KUDLOW: It's bad enough that president Biden and the Democratic congressional leaders essentially double-crossed the GOP bipartisan infrastructure package including the Democrats who participated and it's really bad that Pelosi and company are holding the infrastructure package hostage, to a tsunami of tax hikes and massive entitlement increases all of which will do great damage to the economy, but today president Biden is now comparing his multi-trillion dollar boatload of new entitlements to tax cuts….
They're not tax cuts. They are spending. They are permanent spending. They are government cash payments without any work qualifications or other employment incentives. They are middle-class entitlements….
Make no mistake about it, this would be the biggest entitlement increase in 56 years. And allegedly to finance it, there would be a minimal $2 trillion tax hike, probably closer to $3 trillion. As I mentioned last night, let’s not forget when we talk reconciliation we're talking about the Biden assault on success, investment, business, a surrender to foreign organizations - like G-7 and G-20 to tax American businesses even more … Again, that's the meaning of this word reconciliation. It sounds like an innocent process word, which it is, but behind it, the actual meaning is a dreadful prosperity-killing tsunami -- literally a binge -- of higher taxes and entitlements.
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