Inflation is Killing the Wages of Everyday Americans

Since Joe Biden got into the White House, he’s repeatedly claimed that anyone earning less than $400,000 per year won’t see their taxes increase.

This is an outright lie. Due to careless spending bills, a widespread tax known as inflation is here. Inflation also appears here to stay, as economists have no idea when it’ll die down.

The White House will not take responsibility for inflation. They’ve blamed it on Putin, called it “high-class problems,” and even tried to argue that inflation would help the economy.

Unfortunately, inflation has the worst impacts on Americans who are not high-income earners. According to The Blaze, inflation is eating the wages of everyday people alive.

Another Dark Chapter For the US Economy
A report from the Washington Examiner sheds light on just how much Americans are suffering because of Biden’s inflation crisis.

As inflation has reached an 8.5% rate, wage growth is teetering around the 0.3% mark. There is no competition here. There’s also no denying that this pattern is not sustainable. It certainly increases the likelihood of more poverty and a recession.

Even the White House has been forced to concede that inflation rates are higher than annual wage increases. According to former Obama economist Jason Furman, wages are likely declining over time, rather than growing.

There’s no mincing words here. As prices of groceries, living expenses, loan interest, etc., increase, wages are not even coming close to following suit.

All things considered, it’s no shock that Biden has some of the strongest disapproval ratings on his management of the economy.

Continued Economic Attacks From the White House
It’s bad enough that the Biden administration lacks solutions to the economic problems it created. However, what’s even more malicious than a lack of solutions is the intent to worsen the economy,

Biden, in real time, is working to further damage the economy by rallying for new spending bills. He wants trillions in new spending for COVID booster shots rollouts. That’s not to mention the president’s repeated work to revive the Build Back Better Act.

Americans also can’t forget the tens of billions of dollars that Biden’s sent over to Ukraine.

This president continues running up the national deficit as if economists aren’t projecting a recession within roughly one year’s time. In doing this, Biden is weeding out the middle class, creating a society of only the poor and the rich.

It will take this country years to undo all the economic damage caused by this president and his allies in Congress.