Hillary Economic Plan ‘Insanity Once More’: Kudlow
Supply-side economist Larry Kudlow has blasted Democrat presidential candidate Hillary Clinton’s economic plan as “insanity once more” in a new op-ed.
Noting the harsh reality that President Obama’s oft-hailed economic “recovery” never really got America out of the crash of 2008-2009, and is in fact showing signs of weakening, Kudlow writes Clinton plans to “deliver more stagnant growth, falling wages, dropping productivity, and depressed investment.”
“Her program would raise taxes on so-called rich people, corporations, capital gains, death, and stock transactions,” Kudlow notes. “She would spend massively on infrastructure and again mandate rules for private businesses. Remarkably, she has no corporate tax reform (even Obama had a plan) to revive corporate investment and boost productivity, wages, and living standards.
“Now here’s the question: By repeating Obama’s policies, how does she expect the economy to do any better than it did during Obama’s presidency?,” Kudlow asks. “She doesn’t.”
Clinton’s real agenda is not to improve the economy, Kudlow claims, but to impose “fairness” through higher taxes and government expansions.
Republican candidate Donald Trump, on the other hand, “wants to lower taxes across-the-board for individuals and large and small businesses, significantly reduce burdensome regulations, and unleash America’s energy resources” and usher in a corporate tax reform that “would restore America’s position as the most hospitable investment climate in the world” and be an incentive for businesses to bring jobs back home.
“The contrast between the two economic-policy strategies couldn’t be clearer,” Kudlow notes. “Clinton has a recession strategy. Trump has a recovery strategy.”
Kudlow also notes that the Kennedy and Reagan administrations, and even her own husband, Bill Clinton, successfully used tax incentives and welfare reform to grow the American economy.
“Plainly, Trump intends to reward success, while Clinton will punish it. She wants the government to run the economy. He believes in the growth engine of free enterprise,” Kudlow writes. “Trump understands that you can’t have good-paying jobs unless you have strong, healthy businesses. But if investors and businesses are harassed by overregulation and uncompetitive taxes, firms will stagnate or fail and jobs and wages will shrink.”
Kudlow, who is also a CNBC Senior Contributor, writes that if Trump does not win, “Americans will continue to suffer” with “more of the same bad policy and more of the same bad results – insanity.”