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:
- Americans Oppose President Biden’s Tax Hikes: Overall, Americans oppose President Biden’s latest tax hike scheme three to one.
- 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.
- 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.”
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.