he understand. and. reagan did on fiscal side something different. than this administration, he slashed taxes across the board to try to ease the pain and keep the economy working, that is not something that democrats or biden would do, are they not talking about increasing trump taxes. they want to spend more money, to cobble together pieces of build back better lowest over and force joe manchin to get onboard and raise taxes by a trillion, if they are not hammering corporate sector in word, they will hammer them indeed. that would assuming we re headed into a recession or already in one, that would make it that much worse, that much deeper and prolong a recession that much more by raising taxes in that environment.
is that the right medicine at this time? well, i feel like that is mixing a few things. if your thought that excess spending is what caused the inflation, all that matters is the delta from last year when you re doing the accounting. so it s not going to go up $2 trillion from what it was last year. demand is going down. we re on path to have the biggest decrease in the deficit in the history of the united states. so spending is falling, not going up. the build back better argument is not really about inflation because that is a bill that is spread over ten years and is paid for. so i kind of think that s a red herring. we should argue about that on its own merits. charles: let s give props to the trump taxes for that deficit going down. we ve bring in records amounts of money on the tax side. president trump s tax bill went through, we were told that
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