting that aside. This huge, government is running federal government, running 25 of gdp under biden, higher than 50 year average away higher. That you know, if you add state and local, you probably have the governments across the board, would be running nearly hatch of our National Half of or national income, but there is no effort to cut anything, that is it. 1ers o1 or 2 , pay fors. Why not. And i fear that even some of our republican friends have lost their goal, lost their enthusiasm for they may complain about the budget deficit, and the borrowing byron do donalds but no one wants to cut spending, this is it, just grow government as big as you want. You are right. This is a fever capitol hill it is spending other peoples money, it is not sudden it wil sustain an. First, we already talked about we raising 5 trillion in taxes we should take federal agency to precovid spending levels that would cut federal agency around 20 , a major step in right direction, it makes mo sense they are still spending as if covid19 is still going on, pandemic is over. You have to shrink the budgets. That is one, number two, if you did that, you actually get consistency on capitol hill. Because, if we made a strong push as republicans, im in favor of this to actually cut spending, the democrats are those who would shut down government, because they would never agree to the spending cuts, think about how insane of a logic that is, we say lets cut spending democrats would stomp their feet say no, we would never agree on what to spend and government will close, they will blame republicans because republicans want to be fiscally responsibility and you know secures border, and follow the law and follow the constitution. That is how reckless things are on capitol hill. And i stress to my republican colleagues. Our chairman and leadership weaker got to get the fiscal house in order, we should be cutting spending dramatically for 25 fiscal year if you have democrats who dont want to go along, we should not capitulate to their recklessness, because the country is what is suffering, and if country sufferers the American People are suffering even more. Larry you know it is is amazing byron. As a last point. You know what is amazing, he has spend 6 trillion or so new in his first three years, this budget bowl add another whatever 3 trillion or 4 trillion, i dont know all of the details, he is borrowed all this money, and he is proposing tax hikes on everyone. But byron, according to his polls, particularly on the economy, in general his performance, it has not done him a bit of good, like, the American People are wising up, to this tax and spend, and progressive socialist Big Government. It has not helped them, if it helped them, he would be at a 60 approval rating, and 80 on the economy. He has spent a bloody fortune and borrowed us to you know what, it has not helped him, i find that interesting, maybe that is only little ker kernell of optimism. The reality is that democrats are party of ally thes now ally thes n eliteses now, and they rely on well fair, all money they spend goes to favor democrat elites who are taking that money to make other money for themselves and drown the nation in massive debt, it is wrong, it is time for leadership on capitol hill and in white house in former donald trump. Larry yes, sir, i know someone in south florida is waiting to dying to get another quite out of that apple, that is what i hear. Art laffer thank you and Byron Donalds you are fabulous. Coming up, why are tax dollars, being used to fly in joe bidens Illegal Migrants . The Illegal Migrants not just undocumented, they are illegal. We will talk about that and some other matters, with senator katie britt of alabama when kudlow returns, you ican catch kudlow, monday through friday at 4 00 here on fox business. You will never miss a biden tax hike, ever, i promise, im kudlow, buy, buy, buy. Before you use ai to transform business, accelerate growth, predict trends, you need to begin with trust. Introducing watsonx governance. Helping you govern any ai, as data, models, and policies change, so you can scale it responsibly. Lets create ai that begins with trust, with watsonx governance. Ibm. Lets create. Larry all right, just coming up again like a bad penny, but true, why are tax dollars used to my in joe bidens illegal i immigrants. But government is not fesses up to how much, we bring in our friend alabama senator katie britt, this is a bad story. A lot of people commenting on it you have, Newt Gingrich just wrote it up in an oped piece, we look at this story last week, just keeps popping up. The bidens, they wont talk about it. Department of Homeland Security wont talk about it this is infuriating, what knows who these people are and their cred de den shalls. This is a disgrace. And it is more of the same, i will say this is why we need donald trump back in the white house immediately. He will stop these flights on day one. The fact that we have hard working americans, and every corner of this country, who are