Inflation is a tax on hardworking Americans. Biden’s policies are bleeding them dry.
Spending doesn't cause inflation unless there is no slack in the economy available to absorb the added dollars. Also, if you are truly concerned about the quantity of money taxation serves the same purpose as reduced spending to bring it down.
How about we spend on people who don't have any money and tax those who have a lot? Not your thing? Didn't think so.
Higher prices disproportionately impact the bottom quartile of income earners. Low-income families are more likely to pay for items, such as rent, milk, and gasoline, that are inflating at a higher rate.
With a pandemic destroying supply chains and people fearful to return to work that might mean their death the higher prices we've seen are the result of supply shortages, not unlike the price shock of petroleum products in the '70s. This is "price-push" inflation and will work itself out once the supply chains are restored. Or, don't you believe in the free market?
Much of this can be laid directly at the feet of Wall St and its demand for constantly increasing returns. Suppliers and manufacturers were forced into "just in time" inventory practices to hold down costs. That left no supply slack in the economy to mitigate the shock of everything shutting down. This is unavoidable and to not provide working class consumers with the means to purchase basic necessities would be cruel and inhumane.
However, funding these programs requires blue collar workers to subsidize white collar workers.
"Funding" anything at the federal level doesn't involve anyone subsidizing anyone else. Biden wants to raise taxes on those making more than "$400k simply because they make too much money, not to "pay for" anything.
The fact that every expenditure must be explained in antiquated gold standard logic to coddle the econ illiterate voters, in spite of being total nonsense since '34, makes this the "price the wealthy must pay" for supporting BS econ. They tainted the water, and now they'll be forced to swim in it.
We can continue with reckless spending packages that pass costs off to consumers and breed government dependence, or we can empower job creators and families to make decisions that work best for them.
The luster is about worn off from that whole "job creator" thing. No segment of the population has been more "empowered" for the last few decades than those who claim that title and the best they could do was a bunch of service and gig jobs that don't pay enough to live on or require twice the hours an "average" job required in the 70s that "did" pay the bills? Just feel lucky Bernie didn't win the nomination in '20. Biden is the compromise for what we really need.
