THANK YOU.
BUY A COFFEE ANY TIME.
THE STOCK MARKET WHICH GOT
CLOBBERED TODAY.
THE STOCK MARKET IS NOT ALWAYS
RIGHT AS A SHORT-RUN PREDICTOR.
BUT IT GIVES US A SENSE OF
WHETHER THE HEALTH OF THE
COUNTRY IS GOING UP OR DOWN.
THE S&P FELL 18% AFTER JOE
BIDEN’S FIRST YEAR IN OFFICE.
IT’S NOW FALTERING BADLY AND
IT’S DOWN TO FLAT ON THE YEARLY
DAY MEASURE.
AFTER HEARING FROM JAY POWELL
AND THE FED AND JOE BIDEN AND
HIS $5 TRILLION TAX HIKE, THE
DOW HAS STARTED PLUNGING AGAIN.
YOU HAVE GOT A FED CHAIRMAN WHO
THINKS HE HAS TO CRUSH THE
ECONOMY INSTEAD OF TARGETING
INFLATION PRICE INDEXES.
AND YOU HAVE A PRESIDENT BEING
DOMINATED BY THE SOCIALIST LEFT
OF HIS PARTY.
ARE BERNIE SANDERS AND ELIZABETH
WARREN RUNNING THE WHITE HOUSE?
>> THE SAD TRUTH IS THE
SOCIALISTS ARE IN CHARGE OF THE
WHITE HOUSE.
JOE BIDEN ISN’T.
BUT THE PEOPLE THEY SURROUNDED
HIM WITH, THEY HAVE A SIMPLE
APPROACH TOAFERG.
THEY WANT TO SPEND MONEY THEY
DON’T HAVE AND RAISE TAXES ON
YOU.
THEY UNLEASHED RECORD INFLATION.
THIS BUDGET BIDEN PUT OUT WOULD
CREATE A $50 TRILLION NATIONAL
DEBT.
THEIR VIEW IS THEY CAN KEEP
PRINTING MONEY AND BORROWING FROM CHINA.
FROM CHINA.
LARRY: PUTTING ASIDE THE ACTUAL
AUTHORS OF THE BIDEN BUDGET.
INDIVIDUALS, CAPITAL GAINS, AND
LET’S THROW IN MEDICARE TAX
HIKES ON WAGES AND INCOMES AND
SMALL BUSINESSES.
LET’S NOT FORGET THE SMALL
BUSINESS UNDER BIDEN TAX HIKES
WILL BE SLAMMED AND SLAUGHTERED
ALL OVER THE PLACE.
IF YOU TAX THE PRIMARY SOURCES
OF JOB CREATION AND GROWTH, YOU
WILL GET LESS JOB CREATION AND
LESS GROWTH.
THAT IS ARTHUR LAFFER *’S
VICTIM.
IF YOU RAISE THE CORPORATE
INCOME TAX FROM 21 TO 28%.
THE BIGGEST HARM COMES TO
TYPICAL WORKING FAMILIES TO PAY
THE BURDEN.
PEOPLE PAY TAXES, NOT
CORPORATIONS.
AND WE LOSE OUR INTERNATIONAL
COMPETITORS.
YOU ARE SETTING UP TALL BARRIERS
FOR CAPITAL INVESTMENT WHICH IS
THE SEED CORN OF THE ECONOMY.
THE NEGATIVE IMPACT OF HIGH TAX
RATES ON SAVINGS, INVESTMENT,
ENTREPRENEURSHIP WILL DO VAST
HARM TO THE ECONOMY.
BIDEN WAS TO PUNISH SUCCESS BUT
HE DOESN’T UNDERSTAND THE COMMON
SENSE POINT OF VIEW, IF IT
DOESN’T PAY AFTER TAX, YOU WILL
GET LESS WORK AND LESS
INVESTMENT.
IF CORPORATIONS ARE NOT
PROFITABLE AFTER TAX, THEY WILL
LAY OFF WORKERS AND FAMILY WAGES
AND INCOMES WILL FALL.
ALL THIS LEFT-WING SOCIALIST
STUFF HAS BEEN PROVEN A THOUSAND
TIMES.
WITH BIDEN HERE WE GO AGAIN.
HIS $5 TRILLION IN SO-CALLED TAX
HIKES, TAX REVENUE WILL NEVER
MATERIALIZE.
BETWEEN TAX AVOIDANS AND THE
LOSS OF ECONOMIC INCENTIVES.
HE WOULD PROBABLY GET NO MORE
THAN HALF OF THAT $5 TRILLION
REVENUES.
THE REAL PURPOSE OF BIDENOMICS
IS TO TAX WITH NO WORK
REQUIREMENTS.
HE WANTS AN EXPANDED EARNED
INCOME TAX CREDIT.
$325 BILLION IN PAID FAMILY AND
MEDICAL LEAVE.
$600 BILLION MORE IN UNIVERSAL
PRESCHOOL.
$200 BILLION IN SECONDARY
EDUCATION.
A COUP HUNDRED BILLION MORE IN
OBAMACARE SUBSIDIES.
THAT’S JUST TO NAME A FEW.
ALL OF THESE SOCIAL BENEFIT
INCREASES, NO WORK FARE.
HIS BUDGET IS DEAD ON ARRIVAL
THIS YEAR.
BUT STOCK MARKETS LOOK AHEAD,
AND STOCK MARKETS KNOW A FEW
STRAY VOTES IN 2024 COULD GIVE
YOU ANOTHER THREE-HOUSE
DEMOCRATIC SWEEP.
I HOPE NOT.
I WOULD BET AGAINST IT.
BUT YOU NEVER KNOW, DO YOU?