hurting, because of bidenomics, because. The economy, that joe biden has created. And yet he is taking time to use taxpayer dollars to facilitate the mass migration this is mind boggling it is a disgrace. Think about it, he takes them to a city of their choice, they are put up in hotels, given white glove service, we have hard working americans that are working to be able to put gas in their car and grocery on the table, saving up and looking at Mortgage Rates going through the roof, his prirohrty seems to be priority seems to be facilitating the illegal immigration. Larry i have to bring it up. White house is now lying about it President Biden would not talk to laken riley, would not talk to her parents, beautiful young woman, who was murdered by an illegal criminal. And then he cams back and he agrees with nancy pelosi, says, i was wrong to call them illegals they are undocumented. They say today he didnt say that, we fox has been running that tape of him saying it. This is just ads insult to injury, why doesnt he get wise . He has, as you know, executive authority to implement a couple of mandates passed by congress and signed by president s 20 years ago, he could end this fiasco, this scourge of crimes and drugs and sex traffics and stop murdering and killing of beautiful innocent young women, why doesnt he get rise. You nailed wise. You nailed it, this shows contrast in november. Right . You have President Trump, who embraced laken rea rileys family on the same day, that biden apologized to her killer. This is unacceptable, but i think that puts into focus what the American People are choosing between in november, choice is clear, the choice is President Trump, he left a road map for biden about how to put the American People first, and secures border, he could immediately put back in the remain in mexico policy, he should start to issue the final orders of removal and actually execute them. Getting people who are here illegally, out of our country, larry, there is a ton of stuff he could do, but he continues to put americans last. And he puts this facili facilitations of mass migration first and lak laken riley puts it in tragedy, and when he gets her name wrong he does not take the time to correct it and properly grief with her family, President Trump did, he a. But he apologized to her killer. Larry you were making the other night in your rebuttal to state of union, Kitchen Table points, i want to read to you, i call it the affordability crisis, under donald trump. Weekly wages adjusted for inflation, real weekly wages for average families from 366 bucks a week to 399. That is a 9. 2 increase. That is 9 pay raise under President Trump. Under biden sames me eurk has dropmeasure dropped from 399 to 380, a 4. 9 percent drop, i know people are getting on your case, i dont know why, from a kitchen stable stand point, people got a pay raise under trump, and a pay cut under biden. These are bureau of labor statistics numbers, you can get them, im not making them up. I have my own views about politics and policy, by the numbers are the numbers. They got a pay raise under trump and a pay cut under biden those are the facts. Bingo, you see Credit Card Debt is the highest in our nations history. It is over a trillion dollars, for the first time and these things matter, they are hitting hard working families, and they feel them around the kitchen cable, joe biden mentioned Kitchen Table issues, and in his rebuttal, in his actual speech. But, when we tried to bring that the place that family gathers, you know where we talk about these things that affect our dpailldaily lives, then liberals want to Say Something about it. Anyway, senator katie britt thank you so much i are so gracious we appreciate it. Appreciate being on. Larry coming up, next, former trump cabinet official Linda Mcmahon, will tell us why joe biden hates Small Business franchises, then mark simone and joe concha will talk about armed troops in new york subways. Firefighters booing Letitia James. And how woke were the oscars last night. Gee . Then after, that Congress Wants to boot out tiktok. Out of america. How will it play out and end. Well ask congressman kevin i am kudlow, this looks like an actual farm. It looks cute on the app. [farm animal sounds] meanwhile, at a vrbo. When other Vacation Rentals arent what theyre cracked up to be, try one where you know what youll get. Larry all right, my frien Linda Mcmahon writes in daily caller. She is joining us, welcome back to the show. Former trump head of Small BusinessAdministration Chair of the America First policy institute, thank you. Federal government can decide who and who cant . This is about franchising right . You put a stop to it trump put a stop to it, now like a bad penny it is coming up. We downed out it didnt found out that it didnt work well under the Obama Administration, the president does not realize a third of franchise businesses are owned by minorities, you put these rules into effect says if mother franchise, if you will mcdonalds, there is a