Joe Biden continues to find new ways to damage America.
Now Biden hit Americans in the pocketbook.
And Tucker Carlson exposed the secret way Joe Biden imposed the biggest tax hike ever.
The latest report from the government showed inflation shot up 7.9 percent year-over-year from February 2021 to February 2022.
Even former Obama administration economic advisor Steve Rattner admitted the blame for this inflation lay at the feet of Joe Biden.
But at the House Democrats retreat Joe Biden falsely claimed that the government spending trillions of dollars on socialist welfare schemes had nothing to do with skyrocketing prices.
“We’re on track right now. I’m on track to be the first president in history to lower the deficit by over 1 trillion dollars in one year. So, I’m sick of this stuff. We have to talk about it, because the American people think the reason for inflation is government spending more money. Simply not true,” Biden stated.
Tucker Carlson played the clip of these comments and debunked Biden’s lies.
Carlson explained how inflation works.
As the government prints more money there are now too many dollars in the system chasing too few goods.
The rules of supply and demand are unbreakable and as the supply of money increases, the less valuable it becomes and thus there is inflation.
“Notice he doesn’t tell you how it’s simply not true because, in fact, it is emphatically, unequivocally true. Inflation is a function of money supply. The more money you have in circulation, the less that money is worth. Even Joe Biden understands that. The month after Biden became president, the supply of U.S. dollars in circulation increased more than it ever had before in a single month, and then it kept going higher month, after month, after month as the administration and the Congress kept the money taps open, and that’s why we have historic inflation now, because they printed too much money. It’s not complicated, but it’s not the whole story. It did not start with Joe Biden, to be fair,” Carlson stated.
Carlson added that because of the Biden administration’s disastrous policies inflation caused the price of commodities to shoot to obscene levels leading to what is the largest tax increase in American history.
“Thanks to the Biden administration’s mismanagement, commodities across the board are up dramatically — potash, fertilizers, wheat — huge. Nickel went up 250 percent in two days. Who’s going to pay for all this? You are. This is the biggest tax increase of your life, and, by the way, it could very easily get worse. Why? Because oil is traded in U.S. dollars. Ever hear the term petrodollars?” Carlson continued.
Economists put a number of how badly Joe Biden’s inflation socked the American people to the tune of over $2,500 per year.
“Having inflation at 7.5% on a year-ago basis, compared with the 2.1% average growth in 2018 and 2019, is costing the average household $276 per month,” Moody’s senior economist Ryan Sweet told Bloomberg.
Inflation is described as the most regressive tax because it hits working class Americans the hardest.
And thanks to Joe Biden’s socialist spending spree, every American is on average about $2,500 per year poorer.
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