"The sharpest tax President Biden is levying upon Americans is one that was never passed by Congress, promised from the White House, or voted on by citizens at the ballot box.
The invisible tax of rising inflation will do far more to harm working and middle-class Americans than Biden’s proposed tax hikes.
The trillions of dollars in congressional spending and money printing from the Federal Reserve is already having a dramatic effect on the price of ordinary goods.
Inflation has reached its highest point in years, and will likely reach the highest in two generations.
Over the past year,
- food prices are up 3.5 percent, with
- eggs and meat up by over 5 percent;
- gas is up 22 percent and is expected to get even higher by this summer;
- lumber is up 250 percent;
- new home prices are up $36,000, with overall housing up 11 percent; and
- new cars are up 9 percent, the highest in 68 years.
...Put it all together, and consumer prices are the highest they’ve been in eight and a half years. Economists now not only see the risk of inflation “higher than in the last two decades,”...
The primary driver of the current inflation comes through money printing by the Federal Reserve....Read all.
No comments:
Post a Comment