small franchisee comes and starts a business, now that Small Business will be treated like an employee employer relationship. Which takes away the incentive of the Franchise Owner to be own marketing person and hire who they need to reach out in the community. And so, we found it just takes the air out of the balloon. The Franchise Owners who want to go out and be part of the companiry, peop the community, the most affected are women and minorities, thank goodness it was stop friday, a texas judge ruled it is too brode and had to be looked at gain, and the National Labor relation board will appeal it. But, this is really a bad rule. It just, costs Franchise Owners i think there were 366 thousand jobs lost, in the Obama Administration, and it is just a craze rule, we lost about 33 billion dollars per year from these franchises. Under the Obama Administration this is crazy. Larry didnt as i know they wanted to slap a dei, diversity, equity and inclusion requirement on Small Businesses to do business with the sba and others but some judge said that is that is unconstitutional, i think that also the case . Yeah, it is. If you take a look at what we did in sba under the trump administration, it was all comers, come in, if you qualify fo for a loan urge sba, we looked if you qualified with the banks who supported you in your line of, this particular rule that you just mentioned, this is under the commerce department, they are grants that go to Small Businesses. So, that is the other side of this coin, that the law the was lawsuit was brought by those who were not part of the minorities which were black americans, hispanics, Asian Pacific a laurens an passive islandives and et cetera, the white people said this is discriminatory against us to not get the grants, the judge ruled in their favor that was a good thing. I think that well see a lot more of these kinds of actions, all about the Biden Administration wants more control. Larry all right. Last one. Linda, part of the issue with franchise as i recall, if the headquarters is unionized, if they vote to unionize all of the franchisees have to be union they dont get to hold their own elections is that also part of the issue . I believe i am not sure if that is part of this particular issue. But that is one of the issues that has come up, it just makes all of these Franchise Owners now employees, under the big umbrella, they have said is they get less support from the big corporate franchis er than before. Linda mcmahon appreciate it. Thank you, larry good to see you. All right, folks. A couple things with the Boys National guard in new york city subways. Woke oscars. Oh, my gosh, we have mark system own, wor radio show host and joe concha, best selling author. Mark, new yorker . I dont know if you read. Is National Guard in the subways . Is that a good idea. A good idea for democrat they look for symbolic gestures rather than salving a problem solving a problem, National Guard has no authority in the subway they cant do anything, they are not trained for it they are great with floods and hurricanes, but what they will do, without authority they will search bags. And now, no criminal brings luggage with them. Has a brief case really . No criminal has a purse. Oh, my god. They will be victims down there, everyone in Police Deputy off record will tell you, the same 2800 criminals over and over, they keep getting let out, if you could just arrest them and get a dea da to keep them in jail. Larry that would be nice. I say just just do whal yet aga guliani did, 5 terms, you fill safe. On the subway or if you are walking home from a bar at 2 00 a. M. , because of policies they had, they enforced laws on the books, get rid of alvin braggs of the world, you for good shape, remember senator tom cotton in 2020 wrote a much ed for New York Times, wrote send in the troops for a new yo New York Times editor was fired for publishes that. It imploded. I know you are avid moviegoers, just a little sound from last nights oscars, we aflie applied a roi woke test. Shut down the oscars humanity wins. We stand here as men who refute jewishness and holocaust hijacked by an ope. I got a review. And has there been a worse host than jimmy kimmel at the oscars. Thank you, President Trump. Thank you for watching, im surprised you are still is at any time it past your jail time. Is there been a worse host . David letterman i think. But, kimmel looks brave reading that tweet, he didnt read the next couple sense attorneys how the lowest rat ratedded oscar shows, you can see why the aintwhatever they are out of touch with america. More or less woke than usual, joe . It was about what you would expect. Larry the same. Din watch much. I didnt watch up. Larry the great oscar winner, killian murphy, in a sense that is not a wake topic. A very serious topic about nuclear war. Absolutely, one of the most important events of our lifetime, we have to beat the nazis from getting a nuclear bomb that movie was 3 hours, a bit long, but wonderfully acted. Larry oppenheimer turned