Biden proposes to raise taxes on American business, having already forgotten his argument five minutes ago that we should make it cost less to build stuff in America.
Good news: Biden says nobody making under $400,000 a year will pay more in taxes. Bad news: at this rate, you'll need a $400,000 a year to afford a one-bedroom apartment.
Biden's plan to fight inflation seems to consist of thinking of expensive things and declaring that the costs should be cut. “Cut the costs of insulin!” “Cut the costs of child care!”
Price controls! That has never worked badly.
I guess the pandemic is really over if we are back to Democrats demonizing the pharma companies that gave us life-saving vaccines.
“Instead of relying on foreign supply chains, let’s make it in America,” Biden says as attendees chant “USA, USA.”
“Lower your costs not your wages” by making things in America, says Biden, while his entire regulatory & environmental agenda is about driving up the costs of building anything here.
Biden claims his “top priority is getting prices under control” and then offers an explanation for rising inflation:
“Look, our economy roared back faster than most predicted, but the pandemic meant that businesses had a hard time hiring enough workers to keep up production in their factories. The pandemic also disrupted global supply chains.”
Biden going through sentences like a man swimming against the tide.
I hate those moments during the State of the Union when presidents scan the crowd to pick out regular Americans—like the CEO of Intel.