It’s hard to believe that the Democrats passed a huge tax and spend bill in the middle of a recession. They’re trumpeting it as a “victory,” not caring what comes next or how it is going to hurt Americans in so many ways. They only care that it advances their objectives and is within their reach.
But Sen. John Kennedy (R-LA), who is known for his folksy style, said it for all of us when he called what they did a “special kind of stupid.”
It’s a special kind of stupid to raise taxes during both a recession and inflation—that’s called stagflation, which is what we have right now as a result of President Biden’s policies. pic.twitter.com/VND3V58JuD
— John Kennedy (@SenJohnKennedy) August 7, 2022
Kennedy stated that this would be devastating for Louisianans as well as all Americans. He said that now “Joeflation” wouldn’t just refer to Joe Biden’s inflation but now you can add in Sen. Joe Manchin (D-WV) as well. A tax on oil or gas is one of the worst things about the bill. Why in the heck would you do that when the price of gas is so high and Joe Biden is going — hat in hand — to the Saudis begging for oil? As Kennedy noted, “When you tax something, you get less of it.” Then the prices go up, even more, when the taxes are passed on to the consumers. You can buy an electric car for $75,000, right? That’s what Joe Manchin seems to think. “That’s not going to work in Louisiana. That’s not going to work across America,” Kennedy declared.
Kennedy pointed out the fact that everyone would be affected by increased taxes, as per the Joint Committee on Taxation. According to the Tax Foundation, this will result in thousands of lost jobs and a reduction in economic output. It would also lead to lower after-tax incomes over the long term for all taxpayers, regardless of their income.
Kennedy also detailed how Manchin raising taxes on businesses, especially manufacturers, is going to be passed on to all of us in “higher prices, lower wages, lower stock prices, and lower 401K balances.”
“It takes a special kind of stupid, in my judgment, to raise taxes during both a recession and inflation. That’s called stagflation,” Kennedy said. He said he didn’t think Manchin intentionally wanted to hurt people or have “more people living in a tent behind the Whataburger. But that’s going to be the result of this bill,” Kennedy finished. “This bill is tier-1 moronic.”
This is a great way to express it. Democrats have all signed on to this “special kind of stupid” that’s going to hurt everyone. We need to toss them out in November so we can do whatever we can to rectify all the harm that’s going to result.
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