Higher Taxes Won’t Fix Inflation
30th April 2022
Senate Majority Leader Chuck Schumer knows how to fix inflation: higher taxes.
“If you want to get rid of inflation, the only way to do it is to undo a lot of the Trump tax cuts and raise rates,” surmised the New York Democrat to reporters on Tuesday, after meeting with West Virginia Senator Joe Manchin about the budget. “No Republican is ever going to do that. So the only way to get rid of inflation is through reconciliation.”
I’m trying to figure out how tax cuts cause inflation and I’m not finding it. I’m thinking Two-Buck Chuck is talking out of his butt again.