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Here’s How Biden’s Spending Could Become A Hidden Tax On Everything You Purchase

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mystery-ak:
Here’s How Biden’s Spending Could Become A Hidden Tax On Everything You Purchase


Andrew Trunsky
Political Reporter
May 12, 2021 8:07 PM ET


    As the U.S. climbs out of a once-in-a-century pandemic, rising prices have led to increasing worry that rapid inflation could be just over the horizon.
    “In the short term, consumers can expect to see rising prices across the board,” Henry Olsen, a senior fellow at the Ethics and Public Policy Center, told the Daily Caller News Foundation. “I expect in the next few months people will be getting sticker shocked in virtually all aspects of their life.”
    Though President Joe Biden’s relief package may not be the primary contributor to the rise in prices witnessed in recent weeks, experts say, his administration has proposed a $2.3 trillion American Jobs Plan and $1.8 trillion American Families Plan, which could pump an unprecedented $6.1 trillion into the economy in under two years.
    “If Biden sees his six trillion, you’re going to see fuel added to the fire,” Olsen warned. “If he is talking about increasing government spending  by $600 billion a year for as far as the eye can see, that will add to the inflationary pressures already existing.”

As the U.S. climbs out of a once-in-a-century pandemic, rising prices have led to increasing worry that rapid inflation could be just over the horizon.

Americans have already witnessed higher prices in the past few months, with everything from gasoline to lumber to basic home items jumping in cost. The increases, partially fueled by non-existent interest rates and record government spending, could lead to inflation that the U.S. has not seen in decades, experts say.

“In the short term, consumers can expect to see rising prices across the board,” Henry Olsen, a senior fellow at the Ethics and Public Policy Center and a columnist at The Washington Post, told the Daily Caller News Foundation. “I expect in the next few months people will be getting sticker shocked in virtually all aspects of their life.”

Peter Schiff, the chief economist and global strategist of Euro Pacific Capital, warned in an interview with the DCNF that the “very substantial” decline Americans could witness in their standard of living is a result of heightened federal spending throughout the pandemic.

“People are going to be paying higher insurance, they’re going to be paying higher property taxes, local tax, utility rates are going to go way up,” Schiff said. “The 100% cause of inflation is the government … It’s when the government spends money that it doesn’t collect in taxes and then the Federal Reserve monetizes the resulting deficits by printing money.”

more
https://dailycaller.com/2021/05/12/joe-biden-spending-inflation-hidden-tax-everything-purchase-coronavirus/

Bigun:
Here’s How Biden’s Spending CouldWill Become A Hidden Tax On Everything You Purchase

Headline corrected! And the fact is that it already has happened!

GtHawk:

--- Quote from: Bigun on May 13, 2021, 02:53:17 pm ---Here’s How Biden’s Spending CouldWill Become A Hidden Tax On Everything You Purchase

Headline corrected! And the fact is that it already has happened!

--- End quote ---
You mean like, as Buttjigger said, making corporations pay their fair share? As if any one with even half a brain, sorry Joe and democrats, doesn't know that corporations don't pay taxes their customers do.

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