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Jack Kemp Tells the MoneyMan What Lincoln Would Say To McCain and the Republicans
SUGAR LAND--May 29, 2008--BizRadio's Daniel Frishberg and Dr. Arthur Laffer get an earful from former Congressman and Republican "pro-growth" advocate, Jack Kemp, as he reveals his take on how Abe would fix our current problems.
Jack Kemp: "It is up to the American electorate here in 2008 to decide between candidates, one party believes we are under-taxed and another party believes we're over-taxed. I'm from the Laffer school of the Abraham Lincoln party that believes that the Great Emancipator would today be talking about a flatter, fairer, lower tax rate on all factors of production, i.e., labor, capital, investment, savings, entrepreneurship. If a party, in this case Republican candidate John McCain, were to outline specific plans to lower the tax rates across the board and move towards a flatter tax in America, as Reagan did in 1980, I think he could whup up on the other party. The one that wants to raise the income tax to 52%, raise capital gains tax to ordinary income levels, raise the death tax to 55%. I agree with Art; where you campaign and trust the American electorate as a marketplace of ideas, this country can be turned in the right direction."
Like Dr. Laffer, Jack Kemp also works behind the scenes advising and educating the leaders. And he's not above calling them on the carpet when they stray from the Lincoln/Reagan/Laffer pro-growth, lower tax ideals.
Jack Kemp on who tarnished the Republican brand and how: "In my opinion, I think the leadership of the Republican party from the White House to the house to the senate have been more interested in getting re-elected than in pursuing policies alluded to by both Art Laffer and Jack Kemp and I would say, going back in history, the Reagan administration. They have voted for a farm bill that subsidizes corporate farming too. Eighty percent of all the farm subsidies go to corporate farms. That's ridiculous! They have not spoken out forcibly on the free trade agreement with Columbia and South Korea. When the Bush administration implemented a $170 billion rebate to stimulate the economy; both Art and I -- we didn't scream about it -- but we both opposed it because rebates reward past production, they do nothing to encourage and incentivize future production. We think a gas tax holiday is silly, it's not going to lower the price of gas, irrespective of who supports it, so I feel very confident that if the Republican party wants to pass a farm bill that subsidizes rich, corporate farmers and punishes third world farmers and their agricultural output in Africa and Latin America I will speak out against it."
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