Biden's Dishonest Tax Obsession

As high inflation persists, why does President Joe Biden continue to argue for raising taxes, especially on corporations and individuals? In Wall Street Journal, for example, Biden recently argued that if Americans want to stabilize prices, they should want to “end the outrageous unfairness in the tax code.”

Economists from his own party, including Clinton Treasury Secretary Larry Summers and Obama Council of Economic Advisors chair Jason Furman, have failed to persuade the president that tax rates have little to do with inflation, which arises when too much money is chasing too few goods and services. If anything, these liberal experts have tried to explain, boosting marginal tax rates will only discourage the additional investment in goods and services needed to tame price increases.

Read Full Article »