Joe Biden has taken a wrecking ball to the American economy since taking office.

He believes working class Americans are too stupid to notice one disaster he’s unleashed.

And Kevin O’Leary spilled the beans on this dirty Joe Biden trick that’s putting the country through hell.

The bad news is still there on inflation

President Joe Biden created the worst inflation crisis in at least four decades when he and his fellow ruling class elites in both parties dumped trillions of dollars in wasteful stimulus into the economy using the COVID pandemic as cover.

He continued to try and claim that inflation was temporary until that lie became too obvious.

Biden continues to claim that the country has turned the corner on inflation, but it still remains well above the Federal Reserve’s target rate of 2%, and the low-levels seen under former President Donald Trump.

The latest disappointing inflation report proved that the issue is not going away before Election Day, much to the chagrin of Democrats

O’Leary reveals Joe Biden’s hidden tax on the working class

Shark Tank star Kevin O’Leary appeared on Fox Business and he warned of the threat President Biden’s proposed tax increases pose to the American economy.

Trump’s landmark 2017 tax cuts are set to expire next year, setting the stage in Washington, D.C. for yet another major fight over the amount of taxes working class Americans should be forced to pay.

O’Leary said that inflation is already acting as a hidden tax on the working class.

“Then if you tax again on top of [inflation then] you’re squeezing growth out of the economy,” O’Leary explained.

Biden has proposed a massive increase in the capital gains tax, which would make America’s capital gains tax the highest in the developed world.

The Shark Tank star added that there was a 100% chance that the working class would get hit with Biden’s tax increases despite the Democrat President’s claims to the contrary.

“Obviously you do this because you’re in an election cycle and taxing the rich is always a good message,” O’Leary said. “That rhetoric has gone on for decades.”

“However, imposing tax hikes right now on the US economy is a mistake because you’ve got high inflation still and that’s becoming a problem obviously,” he added.

Biden claimed that no one making under $400,000 annually would see a tax increase under his regime.

But O’Leary pointed out that the Democrat President has already broken that promise.

“When you have inflation that is a hidden tax on the middle class obviously,” O’Leary said. “And then if you tax again on top of that you’re squeezing growth out of the economy.”

Biden didn’t want to raise taxes to go on his reckless spending spree. 

To pay for it, he unleashed inflation which acts as a hidden tax by devaluing the dollar and robbing it of its purchasing power.

Americans were always going to pay for it one way or another.

O’Leary pointed out that Biden’s proposed tax increases would take productive money out of the economy and send it to the government.

“It is a very simple equation, when the government takes money from the individual they can no longer invest that in a business, or in their retirement or anywhere else,” O’Leary explained. “It goes in the meat grinder of government which as we all know is wasteful in some ways and inflationary of late because we’ve had all these bills, such as the Chips Act, the Inflation Reduction Act.”

Joe Biden made Americans’ money worth less to pay for his socialist spending spree.