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TSWT Business presenter Larry Kudlow considered the Inflation Reduction Act’s name to be Orwellian on “Hannity”.
THE MANCHIN, SCHUMER ‘INFLATION REDUCTION ACT’ IS A FRAUD
KUDLOW: The idea that it is inflation reduction is something by George Orwell. It’s not. Besides, the CBO came up with a preliminary scorecard, just preliminary stuff. But actually, the deficit gets worse over the next four years, until it gets better after that. But getting better is full of gimmicks. So I don’t believe a word of it. And anyone who thinks more federal spending isn’t inflationary, or all these tax increases, as you say — they’re middle class tax increases, I agree — pretty much tax increases across the board. The corporate tax hikes, Sean, will be brutal and have a bad impact on real wages and typical household income. So they stimulate federal spending on the demand side. They kill the supply side because of the taxes. It’s a terrible mix. We shouldn’t do it. The whole bill is a monster.
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