his back on far left and communist. In order to put through our nuclear bomb. Help us win the war. If ipted to watch msnbc i would have tuned them in, i watch the oscars i hear the speeches please a little escapism. Larry the cut of Letitia James getting booed . By the firefighters. [ booing ] oh, come on, were in a house of god. What do you make of that . Well, the fire commissioner said she was going to hunt down whoever booed, Alan Dershowitz said he will defend and launch a lawsuit, it is unconstitutional if you allow for applause you have to allow for boos, you can not deny that right. If you allow any reaction, you cannot go after peal f people for booing. Larry correct me if i am wrong, current fire commissioner is not a long time veteran of the fire department. First commissioner who had nothing to with fire department, a very nice woman, you on i am not making personaly but an odd story. This is a by and large Letitia James and the rest, dont like the cops. Do like alvin bragg, you have a fire commissioner there who many people say you would prefer someone with experience running the fire department. Actually putting out fires, and working your way up the chain. Letitia james should be disbarred. If this is true, she is targeting people for them exercising their First Amendment rights, she should begun. Larry i have to go. The end of it. You are great. Thank you. Tiktok up next, a difficult story im kudlow well be right back. Business. Its not a ninetofive proposition. Its all day and into the night. Its all the things that keep this world turning. Its the gotos that keep us going. The places we cheer. Trust. Hang out. And check in. They all choose the advanced Network Solutions and round the clock partnership from comcast business. Powering more businesses than anyone. Powering possibilities. J. P. Morgan Wealth Management knows its easy to get lost in investment research. Get help with j. P morgan personal advisors. Hey, david ready to get started . Work with advisors who create a plan with you, and help you find the right investments. So great getting to know you, lets take a look at your new investment plan. Ok, great this should have you moving in the right direction. Thanks jen. Get ongoing advice; and manage your investments in the chase mobile app. Larry all right, should congress try to boot tiktok out of america . And is it possible . Lets ask oklahoma congressman kevin hern, head of republican study committee, we appreciate it right now sentiment is strong. Do you want to try to get bytedance the chinese parent to divest itself of tiktok and turn tiktok to an American Company . Or do you just want to get rid of will wrote lo rid of the whole lot of them. Great question, you are right, we dont want tiktok to go away were just saying that communist china cannot own it we see what they are doing, gathering data through tiktok and through the ports and electric vehicles and southern border. And china is trying to come after us, gather all data they can, kipel that is a. I. Couple that with a. I. , imagine what harm they can know glican inflict on the u. S. It will not be easy to get bytedance to divest. It is a complicated matter, putting aside whether they would agree to it or not, i am sure you know it, i spoke with a leading candidate for president who is concerned that facebook or meta might buy tiktok and that would not be good either . Well, i certainly agree. As well as all republicans up here that i have talked to,a agree with President Trump, what facebook did in interfering with our election is not right were going after them, but were coupling and seeing what tiktok is duing through communist doing through communist china relationship they are collecting data involving our National Security and security of the data for our kids and businesses in future, we need to address this it was released today director of National Intelligence said that they believe that tiktok was going to interfere with the election coming up. We have the ability to do it, this a world today where everyone is so partisan you see this come out of Committee Going after tiktok to be i did 50 to zero they cape out of ene came out to get it done. Larry last one, vote on the house floor, then to the senate . Well, certainly the speaker will get this coming forward, i think that senate needs to address this quickly, this is an imminent threat to American Security going forward. Larry and you have all of this . Democrats do you think will hold up with their support . I do, i think when talk with them, they see what is going on 500 out of energy and Commerce Committee to the floor that say powerful statement to the senate. Larry all right, congressman kevin hern you are terrific, thank you, sir, appreciate Fisher Investments its easy to think that all Money Managers are pretty much the same, but at Fisher Investments were clearly different. other money manager different how . You sell High Commission investment products, right . 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