John McLaughlin & Steve Moore | 04-04-26

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The Larry Cudlow Show entertaining and informative on the Red Apple podcast network.

So polling, polling during this election year and wartime is just a bombable.

Polls routinely cited in the media completely biased against Republicans and against Trump and in favor of Democrats.

An important point because so much of the legacy media is opposed to Iran and suffers from the Trump arrangement syndrome.

Meanwhile the Democrats may be getting a little cocky about the midterm election.

So let's talk to Steve Moore, dear friend, WABC radio host of More Money which comes up right after the show and most of these same stations.

And John McLaughlin, Ace Polster, Strategic Consultant, CEO of McLaughlin and Associates.

Also an advisor to Bruce Blakeman who did very well. We had a great interview with him.

I called him directly. He was on a boat in Florida. Anyway, he was terrific stuff.

Gentlemen, welcome. Happy and holy Easter to both of you and your families.

And John McLaughlin, I want to start with you.

You're sort of angry at what is it? The Reuters ipso's poll.

And I don't know. It's just like all the others. I see the citations of you, Gov.

And you wrote a piece on that that is why are they also biased?

They're biased against President Trump. They got Trump derasement syndrome.

And that Reuters ipso's poll, it's an online poll of adults and it's skews left to setter.

And I'll tell you that the questions they ask, they never ask.

If you think Iran had a nuclear weapon, would they use it against the United States and are allies? They don't ask that.

They don't ask. You know, we asked the question earlier in March, where we said, do you approve or disapprove of President Trump, the US using military action to stop Iran from getting a nuclear weapon, 51-41 they did.

They also thought it was, they agreed it was warranted and justified, 57-33.

And now that we're there, they agreed we ought to finish the job to make sure Iran never gets a nuclear weapon.

The majority of likely voters in America agreed 59-31.

Now the Reuters ipso's poll that was published today of adults never asked about nuclear weapons, even though President Trump did a wonderful direct address about why and what he's doing in Iran to stop them from getting nuclear weapons because they would use it to drop in missiles on allies and civilians at our military basis.

But in that question, they had a question, do you think that the quality of life of Iran is better or worse because of the United States military action?

I mean, they care about the quality of life in Iran at a time when we're at war. I mean, thank God they weren't around when Hitler was watching through Europe or something like that.

That's unbelievable.

What's your, in your polling, what is President Trump's approval rating and what is the sort of general view of the war?

We have him hovering about 50% right now among all voters.

Yeah.

And the problem with the war is the media.

If the only four to 10 voters listen to Fox Newsmax, conservative talk radio, there's another four and 10 that are getting propaganda from the left.

They might as well be Iranian state television or something like that.

But we're hanging on to this majority right now and we've got to win this war.

The price of gas has to come down, which you're forecasting.

You know, far more about economics than I do, you and Steve do.

But we've got to get through this.

And President Trump gave them 10 days, eight days ago to open the skirt of her moves.

They now have 48 hours to do that.

Yeah, he had a very, very, very tough truth social.

All hell is going to rain down.

You know, Steve Moore, it's funny, the economy is supposed to be nose diving because of the war and gas prices and so forth.

But the jobs report that came out yesterday was gangbusters.

And people kind of forgot that the one big, beautiful bill had a lot of powerful tax cuts and tax incentives.

So I don't care what these polls show.

Things are a lot better than people think.

Yeah, I was, you know, on Maria's show yesterday morning when that number came out and my literally, my jaw just dropped on the screen

because it was such a powerful number way, way higher than anybody expected, including myself.

And it shows there's a lot of resilience to this economy, you know.

And we have a really good small business pickup and jobs.

One of the themes of the Trump presidency that followed through in this report was drain the swamp.

Of the federal workforce as much as possible.

We've already cut a 300,000 out of the needless federal workforce and grow the private sector, productive sector of the economy.

We saw jobs pretty much across the board there and in construction, manufacturing, professional services.

So it was a good report.

We'll see, you know, whether this continues through April and May.

