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Online rangerrebew

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‘Fared Terribly’: Price Of Middle Class Staples Has Exploded Under Biden-Harris Admin
« on: October 28, 2024, 05:41:18 am »

‘Fared Terribly’: Price Of Middle Class Staples Has Exploded Under Biden-Harris Admin
Opinion by Ireland Owens • 13h


Many of the traditional milestones of the American middle class have increasingly fallen out of reach under the Biden-Harris administration as high costs and expansive regulations bear down on average people.

The costs of buying a home or car or caring for one’s children have exploded since January 2021, when President Joe Biden and Vice President Kamala Harris first took office, compared to the amount average Americans are taking home in pay, according to calculations by the Daily Caller News Foundation. The American middle class’ purchasing power has been degraded by sky-high inflation under the Biden-Harris administration, while high interest rates and government intervention place even more pressure on everyday costs, experts told the DCNF.
 
“The American middle class has fared terribly since January 2021,” Peter Earle, senior economist at the American Institute for Economic Research, told the DCNF. “They’ve experienced the worst inflation in over 40 years, and interest rates are the highest they’ve been in well over a decade. Not only have they lost purchasing power to inflation, but shrinkflation has changed the size and quality of goods. Regulation has driven costs up and hindered hiring. On top of all that, they’ve been lied to repeatedly, watching their economic hardship increase while the administration tells them not to believe their own eyes or wallets.”

https://www.msn.com/en-us/news/opinion/fared-terribly-price-of-middle-class-staples-has-exploded-under-biden-harris-admin/ar-AA1t1vWK?ocid=anaheim-ntp-feeds&pc=HCTS&cvid=474f7ffc2cf84879bd9f509fd6315c16&ei=84
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Online rangerrebew

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Re: ‘Fared Terribly’: Price Of Middle Class Staples Has Exploded Under Biden-Harris Admin
« Reply #1 on: October 28, 2024, 05:42:54 am »
In her commercials, it's the middle class she vows to protect.  This must be a new way. :shrug:
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The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Offline andy58-in-nh

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Re: ‘Fared Terribly’: Price Of Middle Class Staples Has Exploded Under Biden-Harris Admin
« Reply #2 on: October 28, 2024, 08:11:56 am »
In respect of America's economic health, Democrats are making these two false arguments (among others):

(1) Prices have not gone up all that much, and are now stabilizing, and
(2) where prices have gone up, it is only due to corporate greed and "price-gouging".

Hence, they are denying the reality of government-induced inflation via excess liquidity/deficit spending and also evading responsibility for it.
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Offline DefiantMassRINO

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Re: ‘Fared Terribly’: Price Of Middle Class Staples Has Exploded Under Biden-Harris Admin
« Reply #3 on: October 28, 2024, 08:53:53 am »
Yesterday morning, I hit the motherload - manager's special at the supermarket - chicken drumsticks and thighs - $0.59/lb marked down from $1.29/lb.  The lowest price I've ever seen has been $0.69.

Prices are high for a variety of reasons:

- supply disruptions
- higher energy prices
- increased government regulations
- demand/supply imbalance
- higher wages
- non-competitive markets where monopolies, duopolies, oligrachies, cartels, etc. have pricing power

Higher wages place an additional tax burder on employers because it means an increase in the employer contribution to FICA taxes.
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Offline Smokin Joe

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Re: ‘Fared Terribly’: Price Of Middle Class Staples Has Exploded Under Biden-Harris Admin
« Reply #4 on: October 29, 2024, 12:39:16 am »
Quote from: DefiantMassRINO on October 28, 2024, 08:53:53 am
Yesterday morning, I hit the motherload - manager's special at the supermarket - chicken drumsticks and thighs - $0.59/lb marked down from $1.29/lb.  The lowest price I've ever seen has been $0.69.

Prices are high for a variety of reasons:

- supply disruptions
- higher energy prices
- increased government regulations
- demand/supply imbalance
- higher wages
- non-competitive markets where monopolies, duopolies, oligrachies, cartels, etc. have pricing power

Higher wages place an additional tax burder on employers because it means an increase in the employer contribution to FICA taxes.
Yeah, I caught a sale on 81% ground beef (the fat cooks out or can be skimmed off). $11 for a 3 lb chub. I have over 50 lbs sitting in the freezer now, and a pot of meaty chili brewing up in the crockpot.

The bottom line inflation driver is the cost of motor fuels. Everything uses them to be produced and shipped.
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Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

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