Kudlow: Jeff Bezos has the right view on Biden’s inflation

It must be something in the political air, or maybe in the water, because very strange things are going on.

Or, don’t you think it’s any wonder the Washington Post boss has blasted Joe Biden over the past few days? By the way, how about a Washington Post editorial against the fact that Joe Biden or Elon Musk will have his first Republican vote? This gets really weird.

Of course, Mr. Bezos, who founded the Amazon empire, is talking to squirrels in his latest White House repost:

“Look, a squirrel! Here’s a statement from the White House on my recent tweet. It’s understandable that they want to confuse the topic. They know inflation hurts the most in need, but unions don’t cause inflation, Neither will the rich. Remember the government “they’re trying to… do their best to add another $3.5 trillion to federal spending.” They failed, but if they succeeded, inflation would be higher than it is today, where inflation is at its highest level in 40 years. ”

Jeff Bezos: White House tries to divert attention from inflation because they know it’s ‘people who need it most’

Jeff Bezos

Amazon CEO Jeff Bezos speaks during a news conference at the National Press Club in Washington, Thursday, Sept. 19, 2019. (AP Photo/Pablo Martinez Monsivais/AP)

I’ll go pick up the squirrel first. By the way, Jeff Bezos! Except, unions do cause inflation, which is why your Amazon is fighting unions all over the country, but I digress.

You have the right idea that the Biden family is causing higher inflation. This bizarre reaction comes after the White House re-emerges in some good, old-fashioned, big-government, socialist, radical, progressive billionaire bashing.

It goes like this: “It doesn’t take a giant leap to figure out why one of the richest people on earth opposes the economic agenda of the middle class.”

The day before, Bezos said: “In fact, only Manchin saved them from the government’s efforts to inject more stimulus into an already overheated, inflationary economy. Inflation is a regressive tax that hurts the poorest. Biggest. Misleading doesn’t help the country.”

I agree with this too, especially the Manchin part, then, what sparked this Bezos-Biden war was the Amazon founder saying, “The new Disinformation Commission should review this tweet, or they may need to Form a new non-Sequitur committee”

Now, if that’s not weird enough, there’s more. My hero Elon Musk got in on the action, and he said this in support of Bezos, not Biden. listen:

ELON MUSK sets forward conditions for Twitter purchases

Elon Musk attends the 2022 Met Gala on May 2, 2022 at the Metropolitan Museum of Art in New York City.  (Photo by Dimitrios Kambouris/Getty Images for The Metropolitan Museum/Vogue)

Elon Musk attends the 2022 Met Gala on May 2, 2022 at the Metropolitan Museum of Art in New York City. (Dimitrios Kambouris/Getty Images for The Metropolitan Museum/Vogue/Getty Images)

Elon Musk: The obvious reason for the inflation is that the government prints hundreds of millions of dollars more money than it used to, apparently.

Before that, Elon Musk really said, “The real president is who controls the teleprompter. You know, it’s like… the road to power is the road to the teleprompter.”

Then there’s Elon Musk’s election strategy. “Historically, I voted Democrats overwhelmingly,” he said. “Overwhelming. I’m not sure I’ll probably never vote Republicans, just to be clear. Now, this election, I will. of.”

So, let’s count the sides. So far we have Jeff Bezos, Elon Musk and the Washington Post editorial board: 3, President Biden: 0. Next thing you know, Mark Zuckerberg — who basically did his best to rig the 2020 election against Donald Trump — next thing you know, he’s coming out against Joe Biden too.

Regardless, Bezos and Musk are right about public enemy-first inflation. Too much government stimulus has pushed up prices across the board, with a Washington Post editorial saying: “To show voters he can fix things, Mr. Biden needs to do more than just blame others for high prices.”

It’s hard to know how to turn things around for Biden. He has these traditional Democratic billionaires gasping for breath around his neck. He was polling in the mid-30s, and inflation was still high, but Uncle Joe kept talking about spending more, getting rid of energy leases, and raising taxes—a bit unbelievable.

Wells Fargo CEO warns of U.S. downturn: ‘No doubt’

By the way, about Donald Trump’s corporate tax cuts. It greatly facilitates business investment. This leads to higher productivity, which leads to lower inflation. In other words, lower corporate taxes reduce inflation.

I think Uncle Joe will like it. In addition, lower corporate taxes have incentivized U.S. businesses that keep cash overseas to bring money home at lower rates. In other words, they didn’t pay their fair share, but now they’re paying nearly $2 trillion in cash, and no more foreign companies are inverting to avoid paying U.S. taxes.

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I think Biden would love it. Oh, and did I mention that blue-collar households have increased their income by $5,000? I think a good Democrat would love this, but I would be wrong in these odd times. So, I’m going to continue to push the growth budget plan that I talked about with Newt Gingrich on last night’s show.

Cut spending, keep Trump’s tax cuts, re-cut regulations — especially fossil fuels — and work for the coin. I will try to convince Jeff Bezos and Elon Musk to agree to this plan. Save America, balance the budget.

This article is adapted from Larry Kudlow’s opening remarks in the May 17, 2022 issue of Kudlow.

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