Biden's Build Back Better plan is 'bad economics': Art Laffer
Build Back Better will cause people to leave the labor force, the former Reagan economist said
Former Reagan economist Art Laffer says that Biden’s Build Back Better plan is bad economics and will increase inflation.
Former Reagan economist Art Laffer, during an interview on "Mornings with Maria," said that Biden's Build Back Better agenda is "bad economics" and Democrats are going in "the wrong direction."
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ART LAFFER: It is [extraordinary] and it's really bad, bad, bad economics. This plan, this Build Back Better or whatever build backwards better, I'd like to call it really will cause people to leave the labor force, not join it. The higher taxes will destroy the incentives for people to invest and increase [the] production base, and you will find the supply of goods declining. And with all of this, new spending will be more demand. And that will only increase the rate of inflation going forward. In my view, all of the signs here are. Everything they're doing Maria is in the wrong direction. Everything.
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Former Reagan economist Art Laffer weighs in on current labor shortages and how Biden’s Build Back Better plan will have negative impacts on the economy.