While the newest job statistics are encouraging (to Democrats), Larry Kudlow, a former White House economic adviser to former President Donald Trump, questions why President Joe Biden’s current budget proposal calls for “jacking up taxes.”
You might question why Joe Biden would propose a budget that raises taxes 36 times. On Sunday, Kudlow decried Biden’s intended “confiscation of wealth by taxing unrealized capital gains” on WABC 770 AM’s N.Y.’s “Cats Roundtable.”
Kudlow told John Catsimatidis, “He’s attacking the corporations that hire people, he’s targeting the investors who come up with new technology and inventions that make America great, and he’s battling the fossil fuel companies that would get us out of this oil problem,” as quoted in a report.
“I don’t understand the budget.”
“How come you want to sabotage the economy by raising taxes on anything that moves?”
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And, according to Kudlow, Biden is burning a third of the strategic reserve for “political price-fixing.”
It is merely a temporary solution to a system problem that Biden’s energy strategy has generated, according to Kudlow.
He answered, “It’s a drop in the bucket. He said. “In the event of a national catastrophe, such as a storm destroying Texas oil fields, the strategic oil reserve would be available as a backup.”
Kudlow determined that Biden’s war on energy is a terrible policy for the economy and the environment as well. “If we had a sensible policy,” he added, “we could supply the entire bloody globe with liquefied natural gas and put an end to the dirty coal in China and India.”
“But we do not. It’s essentially cheap political price-fixing.”