But I'll stick with what I said on your show the other night, Larry, which is when we get the streets open, the price of gas will fall just as sure as water falls down hill.

And we'll see the price get back to 60, maybe $70 range for a while and then dip even lower than that.

And when that happens, in my opinion, Mr. McLaughlin, I think people will feel a lot happier about the economy.

You know, Steve, just one other point on the hotline that you put out, which is so fabulous, committed to unleash prosperity hotline.

I just, the real crude prices, you inflation adjust.

Yes.

Oh, okay.

And you look at this thing in that, you know, in the Carter 70s, it was $160 a barrel.

Then it crashes during the Reagan years as he decontrolls.

It stays down during the Clinton years.

Then, okay, in the 2000s, it rises to $200 a barrel.

This was 2008.

That was Obama.

I think the first one was Bush and the second one was Obama.

Yep.

In averaging about $160 a barrel for quite some time.

Anyway, right now, you have it.

Let me see.

You're down.

It's $60 a barrel in real terms.

Now, that suggests that it's not going to be the shock that people and especially economists think.

It's not going to be the shock because the real number is much, much less $60 a barrel.

I mean, really, that's not bad.

Yeah, just a couple of quick points on that.

Number one, you know, if you look at the five years that Trump has been in office,

and the four years Biden was in office, you know, which one had a higher average gas price?

Good.

Biden.

Yeah.

Wait a minute.

Wait a minute.

Yeah.

Wait a minute.

Count for the last few months.

Yeah.

Right.

People forget that Biden's performance on gas.

And by the way, that's what they wanted to happen because they hate gas.

They hate oil.

And if you cut the supply, you're going to have an increase in price.

And thank God Trump has done drill, baby drill, or would be paying $150 a barrel of oil today.

The other thing I just want to warn about, Larry, that because the gas price is high now,

I'm hearing all of the dingbat ideas from the Democrats that Jimmy Carter tried back in the 1970s,

like windfall profits taxes and things like that, which are only going to make the situation worse.

When you're right, when Reagan came in with an 18 months, he cut the gas price in half.

This is Greg Kelly.

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It's really something I'm looking at your chart.

Late Carter, this is, again, inflation-adjusted, real gasoline prices.

Late Carter was $160 a barrel, late Jimmy Carter, late seven days, okay.

And then Reagan comes in, this is the 1980s, and it drops down to $40 a barrel.

Is this wonderful?

It's actually 5% reduction.

And actually in the Clinton years, it gets down to $25 a barrel.

I mean, it's really quite amazing.

So there's a little too much pessimism about that.

Now, John McLaughlin, pulsars will never pick that up.

They don't bother to do that.

But again, if the economy outperforms, you know, the midterms are going to look a lot better.

Absolutely.

And by the way, Bruce Blakeman, you know, what he didn't tell you was that,

I mean, we had it within nine points, 50, 2 to 43.

So he's lay ahead of where Lee Zelda was at this point,

and that Siena Paul, which usually has too many New York City voters,

too few Republicans, because they do registered voters that are likely voters,

they have within 13th.

And the big game was Bruce ran a week of statewide TV on cable and to opinion leaders.

Saying he would reduce the utility bills by 50%.

And Hawkels had 36 increases, plus she had this climate change legislation.

So Bruce, public opinion, New York has changed where voters are now willing to,

okay, we ought to do some more oil and gas drilling upstate where like Pennsylvania does.

And we ought to get rid of these climate change regulations where Hawkel saw,

in her polls, probably, that this is hurting and Bruce is gaining.

And she's got a 51 disapproved and only a 42 job approval in our polls.

So she's upside down, and people got to utility bills at March after a cold winter,

and they're like, heck, we're climate change.

They can't afford the utility bills on top of the taxes in New York.

I talked to Bruce Blakeman earlier, and we talked about this directly,

and why not open up some fracking and drilling in New York?

It would affect, listen, it would be around the Bigumtson area and Southwest New York state.

