Every American is going to pay higher taxes due to the Biden administration’s policies. Remember that inflation is a hidden tax. It’s a powerful (and often unseen and unstoppable) way for a government to pay for its goods and services without raising visible taxes that make people angry. …Buffett’s private sector experience is reinforced by former Secretary of the Treasury and Ph.D. in economics Larry Summers, who warned during a forum that inflation indicators were “flashing red alarm” and that “all the signs are for inflation starting to break out.” …Inflation will grow because the Biden administration has no other technique for paying for the massive spending its various allies require.
