Things will only get worse under Biden.
Recently on “The Cats Roundtable,” former Trump economic advisor Larry Kudlow exposed President Joe Biden and his administration for trying to outrageously double the capital gains tax.
According to Breitbart, Kudlow stated, “[I]f they get rid of the filibuster, then a lot of the legislative agenda will go through. And of course Mitch McConnell is going to fight it. And McConnell has other Senate rules that he could use to slow the train down, but I think that’s a big problem, and this the first time that I’ve heard President Biden really adamantly saying the filibuster has to change. He had been lukewarm on that before, but now it’s very clear to me he wants it to change. And it’ll be up to the GOP to stop it.”
Kudlow then said, “[M]ost of these initiatives are anti-business. A lot of class warfare against wealthy people … and raise the capital gains tax, double the capital gains tax. So, yeah, this is a big thing. I think that’s one of the key points that came out of the press conference.”
Adding, “You’re not going to be competitive around the world. You’re not going to bring investment home. You’re going to repel investment. Corporations will leave. Inversions will start all over again. If we wage war on businesses and wealthy investors, that is nuts. And that’s part of this class warfare that will do great harm to our economy and to the stock market.”
You can listen to Kudlow’s comments here.