Trump: ‘America Belongs to Those Who Love It’

“America belongs to those who love it.” It’s a beautiful line from President Trump’s speech at Dallas. And he added, for context, that “on election night we’re going to prove that America does not belong to those who hate it.”He was talking about the far left, antisemitic, big-government socialists, who have become the tail that wags the Democratic party dog.They do not love America. Indeed, many of them hate America and the American flag. And for the socialist crowd, the animating force is always antisemitism, a desire to eliminate the state of Israel, and of course that kind of hatred and bigotry leads from Jews to Catholics, African-Americans, Hispanics, Asians, there’s no stopping it. History proves that socialism goes hand in hand with bigotry.And let me say one more, with respect to the cries of affordability, a recent analysis from the Cato Institute estimated that Medicare for All and the big-government socialist takeover of the economy could easily add up to a $200 trillion price tag. A $200 trillion price tag is not affordability. So I return to the theme, “America belongs to those who love it,” was such an important line in the President’s speech last night.Unfortunately, his misbegotten idea of a $5,000 rebate for adults, has overshadowed so much of the coverage of the president’s speech.It is not a good idea. It’s a demand-side temporary tax rebate that has no supply incentives for work effort or investment. Actually it would reward nonwork, thereby nullifying so many of the Trump policies that emphasize the need to work, and the eligibility for more work. And then you have to spend it in the United States, that’s unenforceable.There are roughly 245 million adults, according to 2024 Census data. At $5,000 a throw, that’s a bit more than $1.2 trillion worth. There are no pay-fors on this. And because there are no work or investment incentives from a one-time rebate, there is no dynamic scoring or Laffer Curve effect.The president surfaced this kind of rebate just before the 2018 midterm elections and it went nowhere. And I think this too will go nowhere.And it’s a shame that it has overshadowed the press coverage, because Mr. Trump has made a strong case on the economy. He explained that “the typical American’s 401K has gone up by almost $50,000. And unemployment claims have reached the lowest level ever recorded.”Mr. Trump added that “I only wish the fake news would give us credit for what’s happening.” He continued: “I told you about the investment. The investment in our country is record. But everything right now in the United States of America, we have more people working than we have ever had before by a lot.”Also, Treasury Man Scott Bessent gave an excellent speech on the booming Trump economy. As Mr. Bessent put it: “more Americans are working than ever before. The private sector has added over a million jobs. U.S. manufacturing is roaring back, roaring back at its fastest pace in years.” Mr. Bessent added that “companies are investing trillions to build and expand across the United States. And just like in President Trump’s first term, the bottom 25 percent of earners are seeing the biggest wage increases”And Mr. Trump also said he wants to make the One, Big, Beautiful Bill’s working families individual tax cuts — on tips, overtime, and so forth — he wants to make those cuts permanent. That is a very good idea. Those tax cuts have important work incentives, and will over time pay for themselves.And he could’ve gone for tax reform, especially getting rid of middle-class brackets, with overall simplification that would be very popular and pro-growth.Unfortunately, everybody’s talking about the $5,000 rebates. Yet he did well in my view to tell the nation that gas prices are temporarily high because Iran must never be permitted to have nuclear weapons.It was straight forward and logical. Mr. Trump is an optimist on lower gas prices and ending the war post election. I like that optimism. At the end of the day, Mr. Trump is going to put himself on the ballot, pretend he’s on the ballot, he’s going to go to 35 races or more. And I think that’s the best way to get out the base vote. So I agree with his political decisions. And finally, I’ll just come back to this beautiful phrase. America belongs to those who love it. To me, it implies God and patriotism, families and work. And hopefully we’ll hear more of this as the campaign goes on.From Mr. Kudlow’s broadcast on Fox Business Network.

Trump: ‘America Belongs to Those Who Love It’

Trump: ‘America Belongs to Those Who Love It’

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