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Biden's 'Inflation Tax' Targets the Poor
and Middle Class

Original Article

Posted By: Moritz55, 5/20/2021 10:59:37 AM

President Biden has repeatedly promised that he won't raise taxes on American families earning less than $400,000 per year. Yet widespread and growing inflation due to his policies is -- at least indirectly -- breaking that promise. Call it the Biden inflation tax. Consumer prices have increased at an accelerated rate every month this year. In April, core inflation rose at its fastest month-over-month pace since 1981. The producer price index grew by the largest amount on record last month. Commodity prices are skyrocketing, with corn rising by more than 50% this year, lumber elevating to four times its traditional rate, and copper hitting a record high.

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Reply 1 - Posted by: GreatGreyhounds 5/20/2021 11:15:06 AM (No. 791578)
He’ll just take in a couple of million more from Hunters Chinese connections, and he’s set...
3 people like this.

Reply 2 - Posted by: downnout 5/20/2021 11:32:28 AM (No. 791602)
Just paid $3.06 per gallon in Florida.
2 people like this.

Reply 3 - Posted by: bad-hair 5/20/2021 11:42:43 AM (No. 791614)
In the mid 70's my parents had a pretty comfortable retirement plan, railroad pensions etc and by the time Carter got done they were back to work. If you liked Carter you will LOVE Biden. If you're too young to remember Carter, buckle up your seatbelt and start thinking gas lines and 18% mortgages.
9 people like this.

Reply 4 - Posted by: Ribicon 5/20/2021 12:42:16 PM (No. 791674)
Treasury Secretary Janet has common cause with Vladimir Lenin and the rest of the Marxist junta that hijacked and is dismantling the USA. "The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation." Intentional all the way. The flag looks the same, so we're not at war.
1 person likes this.

Reply 5 - Posted by: red1066 5/20/2021 12:52:09 PM (No. 791688)
Since so much of the economy has been shutdown for over a year, product shortages are a result. No workers, no products. D.C. doesn't understand this, and thinks people aren't buying things because they don't have any money. It's not the loss of money causing inflation, it's the loss of products to buy. Too much money chasing too few products.
1 person likes this.

Reply 6 - Posted by: navybrat 5/20/2021 12:59:25 PM (No. 791694)
Biden is not doing this. He is clueless. His handlers are doing all they can and moving quickly to bring down America. Biden is their puppet front man who just signs what he is told to sign. They keep him in line by protecting him from prosecution for his illegal money schemes and fake tax returns and keeping Hunter from being investigated and sent to prison. Hunter lied on the FBI form he filled out to get a gun and that alone would have sent anyone else to prison. His former business partner has emails from him proving his and dementia Joe's involvement in corrupt deals. The media and democrats do not care and apparently neither do republicans.
2 people like this.

Reply 7 - Posted by: JHHolliday 5/20/2021 2:31:00 PM (No. 791782)
As the article states, this hurts the poor and middle class the worst....the clerk who commutes 10-15 or more miles to work. $2.00 extra for each gallon of gas hurts workers just scraping by not to mention the tradesmen using their trucks or vans to travel to jobs. It's despicable. Trump had this country on a roll and oil independent then Biden comes along, stops the Keystone Pipeline for no logical reason and we are going to see gasoline double and triple in the next two years. It's actually what the left wants....remember the Obama official who said they wanted gas to cost as much or more than it is in Europe. The price of fuel affects everything. I have an Irish friend who said that prices in Ireland are 20% or higher than in the US. It's that way all over Europe and it doesn't hurt or matter to the wealthy globalists and the Davos crowd. We peasants are expected to just shut up and pay.
1 person likes this.

Reply 8 - Posted by: SamNJ 5/20/2021 2:54:11 PM (No. 791790)
Yesterday, a restaurant server told me that his former colleagues are refusing to return to work because they earn more by way of stimulus payments than they do by working. He added that many of them agree to return to work provided that they are paid in cash, off the books, so that they can continue to receive their stimulus money.
0 people like this.

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