Sunday, January 7, 2018

Larry Kudlow: Steve Bannon's Policies Were 'Economic Nonsense, Illiteracy'

In the wake of the release of excerpts from the Michael Wolff book, "Fire and Fury: Inside the Trump White House," Larry Kudlow is blasting Steve Bannon who wa quoted in the book as being critical of President Trump's family.

 Kudlow said he thought former chief Trump strategist  Bannon offered financial advice to the President that was full of “economic nonsense and economic illiteracy.”

“Steve Bannon and I are friends. Treated me great. His policies always troubled me,” the former Ronald Reagan adviser told CNBC.

Bannon “wanted to raise tax rates on the most successful people in fact, He wanted the top rate to go from 39.6% to 44%,” said Kudlow.

“It's not personal, but on economic grounds alone, Bannon's self-immolation is good for the president, it is good for our country, it is good for the rest of the world," said Kudlow, who served as the Trump campaign's senior economic adviser.

"Bannon's ultranationalism would have been very damaging on foreign policy and, by the way, the president moved away from most of it, moderated on most of those issues," Kudlow explained.

Kudlow also said Bannon was very anti-trade. “Fierce protectionist, wanted tariffs everywhere, wanted no deal the anywhere. He was for the B.A.T. Tax, imports and so forth.”

“Bannon didn't have prosperity policies I'm glad he's out of commission for a while,” said Kudlow.

Kudlow is no Austrian but he is excellent on free trade and that's where Trump will need to be worked on in 2018. If Gary Cohn leaves the White House, Kudlow as national economic adviser would be nice.


(via NewsMax)

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