LARRY KUDLOW: Biden's massive spending is a real inflationary problem

The Trump agenda is not inflationary. The New York Times in a long piece has now officially decided that the real inflation threat is Donald Trump and his policies. They are wrong. So, let’s review the bidding for a moment. Over Trump's four-year term, the level of consumer prices rose by a scant 7.7% for his whole term, which comes to 1.9% annually. Meanwhile, during Joe Biden's nearly completed term so far, the level of consumer prices rose 20% – or 6.1% annually.

Now, those are all counter-inflationary effects. When marginal tax rates were slashed under JFK, Reagan and Trump, inflation never uttered a serious peep. Not all tax cuts are the same. Temporary tax credits to spur one-time consumption spending would be inflationary because there's no supply effects from business, but permanently lower tax rates create incentives to produce and invest, and that actually can lower inflation in many cases.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

LARRY KUDLOW: Americans cannot afford the Biden economyFOX Business host Larry Kudlow compares President Biden and former President Trump's economic agenda ahead of the first presidential debate on 'Kudlow.'
Source: FoxBusiness - 🏆 458. / 53 Read more »

LARRY KUDLOW: Nobody believes Biden is solving the border catastropheFOX Business host Larry Kudlow says the border crisis will not change until the White House changes leadership on 'Kudlow.'
Source: FoxBusiness - 🏆 458. / 53 Read more »

LARRY KUDLOW: Biden's spending policies are keeping the accelerator on the floorFOX Business host Larry Kudlow unpacks the Biden administration's spending policies and how they are impacting the deficit on 'Kudlow.'
Source: FoxBusiness - 🏆 458. / 53 Read more »

LARRY KUDLOW: Biden gave a disgraceful speech to Morehouse College graduatesFOX Business host Larry Kudlow says President Biden should be ashamed of himself following his divisive commencement address at Morehouse College.
Source: FoxBusiness - 🏆 458. / 53 Read more »

LARRY KUDLOW: Biden is the biggest spender of all timeFOX Business host Larry Kudlow shreds President Biden's overspending, alleging he is trying to buy voters ahead of the 2024 election on 'Kudlow.'
Source: FoxBusiness - 🏆 458. / 53 Read more »

LARRY KUDLOW: Trump has Biden on the runFOX Business host Larry Kudlow argues former President Trump's Wildwood, N.J., rally turnout changes the dynamics of the presidential race on 'Kudlow.'
Source: FoxBusiness - 🏆 458. / 53 Read more »