It must be something in the political sphere or maybe in the water because very strange things are happening.
Or maybe you don’t think there’s anything weird about the Washington Post owner blowing up Joe Biden over the past two days? By the way, what about the fact that the Washington Post has an editorial against Joe Biden or that Elon Musk is going to have his first Republican vote? This is really strange.
Mr. Bezos, who, of course, founded the Amazon empire, talks to squirrels in his latest White House repost:
“Look, squirrel! This is the White House statement on my recent tweets. They understandably want to confuse the topic. They know inflation hurts the neediest, but unions don’t cause inflation as well as the wealthy. Remember the administration tried…do their best to add 3.5” Another trillion dollars to federal spending. They failed, but if they succeed, inflation will be higher than it is today and inflation today is at a 40-year high.”
I’ll first take the squirrel. Immediately, Jeff Bezos! Except that unions are already causing inflation, which is why my Amazon is fighting unions across the country, but I digress.
You got the big picture right about Biden causing inflation to rise. The quick response came after the White House regressed to a good, old-fashioned, socialist, radical, progressive, billionaire-bashing big government.
Here it was: “It doesn’t take a giant leap to see why one of the richest people on earth would oppose a middle-class economic agenda.”
Bezos said the day before, “Indeed, the administration has tried so hard to inject more stimulus into an already scorching inflationary economy that only Manchin has saved them from themselves. Inflation is a regressive tax that hurts the richest. Disinformation doesn’t help the country.”
I also agree with that, particularly the Manchin part and then, what sparked the Bezos-Biden war, is that the Amazon founder said: “The newly created Disinformation Council should review this tweet, or maybe they need to form a new, non-serial board instead of That said, it’s OK to discuss raising corporate taxes. Taming inflation is crucial to the discussion. And merging them together is just a misdirection.”
Now, if that wasn’t weird enough, there’s more. My hero Elon Musk got into this business and supported Bezos, not Biden, by saying this. Listen:
Elon Musk: The obvious cause of inflation is that the government printed more than $1 billion of money, it turns out.
Before that, Elon Musk reiterated, “The real boss is the one who controls the prompt. You know, it’s like … the path to power is the path to the teleprompter.”
Then here’s Elon Musk’s election strategy. He says, “I’ve voted overwhelmingly for Democrats, historically. Overwhelmingly. I’m not sure I might have never voted Republican, just to be clear. Now, this election, I will.”
So, let’s count the ribs. So far, we’ve got Jeff Bezos and Elon Musk and the Washington Post editorial board: 3, President Biden: 0. Next thing you know, Mark Zuckerberg – who did his best to rig the 2020 election against Donald Trump – next thing you know, Joe Biden will be facing, too.
Anyway, regarding inflation, which is the public’s number one enemy, both Bezos and Musk are right. Government overstimulation drove prices up across the board, and the Washington Post editorial wrote, “To show voters that he’s on top of the problem, Mr. Biden needs to do more than blame someone else for the price hikes.”
It’s hard to know what it will take to change Biden. He has these traditional Democratic billionaires breathing by the neck. He’s doing opinion polls in his mid-30s, inflation is still high and yet Uncle Joe keeps talking about spending increases, canceling energy leases, and raising taxes – kind of hard to believe.
By the way, a quick word on Donald Trump’s corporate tax cuts. Business investment boosted big time. This leads to higher productivity and this leads to lower inflation. In other words, lowering corporate taxes leads to lower inflation.
I think Uncle Joe would love it. Also, lower corporate taxes incentivized US companies that kept their money abroad to bring the money home at a lower tax rate. In other words, they haven’t paid their fair share, but now they do, with nearly $2 trillion in cash brought home, and no more reversals for foreign companies to avoid paying US taxes.
I think Biden would love that. Oh, and did I mention that blue-collar family income jumped $5,000? I think a good Democrat would like it, but I would be wrong in these strange times. So, I’ll continue to push for the more budget-friendly plan that Newt Gingrich and I talked about on last night’s show.
Cut spending, keep the Trump tax cuts, go back to relaxed regulations — especially for fossil fuels — and work for the dollar. I will try to get Jeff Bezos and Elon Musk to agree to this plan. Save America, balance the budget.
This article is excerpted from Larry Kudlow’s opening comment on the May 17, 2022 edition of Kudlow.