Biden's new take on inflation: Trump would be worse

[applegrove]

Biden's new take on inflation: Trump would be worse

Hans Nichols, author of
Axios Sneak Peek

https://www.axios.com/2024/04/13/biden-trump-inflation-worse-tariffs

"SNIP.............

The White House is rolling out its latest response to high inflation: It will be much worse if former President Trump is elected.

Why it matters: President Biden and his top economic advisers know that inflation has given voters bad vibes that have become a hurdle to his re-election — and that there's not a lot they can do to lower it before November.

* So they're turning to a new line of attack: warning voters how much higher inflation could climb if Trump imposes new tariffs and gives more tax cuts to the wealthiest Americans.

* "MAGAnomics is inflation-feeding welfare for the rich that raises taxes," White House deputy press secretary Andrew Bates writes in a new memo to Biden allies, out this morning.

* "Not only will Bidenomics lower costs even more, but it will also attack inflation by undoing tax giveaways for rich special interests," Bates wrote.

...........SNIP"

Applegrove:

What happens on inflation when Trump deports 11 million people and growth tanks and wages go up all the while hedge funds and private equity keep cannibalizing markets in the US as they compete with each other for places to invest now that the stock market is oversaturated? Will the housing market crash? What will happen?

[elleng]

1. Doesn't sound effective to me, too many variables and too much nuance;

most people (including Fed members) don't know WHAT causes inflation or what to do to reduce it, like GREED.

[applegrove]

2. They can tax price gauging.

Last edited Sat Apr 13, 2024, 08:05 PM - Edit history (1)

[elleng]

3. That's what antitust laws were supposd to prevent.

NO WAY any agency could or would determine what's the RIGHT price, that's what COMPETITION is supposed to prevent.