Kudlow: Biden's plan will lead to much more inflation

Larry Kudlow reacts to inflation fears in the United States and how President Joe Biden's plan could affect it, Thursday on "Kudlow."

LARRY KUDLOW: If Uncle Joe Biden gets his green worker paradise, Soviet-style Bulgarian economic policies, massive tax increases, massive social spending, destroying the fossil fuel energy sector, then the dollar will collapse and leaping tax rates will choke off economic growth. Call it the 1970s with a socialist spin. In that case, we will have permanently higher inflation. And we will have weaker and weaker economy. 

Now if, on the other hand, Mr. Biden is green worker paradise does not get voted in, then I'm going to say this inflation bump is just going to be temporary, alright. A couple more months that's all. Really a rebound from the pandemic deflation, and actually, it's a sign of strong economic growth. There will be no long-term inflation consequences. That's if we don't get the Bulgarian model.

WATCH LARRY KUDLOW'S FULL MONOLOGUE HERE: