Is Raising Taxes in a Time of Inflation a Fatal Mistake? Voters Think So

In this week’s WG Economy, David Winston from The Winston Group highlights the growing concern over tax increases amid ongoing inflation. Despite recent positive inflation news with a lower year-over-year CPI rate (2.3%), nearly half of the electorate (49%) still believes inflation is worsening. The survey, conducted between May 13-15, reveals strong opposition to tax hikes during this inflationary period, with 62% of voters against raising taxes, especially businesses, as they believe it will lead to higher consumer costs. This sentiment holds across political lines, with conservatives, Republicans, and independents in strong agreement. David also shares insights from their research for the S Corporation Association, showing the public’s concern about the potential consequences of tax increases during uncertain economic times.