Wharton Study: Bidenflation Will Cost Families $3,500 This Year, Low-Incomes Hardest Hit

[mystery-ak]

Wharton Study: Bidenflation Will Cost Families $3,500 This Year, Low-Incomes Hardest Hit

Wendell Husebø 16 Dec 2021

Bidenflation will cost families an additional $3,500 this year, impacting low-income families the hardest, a study released Wednesday showed.

According to the University of Pennsylvania’s Wharton School’s budget model, Americans on average will have to spend $3,500 more in 2021 to sustain their consumption of years past in 2019 and 2020.

The study also suggests low-income families will be disproportionally impacted. The study estimated lower-income families will have to spend seven percent more money to maintain their previous consumption patterns, while higher-income families will only have to spend six percent more.

“Lower-income groups spent relatively more on food, energy, and shelter, while higher-income groups spent relatively more on other commodities and services,” the study states.

Across the consumption basket of income groups, the bottom 20 percent of families saw the price of their consumption increase 6.8 percent, or $2,120.

The top five percent of income-earning families will only experience a 6.1 percent ($7,636) increase in consumption.

more
https://www.breitbart.com/economy/2021/12/16/wharton-study-bidenflation-will-cost-families-3500-this-year-low-incomes-hardest-hit/

[Kamaji]

In other words, Biden and the democrats, through their profligate policies, are taking $3,500 away from the people who can least afford it - they are hurting precisely those people they claim to care the most about.

Since minorities are overrepresented in the lower economic classes, it's also racist.