#DAD09 - Larry Kudlow

Larry Kudlow - CNBC and CEO of Kudlow and Co.:

* wants to say things calmly but forcibly....

* we've been through the worst economic down time in a long time - one of the worst since WWII - recommend to you that the #1 domestic issue is going to be the economy, with the issue being how to get the high unemployment rate down/putting people back to work/restoring American prosperity and how that will restore our place in the world.

* Ronald Reagan taught me this many years ago when I was just a young kid...let us not lose sight in all the issues of big government just how important it is to grow the economy.

* if you go back 30+ years when conservatism was at a low ebb, the great rallying cry which resuscitated the rebirth was supply-side economics, which revived the world.

* while we have this socialistic action in Washington, this will pass if we are steadfast in our beliefs.

* when the libs take over Washington, they bomb...because conservatives, people who believe in free enterprise, liberty and growth, had good things to say.

* this is in defense of free-market capitalism - it's the best path to prosperity.

* doing a supply-side minute on his show to remind people of the principles that brought about not only the Reagan revolution, but the economic revolution that gave us three decades of growth.

* If you tax something more, you get less of it. If you tax something less, you get more of it.

* If you keep more of every dollar earned because the marginal tax rate on that dollar has been reduced, it creates a reward and incentive to do more of an action....gives the individuals in civil society - those who want to be left alone - the incentive and reward structure to do good.

* people working in business are not evil - people who get rewards from putting people to work are not evil - and this puts me at odds with people in Washington.

* Want to reinforce - at the end of the day, we have to put people back to work. Current unemployment rates are not good and all the government borrowing and spending - if it was going to work, it would have ... it hasn't worked because it's not going to.

* we need to revive the conversation about lowering marginal tax rates across the board for every single income tax bracket.

* we need to revive the conversation about lowering marginal tax rates for large and small businesses.

* we need to revive the conversation about stopping the double, triple taxation on savings, investments, capital gains and estates.

* we need to do a lot of things - fighting health care take over, overspending, cap-and-trade - but we need to revive the tax cutting story...

* if you tax less you'll get more of it - so reduce tax on employment, investment, etc...and you'll get more of it and restore our world supremacy.

* how do we get more health care? tax it less. I want more health care and less government control of it. Health care of a potential growth industry - so why do we attack doctors and hospitals, and put price controls on all health-related things? Why do we want to tax medical items???

* in the lousy jobs report, health care employment went up...it's a growth industry. If we lower tax rates on all companies, it will result in lower taxes for health care companies too...and we'll get more of it.

* just cut the tax rates - just cut it!!!!

* climate change .... to those who believe in climate change endangerment argument, raise the carbon tax/create a carbon sales tax, but legislate that every penny of that tax will go to slash marginal tax rates in every other aspect of taxation in the country. I don't believe in climate change endangerment, but this is the supply-side approach.

* if you're going to purchase a home, you should put in 20% so you have some 'skin in the game' rather than being able to bankrupt Fannie Mae and Freddie Mac...

* if you buy a home and sell it...you shouldn't have to pay capital gains on that sale.

* abolish capital gains tax for the entire economy - stop picking winners and losers when it comes to the items taxed.

* three decades of supply-side economics which grew the U.S. economy and created more wealth than ever would make a person think that we won the ideological battle, but I was wrong.

* We have to re-double our efforts in this regard ... don't forget about supply-side principles and the importance of economic growth and why it is that free people working for themselves are the heart and soul of economic growth.

* cruelest tax is inflation .... strong dollar is not in our nation's interest globally, but in our personal best interests.

* lower tax rates to spur growth...the results prove this worked in the past, it will work now.

* we're going to need, probably, constitutional amendments/limits on federal spending, because the politicians are incapable of limiting it themselves - and on the federal debt levels again, because politicians are incapable.

* we need to be optimistic and believe...we know how to restore prosperity and jobs...we know how to restore Americans excellence - liberals don't.

* only business - not government - can create a job. Nature of free-market capitalism is to be rewarded for the good work that people do - including owning a business and employing people.

* free-market capitalism is the best path to prosperity.