Anthony Scaramucci, founder of global investment firm SkyBridge Capital, highlighted concerns that politicians in the West have not fulfilled their promises and are using inflation, which he described as “coward tax”, to finance growing obligations.
Elevated Debt Levels
In a Monday post on X, Scaramucci said that “Politicians in the West have overpromised the electorate and undertaxed them for decades.”
He pointed to a rapid rise in debt levels under recent administrations, saying that George Washington to George W. Bush have accumulated $7 trillion in debt, while Barack Obama, Joe Biden and Donald Trump added another $31 trillion.
Former White House communications director said, “That’s not sustainable and someone has to pay for it eventually.”
The U.S. is sitting on a record $39 trillion national debt, which is now larger than the entire economy. The debt reached 100.2% of gross domestic product at the end of March, a level not seen since the aftermath of World War II.
The national debt is projected to hit $40 trillion by the November elections.
Higher Inflation
Scaramucci stated, “Our politicians have chosen the most pernicious and regressive way to collect – inflation.”
Inflation has risen sharply, eroding the value of the dollar and forcing “working people to absorb the loss without ever having to vote on it.” He said, It’s a coward’s tax and the people who can least afford it pay the most.”
Tax Burden
A Pew Research Center survey, conducted in January 2026, highlights a significant frustration among the populace regarding the tax obligations of wealthy individuals and corporations. About 60% of Americans feel they pay more than their fair share in federal taxes, a rise from 56% in 2023.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
Photo Courtesy: Al Teich On Shutterstock
Recent Comments