Estes: Wages Aren’t Keeping Up with President Biden’s Inflation Tax
Reckless government spending is fueling the inflation fire, which has raised prices on American families for over a year, warns Ways and Means Republican Rep. Ron Estes (R-KS) in an op-ed for The Derby Informer:
- “Analysis from Bloomberg estimates that Americans will have to spend an additional $5,200 for the same goods they purchased last year – an additional $433 per month.
- Wages simply aren’t keeping up with these out-of-control prices, making inflation a tax on families in Derby and throughout south-central Kansas.”
- “While Putin’s invasion of Ukraine certainly doesn’t help this situation, it’s not how this all started. Rising prices began well before Russian forces had invaded. We’ve seen this trend for more than a year – January inflation was 7.5 percent.”
- “In addition to lowering gas prices, we must decrease the government spending that contributes to rising prices.”
- “Yet President Biden and Speaker Pelosi continue piling more government spending onto the backs of taxpayers. We are paying for their reckless spending today through rising prices, and our children, grandchildren and great-grandchildren will someday pay for it all.”
CLICK HERE to read the full op-ed.
Accelerating inflation has been hammering American families for over a year:
- Economic experts and the San Francisco Federal Reserve have warned that Democrats’ policies – like monthly government stimulus checks and unemployment bonuses – have directly increased inflation.
- American minorities continue to suffer the most under Bidenflation, with 35 percent of Black, Hispanic, Asian-American, and other non-white Americans reporting that inflation is causing “major financial strain.”
- With inflation outpacing paychecks and higher costs being passed onto American families at every turn, the U.S. economy is on the brink of, or already in, a wage-price spiral, driving inflation even higher.
Democrats are doubling down on crippling tax hikes and runaway spending:
- Despite 40-year high inflation, President Biden’s latest budget proposal includes tax hikes that hit working families and Main Street job creators.
- President Biden’s tax hikes would slash family wages across income levels, while destroying at least 138,000 U.S. jobs.