Click here to view original web page at www.based-politics.com
Flickr/Gage Skidmore This week we got more astounding numbers showing inflation continuing to surge out of control. But beyond these big-picture headlines, we’re also gaining more insight into what this economic carnage actually means for everyday people.
With consumer prices rising 9.1% from June 2021 to June 2022, inflation is now at the highest level since 1981. Thanks to this inflation, workers’ real wages, or wages accounting for inflation, are actually in decline, falling significantly over the last year.
How’s that for “Build Back Better?”
New analysis from the Heritage Foundation’s E.J. Antoni puts these figures in tangible, everyday terms. He reported that the average worker has lost $3,400 in annual income due to inflation since President Joe Biden took office, while the average household with two working parents has lost $6,800.
“There are plenty of families that that’s more than their food budget a year,” Antoni told Fox Business. “I can’t emphasize enough how much this is really crushing consumers.”
The expert added that the costs of inflation have now added up to far more in losses for workers or households than they received in total stimulus checks.
Antoni’s specific data bring the real consequences of inflation into focus. In effect, inflation is a “stealth tax” on the public — a way the government confiscates and redistributes resources without formally raising our taxes. This lets politicians escape the political backlash that comes with raising people’s taxes — if people aren’t wise to what’s going on.
But we should be holding our elected officials accountable for the suffering because inflation is rooted in policy choices.The federal government decided to print trillions of dollars out of thin air to “stimulate” the economy during COVID-19, but all it really did was make the dollars in existence less valuable. What’s more, it ran up trillions in budget deficits and […]
Click here to view original web page at www.based-politics.com
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We have a Giving Fuel page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!
JD Rucker