But Paul Krugman says not to worry. It didn't cause a big jump in CPI last time and it won't this time either. Peter Schiff talked about it in his podcast. He said when Krugman talks – nobody should listen.

With the ink barely dry on a $1.9 trillion stimulus bill, reports are circulating that the Biden administration is about to unveil another $3 trillion spending proposal. This round of stimulus will reportedly target the Democratic Party agenda, including infrastructure spending, funding for aspects of the "Green New Deal," and money to tackle "wealth disparity."

The spending plan will likely include tax increases. Of course, tax increases on "the rich" have been a Democrat mainstay for decades, but this plan may tax a little further down the income ladder than promised during the campaign. Peter said this shouldn't come as any surprise.

That's why when they asked Willie Sutton, 'Why do you rob banks?' he said, 'Well, that's where the money is.' Well, if you want to raise a lot of tax revenue, you can't just target the top-end earners. The money is lower down. It's the middle class, or the upper-middle class, that has a lot of money that you're going to need to tap into if you're planning on funding 3 to 4 trillion dollars worth of spending."

Peter said he thinks to the extent that that tax increases do target the wealthy, some Republicans will have a hard time voting against infrastructure spending that will supposedly benefit the masses of voters that is all going to be paid for "by the rich."

So, you lose the votes of the 1% to solidify the votes of the 99%. I mean, politicians can do math, right? That's the only thing they can add up – votes. And they know there are more votes at the 99%."