FOX Business host Larry Kudlow weighs in on the FBI’s raid of former President Donald Trump’s home on ‘Kudlow.’
Judge Bruce Reinhart today admitted the FBI’s raid on President Trump’s Mar-a-lago home was “unprecedented.” He rejected Merrick Garland’s attempt to keep the search warrant affidavit completely secret and under seal.
He cited the intense public and historical interest and he ordered the DOJ to propose redactions by this Thursday, but again, rejected DOJ attempts at total secrecy. Now, I’m not a lawyer and we will be talking to former Florida AG Pam Bondi in just a few moments, but I am especially interested to see if the Biden Administration’s legal logic in this outrageous Trump raid has anything remotely to do with January 6.
Personally, I continue to believe that this is not about presidential documents, but it is about desperate attempts by the Biden Administration to keep Donald Trump off the ballot in 2024.
A bunch of smart folks I know think this outrageous invasion virtually guarantees that the former president now will run for president in 2024, but I want to step back for a moment and look at an even bigger picture.
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President Donald Trump speaks at the White House (AP Photo/Evan Vucci, File / AP Newsroom)
It’s not only Biden’s attempt to keep the former president off the ballot in ’24. It is also a transparent effort by Biden to keep Trump’s highly successful policies off the ballot in ’24.
From Day 1, President Biden has reversed every successful Trump policy—large tax cuts and major deregulation that gave us the most prosperous economy in many generations, including historic low unemployment for Blacks, Hispanics, Asians and women—the biggest after tax, after inflation, wage increase for blue collar working folks all the way down to lower incomes.
In fact, under Trumpenomics, it was the lowest census quintiles that benefitted the most with the biggest pay hikes; significantly bigger tax savings than the top 1%. Tax avoidance fell sharply. Offshore money returned home to the U.S.
When combined with deregulation, with eight regulatory reductions for every increase, both large and small businesses prospered and hired as never before. These companies paid out huge bonuses to their workforce, kept prices rock bottom for their consumers and returned high dividends and share buybacks to pensioners, 401(k)s and IRAs.
What’s more, Trump’s deregulation opened the spigots for fossil fuels and renewables, both of which benefited mightily under his policies as America became energy dominant throughout the world.
Gas was $2 a gallon. Food prices were flat. Prescription and generic drug prices actually declined. Topline inflation remained under 2%. Supply-side incentives worked, just as they had under JFK and Reagan. This was free enterprise capitalism. Tax and regulatory barriers were lowered. It paid more after tax, after inflation, to work, invest and take risks. You know what? More people worked, invested and took risks. This was democratic capitalism, small “d.”
SEN. RICK SCOTT: TRUMP RAID SHOULD ‘SCARE THE LIVING DAYLIGHTS’ OUT OF EVERY AMERICAN
Former Florida Attorney General Pam Bondi reacts to the FBI’s raid on former President Donald Trump’s Mar-a-Lago home and the battle over the affidavit on ‘Kudlow.’
President Trump said, “We will reward success, not punish it.” Government intervention was minimized. Economic freedom was maximized. The “woke” socialists in the Biden administration, doing their best to reverse every one of these successful policies, have turned a boom that they inherited into an inflationary bust we have to live with today.
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President Donald Trump speaks in the East Room of the White House, early Wednesday, Nov. 4, 2020, in Washington. (AP Photo/Evan Vucci) (AP Photo/Evan Vucci / AP Newsroom)
That’s what socialism does. It impoverishes. It has in the past, it is again today and always will in the future.
In a free economy, with free people, with freedom under the constitution, we truly get life, liberty and the pursuit of happiness. It is literally these freedoms that President Biden and his crowd are trying to keep off the ballot this November and in November ’24. That is why the cavalry is coming. Americans love freedom and that’s my riff.
This article is adapted from Larry Kudlow’s opening commentary on the August 22, 2022, edition of “Kudlow.”
