Biden’s Massive Hidden Tax Hike
That You’ll Be Forced To Pay
Issues & Insights,
by
The Editorial Board
Original Article
Posted By: RockyTCB,
5/5/2021 6:36:02 AM
You’re about to get hit with a huge tax. No it’s not to pay for the new infrastructure bill or the Green New Deal, which will cost trillions of dollars in new taxes, though they do play a role. Nor does it come from paying for the trillions of COVID-19 “stimulus” packages that Congress has passed, even as the economy roared out of its recession late last year. No, this tax is far more insidious than all that.
It’s inflation. A tax that costs everyone dearly, rich and poor alike.
Americans have gotten used to having little or no inflation.
Reply 1 - Posted by:
FunOne 5/5/2021 7:42:37 AM (No. 775811)
That ridiculous picture of the giant Bidens and the shrunk Carters brings back really bad memories of democrat economic policies during the Jimmy fiasco. Will we be seeing a return of the "misery index"? Not with this fake news toadies.
14 people like this.
Reply 2 - Posted by:
homefry 5/5/2021 7:47:50 AM (No. 775816)
ABOUT to get hit? Buy a piece of plywood, TODAY.
19 people like this.
Reply 3 - Posted by:
Venturer 5/5/2021 7:58:53 AM (No. 775825)
My deck need rebuilding, but the cost of pressure treated lumber is ridiculous.
It's gonna be a while before I buy any.
Food has gone up the wife's grocery budget has been constantly on the rise.
Gasoline is up,
There is no way that printing Trillion of dollars and handing it out to people who are not working and using it for Democrat's pet projects is not going to feed inflation.
20 people like this.
Reply 4 - Posted by:
Mizz Fixxit 5/5/2021 8:00:44 AM (No. 775826)
Commodity prices over last year...
Lumber: +265%
WTI Crude: +210%
Gasoline: +182%
Brent Crude +163%
Heating Oil: +107%
Corn: +84%
Copper: +83%
Soybeans: +72%
Silver: +65%
Sugar: +59%
Cotton: +54%
Platinum: +52%
Natural Gas: +43%
Palladium: +32%
Wheat: +19%
Coffee: +13%
Gold: +3%
Charlie Bilello
8:15 AM · Apr 20, 2021·Twitter Web App
9 people like this.
Reply 5 - Posted by:
RuckusTom 5/5/2021 8:06:28 AM (No. 775834)
The main way to take excess cash out of the economy to avoid inflation is to raise interest rates. Well, there's a big difference between 0% on $30T in debt (that's around $90000 owed by every man, woman and child in America) and 20% or 30% interest. Guess what all our taxes will be going towards? It won't the military or SS or Medicaid or Medicare or welfare. It will be paying the interest on our debt.
There was an article about a month ago that China will be dropping the dollar as its exchange currency when dealing with Iran and far East countries. Guess where those dollars are going to come flooding back to?
It's happened in the Weimar Republic, Cuba, Venezuela, Zimbabwe and Argentina. Who says it can't happen here?
9 people like this.
Reply 6 - Posted by:
Clinger 5/5/2021 8:09:42 AM (No. 775836)
Hidden? I guess I do accept that but of course only deliberate ignorance keeps it hidden. And the idiots think they got a stimulus check! Ha what fools, the average person has paid for that several times over by now.
7 people like this.
Reply 7 - Posted by:
czechlist 5/5/2021 8:20:23 AM (No. 775840)
Every time I hear Bidet say no one making less than $400k will see a tax increase and he is raising taxes so corporations will pay their fair share I want to scream! Not because it is a a blatant economic ally impossible lie, but because so many stupid Americans believe the dim scat.
15 people like this.
Reply 8 - Posted by:
zephyrgirl 5/5/2021 8:30:20 AM (No. 775846)
I remember the late 70s and 15% mortgage rates well - they shut me out of the real estate market until I was in my 30s, even though I was employed for the entire time. Those were ugly times with little hope of improving.
13 people like this.
Reply 9 - Posted by:
Avikingman 5/5/2021 9:03:59 AM (No. 775890)
Just remember, if prices are going up, it's the value of your dollar that's going down. You need more of them to get by.
Soon, under socialism you'll need a wheelbarrow full to buy a loaf of bread.
At that point they should put Bidet on the $3 bill.
9 people like this.
Reply 10 - Posted by:
navybrat 5/5/2021 9:12:01 AM (No. 775901)
Inflation has already hit. The price of wood is double ( I have a building project in progress). The cost of groceries has increased. The price has gone up on just about everything I buy.
11 people like this.
Reply 11 - Posted by:
lakerman1 5/5/2021 9:15:32 AM (No. 775910)
The fiscal insanity began under LBJ, and continued under Nixon, who famously said, "I am a Keynesian!," and behaved accordingly.
Ford was stuck with the consequences of prior fiscal policies, and came up with a sily solution - a lapel pin that read WIN - whip inflation now.
Jimmy Carter suffered the consequences of prior presidents' policies. (Nixon floated the dollar, you may recall.)
And his own foibles - pollution controls on cars, high mileage requirements, which turned new cars into plastic fragile junkheaps-
5 people like this.
Reply 12 - Posted by:
bighambone 5/5/2021 9:17:50 AM (No. 775913)
Watch when the poop hits the fan with raising inflation, especially how Biden and Harris attempt to blame Trump for another leftist and liberal Democrat disaster hitting the country.
8 people like this.
Reply 13 - Posted by:
Strike3 5/5/2021 9:20:32 AM (No. 775918)
But, but... I made less than four hundred thousand last year. Joe said...
#3, I just finished rebuilding my deck. It was painful but it wasn't going to hold me up for another three years, or however long it takes us to clean out Washington.
6 people like this.
Reply 14 - Posted by:
MDConservative 5/5/2021 10:34:13 AM (No. 776002)
Remember 15 August 1971...the day the US cut the US dollar ties to gold, creating a fiat currency. Inflation? That under a Republican administration. Been there, done that. If you can't pay the bill devalue the currency 20 or 30 percent until you can. I'm sure the Fed will keep it all under control...a contained burn, if you will...start looking for your WIN buttons. And don't blame Biden...we've been in an era of too easy money since Clinton and Dubya.
4 people like this.
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