Biden’s Massive Hidden Tax Hike That You’ll Be Forced To Pay
I & I Editorial Board
May 5, 2021
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. They’ve forgotten how awful it is. Economically speaking, it’s the most devastating of all taxes, because it comes entirely from government. And citizens don’t realize they’re paying it until too late.
If you’re under 45, you might not understand. After all, more than 90% of your life has been spent with declining or even non-existent inflation. When you got a raise, your pay really went up. And when you went to the store to buy things, prices often were below where they were a year earlier.
But guess what? With a tidal wave of tax hikes and new spending from the Biden Democrats, a raft of new “green” federal regulations on the way, key global shortages of foodstuffs, a rising minimum wage, and tight markets for industrial goods such as lumber, steel and even microchips, not to mention a Fed that loves to print money, we may be on the verge of an inflation surge that could take down our financial markets and cut deeply into average Americans’ standard of living.
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https://issuesinsights.com/2021/05/05/bidens-massive-hidden-tax-hike-that-well-all-have-to-pay/
