Stuart Varney: Biden team 'galloping' towards stagflation as midterms loom
Biden raising taxes amid inflation, looming recession 'makes no sense,' Varney argues
Stuart Varney: Biden team 'galloping' toward inflation as midterms loom
FOX Business host Stuart Varney argues the Democrats have 'never met a tax they didn't like.'
During his latest "My Take," "Varney & Co." host Stuart Varney discusses President Biden's policies driving U.S. inflation ahead of the 2022 midterms, arguing the country doesn't need more taxes amid an economic slowdown.
STUART VARNEY: The last thing you want to do when a recession looms, is raise taxes. But that’s exactly where Biden’s policies are taking us.
We already have a slowdown, and here come the taxes. Makes no sense, unless you're a socialist.
Why on Earth are we doing this?
I ask because the Treasury just reported record tax revenues. Tax revenue in the last 11 months totaled $4,408,452,000,000. That’s a half trillion more than last year.
The Treasury has never collected as much as this before.
MORE TAXES IS NOT THE WAY TO LOWER GAS PRICES
FOX Business' Stuart Varney discusses the Democrats' tax increases ahead of the midterms. (Fox News)
So why do we need more? We don’t, but Democrats have never met a tax they didn't like, or a spending plan they didn't support.
Unless of course, it’s for the military.
There will be new taxes on the wealthy and business. That's not going to produce growth. It’ll slow things down.
There will be lots of new spending and a half trillion in student loan forgiveness.
That’s inflationary.
WILL YOUR $10K-$20K OF STUDENT LOAN FORGIVENESS COME WITH A TAX HIT?
So here we are with plenty of signals that inflation is running hot, and the economy is in trouble.
And the administration doesn't want to hear it. Doesn't even want to acknowledge it.
The Biden team is galloping towards stagflation, two months before the elections.