Washington, D.C. – The Democrats are in full spin mode as they try to sell the new Schumer-Manchin tax-and-spend bill. Not only will the bill break President Biden’s promise not to raise taxes on those making under $400,000 (it will, and levy $16.7 billion in new taxes on people making less than $200,000 a year) but it also will not address inflation.
In fact, the Wharton School’s analysis concludes that “the impact on inflation is statistically indistinguishable from zero.” So why would Democrats call a tax and spending proposal a fix for inflation? Politics.
The Democrats have dug themselves a massive hole on inflation by spending too much, and poor economic management. So instead of being honest about what they intend to do, they push more spending and taxes under the verifiably false guise of inflation reduction.
Luckily, Americans aren’t that easily fooled, and they know spending got us into this mess, and it won’t get us out.
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