Over the past few weeks, Democrats seem to be having a revelatory experience, discovering that simply increasing demand through government spending doesn’t work if there are limited products to buy. The supply side of the capitalism equation is essential, and when government layers on excessive regulations, it holds back business and slows the production of goods.
The inability of the Biden administration to both create a constructive environment for producers and a dependable, efficient supply chain to get goods to market has produced the worst inflation in 40 years.
Without supply, all increased demand does is increase prices. This administration needs to focus on fixing the supply side of the economy. But instead, Biden tweeted Friday, “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.”
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