Inflation is a cruel regressive tax, particularly hurting ordinary working people
Inflation Decreases the Purchasing Power of Your Paycheck
Inflation increases the cost of food, fuel, housing and all other goods we must buy to live. Our paychecks can purchase less and less in every pay period.
All the while, reckless spending programs continue to be pushed by Democrats in Congress and the Administration that will increase inflation to even higher levels in the coming months and years. Already inflation is higher than it has been since 1990 and it is feared that it is going far higher much more quickly than we thought possible.
source: tradingeconomics.com
This all occurred since the inauguration of Joe Biden. If we take the same chart that is shown above and blow it up to just see the last year, it is easy to see that inflation has reared its ugly head and grown entirely within the period of the Biden administration.
source: tradingeconomics.com
Does anyone believe that the Democrats will reverse course? That they will implement economic policies and governance that will do ANYTHING except increase inflation?
Republicans must first take full control of Congress in 2024 to stop the economic madness. Then, we must continue to work in order to replace a feckless President in 2024!