Kudlow: Biden Budget ‘Jacking Up Taxes on Everything That Moves’

Kudlow: Biden Budget 'Jacking Up Taxes on Everything That Moves' Kudlow: Biden Budget 'Jacking Up Taxes on Everything That Moves' Larry Kudlow at CPAC 2021. (Joe Raedle/Getty Images)

By Eric Mack | Sunday, 03 April 2022 02:19 PM

While the latest jobs report is strong, former President Donald Trump's White House economic adviser Larry Kudlow asks why President Joe Biden insists on "jacking up taxes" in his latest budget proposal.

"Why would Joe Biden put out a budget that raises taxes 36 times?" Kudlow lamented to Sunday's "The Cats Roundtable" WABC 770 AM-N.Y., adding a rebuke of Biden's proposed "confiscation of wealth by taxing unrealized capital gains."

"He is attacking the businesses that hire the workers, and he's attacking the investors who come up with the new technologies and innovations that make America great, and he's also attacking the fossil fuel companies that would get us out of this oil mess," Kudlow continued to host John Catsimatidis. "I don't understand the budget."

"Why do you want to undermine the prosperity by jacking up taxes on everything that moves?"

And all this comes as Biden is burning the strategic oil reserve for "political price-fixing," according to Kudlow.

"He is depleting a third of the strategic reserve for political price-fixing," he said. "That's all it is. It's not going to work."

It is merely a temporary solution to a system problem Biden energy policy has created – predictably – Kudlow said.

"It’s a drop in the bucket," he said. "The strategic reserve is there in case you have a national emergency such as a hurricane blowing up Texas oil fields."

Biden's war on energy is bad policy for economics and the environment, Kudlow concluded.

"We could supply the whole bloody world with liquefied natural gas and stop the dirty coal in China and India," he said, "if we had a sensible policy."

"But we don't. It's just cheap political price fixing, and it's completely wrong and utterly baffling."

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