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Democrats Keep Threatening Crippling Tax Hikes

April 21, 2022

As reported by The Hill, Democrats are still hoping to revive the President’s $5 trillion tax-and-spend agenda (like we’ve been warning you for months).

Democrats are doubling down on the inflationary economic policies that have resulted in 40-year high price hikes.

It’s no wonder why even economists who have worked with President Biden have started distancing themselves from his agenda and sounding alarm bells about rising prices and the looming recession.

It’s worth remembering:

READ: Americans Receive Largest Pay Cut in 40 Years

  • President Biden’s Tax Hikes Kill Jobs, Slash Family Wages Across Income Levels: President Biden’s tax hikes would slash low- and middle-income earners’ incomes and destroy at least 138,000 U.S. jobs, according to a new study by the nonpartisan Tax Foundation.

READ: Biden Tax Hikes Increase Burdens for Taxpayers

  • President Biden’s Tax Hikes and Spending Bill Would Worsen Inflation: Even Mark Zandi, the White House’s preferred economic forecaster, says the Build Back Better bill will worsen inflation: “None of these ideas so far will help to a meaningful degree, and could do some harm because they could juice up demand at a time supply is constrained by the pandemic and worsen inflation.”

READ: San Francisco Federal Reserve Analysis Debunks White House Excuses on Inflation

Bottom Line: If Democrats want to get serious about addressing rising prices, they’ll stop threatening to make it worse with crippling tax hikes, more runaway spending, and a regulatory environment that will send energy costs higher.