Posted on 11/16/2007 8:56:18 AM PST by daylilly
ICYMI: Thompson would be "bullish" for stocks as President
Larry Kudlow : Allright, were back with Michael Metz and Don [Luskin]. ...Mike Metz, you heard Fred Thompson talk about social security. He is the only candidate on the campaign trail with that kind of detail. He wants to slow down benefits and he wants to allow people some 401-k savings accounts, he's not afraid to take the heartburn. What do you make of this?
Michael Metz: I was very impressed. I came skeptical, I think he did a good job. I think it is a problem that has to be addressed and I think he's showing courage in proposing this.
Kudlow: Do you think Michael -- this is interesting. Courage is a good word to use. Character, that's my own take. We can all find holes to punch through an entitlement reform package. Very complicated thing, as I'm sure you know. But it just seems to me this is a guy who is rising above the fray on thi s. I'm still waiting for others to chime in. but he's really got a head start on this.
Metz: Yes, he does. Actually, the problem can be solved fairly easily. That is you extend the age at which you begin to get benefits. The other adjustments he suggested, also raise the capital on the amount of income that's taxable for social security. I think it could be solved if somebody starts to move.
Kudlow: Don Luskin, I do favor raising the retirement age, but raising the cap on the social security payments, that's something that Thompson really came clearly-- he's against that. The Democrats are for that. I know where you are going to come out. But who do you think's going to win this debate?
Don Luskin: Well, you know, call it courage, call it conviction, call it suicidal tendencies. I don't know. But you've got to admire the guy for grasping the third rail firmly with both hands and saying what needs to b e said. Yeah, we are looking at a bankrupt system and we have to do something about it. Raising taxes, that's talking about a tired cliché. That's not going to help, that's just going to make it more bankrupt. That's just going to throw more money down the hole. ...
... Kudlow: ... Take Thompson, what you heard is he bullish or bearish for stocks?
Metz: I'd say bullish.
Kudlow: Don Luskin, bullish or bearish for stocks for Mr. Thompson?
Luskin: Oh bullish, bullish, bullish. I only wish a guy like that could be president.
Kudlow: That's interesting. Both of you agreed on that, that's fascinating. Gentleman, thank you very much for helping us out this evening. Thanks for staying around. Michael Metz and Don Luskin, two of Wall Street's very best. Up next, my last word on "Kudlow & Company" on Fred Thompson.
Kudlow: ... We saw Michael Metz and Don Luskin, our two ace investments all star commentators. One is a Democrat, the other's Republican. One is a supply sider and the other is not. They both agree that Fred Thompson had a lot of courage and they both felt that he would be a big plus for the stock market if he were elected next year. I find that fascinating, kudos to Mr. Thompson. End transcript.
Don Luskin is Chief Investment Officer for Trend Macrolytics and a contributing writer to SmartMoney.com. Michael Metz is Chief Investment Strategist for Oppenheimer & Co. Inc.
Does anyone know what ICYMI stands for?
Good interview for Fred.
ICYMI = In Case You Missed It
Fred gave one of his best interviews to date. He was very comfortable discussing financial and economic issues with a wonk like Kudlow.
Go Fred go!
If you’re the only one, and it is in jest.
Don’t know why people feel the need to rain on a good news day.
I like Fred and would really like to support him, but I have a question about how he answered Kudlow’s question regarding corporate capital gain taxes. Especially in light of his previous answer that lower tax rates stimulate the economy.
It was not a trick question, yet Fred said “he didn’t know and had never thought about it”.
Can someone explain this response to me?
Thanks
Voting for Fred is becoming a no brainer for the undecided. Go Fred!
Yes, it was in jest. Didn’t think I needed the < /sarc>.
This guys so lazy, he develops concise plans on his presidency...for difficult issue. Imagine how lazy that is!?
Many of us feel the same way, and not just for "bullish" markets.
I thought it was in jest. Sorry if I wasn’t clear.
I'm guessing that at least off the top of his head, he doesn't know the corporate capital gains rate (he does know the corporate income tax rate, however) and doesn't want to answer a question if he's unsure of his facts.
IMHO he likes to be sure that his answer is correct. Doesn’t want to miss something.
Kudlow was following up on a tax rate question, and he didn’t have more to say on the issue. Kudlow was pushing for more and at that time Fred didn’t have a more complete answer. This was a format for more complete answers until the end when Kudlow was pushing for a quick round, more answers in less time.
I you make a mistake in wording, it sticks with you for a LONG time in this youtube age.
Many times when he comes up with a more detailed answer, it ends up as a blog on his website which gives him more time to think about it and check the details if needed.
Fred often gives much more of an answer than other candidates, but they tend to not be in the Q&A sessions when the reporters want a quick sound bite. He has to ask for extra time from the questioner to get in a more complete answer.
I’ve been pointing out to young people that Fred is the only candidate advocating their interests, in connection with Social Security.
I’ve been pointing out these ideas to my son for years, before Fred ever said anything.
I’ve been pointing this out to an African American co worker, since her husbands all died young, it would have been to their benefit to own their own accounts.
What Fred is saying now is better than what I remember from years past, but I’ve been advocating private accounts.
I hope as you say, young people pick up on this.
Private accounts are the only long term solution, but we have to buy time to get there. Fred is merely making suggestions about how to buy time. Though I think I've heard him make a comment about private accounts. I'll have to pay closer attention, in the future.
The two young coworkers I've talked with the most, are both liberal, but both are strongly in favor of private accounts.
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