But you know what? It would affect all of upstate New York.

It would be a booster shot or because of the spillover effects and the knock-on effects.

Pennsylvania did it, right? And I always compare Pennsylvania versus New York.

It's like West Berlin and East Berlin during the Cold War.

You cross the street, and you've got this tremendous prosperous state of Pennsylvania

because they're big oil and gas producers.

You listen to Senator David McCormick, who's a friend of ours, and he's terrific stuff.

Then you go back to New York, and it's like East Berlin completely terrible.

Larry, it's worse than what even you're saying, because, you know, if you look at a map

where all the wells are, they're right on the New York Pennsylvania board.

So because of course, Donald, oh, hey, what's happening?

They're drilling down, they're drilling underneath the-

They're taking New York's oil.

I was stupid of that.

So I didn't even talk to myself.

It's making New York's oil work.

It's in the climate change problem. It's just all the money's going in.

And we're losing billions in jobs plus billions in tax revenue

that could be used for schools and lower tax supplement.

And we're talking to two of the best of the best, Steve Moore,

who's W-A-B-C radio show comes up right after this broadcast on most of these same radio stations.

And John McLaughlin, A-S-Polster, and the head of McLaughlin and Associates.

John McLaughlin, Nick Gingrich's latest piece, very, very interesting.

Democrats could get an alarming wake-up call in 2026.

Nobody likes big government socialism. Nobody likes tax increases.

Nobody likes letting males and girls locker rooms.

Nobody likes open borders and protecting illegals.

And nobody likes favoring criminals over the strengthening of the police.

Now, that's a powerful argument if the GLP makes it.

Absolutely. I totally agree.

I mean, it's exactly right. The Republicans, if they want to win, Trump's not on the ballot this year.

They need to have their own agenda go after Chuck Schumer, who's very unpopular.

He would lose it the second in New York State if he was up for a real action.

He would probably lose a primary.

And then Jeffrey's speaker, you'd have to want to be speaker.

Jeffrey's speaking, Jeffrey's is a accomplice.

And these guys, they're undermining Trump at every second on all these issues,

whether it's voter ID, whether it's the tax cuts they had Democrats, both to raise taxes.

Every Democrat in the House and Senate voted against the Trump tax cuts

and for a tax increase of $1,700 on every American.

So, Newt's right. We need an agenda on them.

Plus, they would allow Iran to get nuclear weapons.

These Democrats are like unbelievable the way they would appease their Iranians.

We saw how that didn't work. They would have had 11 bombs this year if it wasn't for Donald Trump.

So, Newt's right.

So, that's it.

The offense, you need a scorecard.

Now, Tony, the Iran campaign is a sleeper issue.

I mean, I believe I have great faith in President Trump and his advisors and the military.

I think it's going to turn out very well. Steve Moore is going to be right about the big drop in oil and gasoline prices.

I think it's going to be a sleeper issue because Democrats have been opposed to this from day one.

And they'll still talk it down. They'll still attack it even after it's over successfully.

So, I think that's a problem.

Now, Steve, going to you on the economy, Steve Forbes, talking to me at the top of the show,

very kind. You wrote a column about the so-called...

Oh, I saw that.

...the Cudlow Plan.

Oh, John.

But, you know what? I mean, look, we need a second, big, beautiful bill.

This year, Defense, Department of Homeland Security, right?

Let's open up TSA, voter ID and tax cuts.

It will be a tremendous package and they can get it through reconciliation.

You don't need 60 votes. You only need 50 plus vice president is 51.

That's the way to get this stuff done. These are issues that people like, including I've put in voter ID.

So, a second, big, beautiful bill, Steve Moore.

It's time for that and we should add an indexing of capital gains for inflation

because that's something that's 8 and 3 both.

And B, most Americans view that as very fair.

It's not fair to tax people. You know, you bought a house 40 years ago for $400,000 and it's worth $3 million now

and most of that's inflation and they're going to tax you on it.

So, that would be a very good one.

Look, I'm all in favor of this. We do need a second reconciliation bill.

One of the items we had, Larry, in our hotline this week,

that's out for a poll to what you're talking about, is when you tell people, when you tell people,

you know, you got a $2,000 tax cut, right?

It's a big, beautiful bill.

There's support for the bill goes up to, you know, three quarters.

If they don't know that, then only about 25% of the people support the bill.

So, let's get that message out there. Look at your paycheck folks.

You're getting more money back. If you're a tip worker, no tax benefits.

So, security benefits, no tax on that.

So, people need to be, I think our side has been somewhat delinquent

and just talking all the time about the benefits to people's pocketbooks,

especially the time when people are worried about affordability.

They've got to lay it out. They've got to sell it specifically,

just like you're doing now, with the numbers, okay?

Put it in there. How much money is a middle-class saving on taxes?

And by the way, Forbes had a good point.

Why not a middle-class reduction in tax rates?

Remember, you and I used to talk years ago,

raise the brackets, widen the brackets, and cut the rate.

I mean, it would be fantastic.

Well, I love that idea, too.

And, you know, Trump and his team needs to just,

and then all Republicans.

And by the ways it needs to be, by the way,

put out a report, Larry, you may have seen,

that showed that they actually rich pay a higher percentage of the tax.

Now, lower.

I was on CNN, believe it or not, the other night.

And with some liberal congresswoman from Washington,

she called the big ugly bill. I said, ugly.

You know, I said, man, are you against a $2,500 tax cut

for the middle class? And she just stammered.

She didn't even say about that.

By the way, people should really dial up the committee

to unleash prosperity, hotline.

It's a daily, it's unbelievable how important it is

in all these issues, every single day.

It's terrific, terrific stuff.

Thank you, Larry.

John McLaughlin, the GOP, I don't know,

they need to go to one of those classes for salesmanship and marketing.

I mean, what?

They've got powerful points to make.

They get bogged down and stuff, and they just don't make them.

No, they fall into the traps for the Democrats all the time.

But what you need is, as I've listened to you,

you need, like, waiters, waitresses.

People who work for tips say, I'm getting more money.

Right.

You need people who work for overtime saying, you know,

I'm working overtime.

The reason I'm doing the overtime is, I'm not being taxed on the overtime.

And then you didn't see any sort of about the attacks credits.

So you need real people providing testimonials

how this really helped them in their real lives.

And the problem is, you know, back in, you know, Steve,

you were talking about paychecks.

That was Reagan into the case when we cut taxes.

You could see it on your pay stuff.

People get deposits in their account right now

and they're paying with Apple and credit cards.

But they don't see it, they're paying with their phones.

But they have to be told and reminded.

And when they do their taxes, they'll know if to get in a refund.

Take home pay.

To last year.

Reagan called it take home pay.

It was really fantastic to go after the middle class.

Take home pay is so important.

Steve Moore, one last one, despite your best efforts in mind in our pals,

Elizabeth Warren is still pushing a wealth tax,

the state of Washington just jacked up all their taxes,

including wealth.

Other Democrats are pushing for this.

A wealth tax.

So it will be less wealth.

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

I mean, this is great.

It's like the New York model, run nationwide.

This is not good.

Well, one of the major themes, can I talk about on my show coming up,

is the fact that the red states are just bleeding the blue states dry.

In other words, all in so much of the wealth,

so many of the taxpayers, some of the businesses,

they're all just leaving these tax states,

like California, New York, New Jersey, Connecticut.

And where they're going, Florida, you know, in Texas.

How much longer can this go on before they wake up and say,

maybe we should be cutting our taxes, too.

All right, Steve Moore, coming up right after this show

and most of these same radio stations, more money.

John McLaughlin, thank you.

Happy and holy Easter to both of you, appreciate it.

And folks, happy and holy Easter to you.

I'm Cudlow, we'll be back next weekend.

Thanks for listening.

The Larry Cudlow Show on the Red Apple Podcast Network.