Inflation is just another way that the government steals your money. The first way is taxation.
The second way is borrowing (God help us if the Legislature ever gives the UW its borrowing authority), and the third way is inflation. Inflation is caused by too much money chasing too few goods. The government (via the geniuses at the Fed) prints too much money because doing so is free to them; it’s not borrowing or taxing, so those in power think it’s a secret way to create more money without suffering the wrath of the people. In this case, Biden printed $6 trillion.
What’s the true impact of inflation? It’s when the UW raises the price of tuition so high that working full-time year-round can’t cover the cost, as compared to when I was in college; back in the 1980’s, I could work full-time for the summer only and cover the cost of my tuition for the entire year. That’s inflation. Likewise, when I was in college, a one-day ski pass cost me $22.
That was equal to 6.28 hours of work. Today, a ski pass at the same major western resorts will cost $300! Insane. At $15 per hour, that’s 20 hours of work, or more than three times the work for the same benefit. That’s inflation.
Eggs are another great example. A dozen used to cost less than a dollar 20 years ago, but under Biden, the price shot up to almost $5! Eggs used to be the most affordable protein, a great way for college students or those with less money to feed themselves, but nope, not under Biden. Biden’s administration has also caused a number of shortages, causing the prices to skyrocket. Baby formula, oil and energy, and more. I cite baby formula as a prime example of Bidenomics – his administration shut down a plant-making formula – causing supplies to dwindle and prices to soar, but hey, he doesn’t care. He’s in la-la land.
And the people who work for him don’t have a clue what they are doing, which is why we have this extreme inflation. Shut down the economy, close manufacturing plants, shut down pipelines, cut off supplies, and you’ll have a disaster manufactured by the Democrats and their allies in the media. And we all know what a disaster is good for – so they can justify stealing your stuff and stealing your freedom – telling you what you can and cannot do, where you can go, what you can buy, and who you can stand near within six feet.
Forget all the other issues; it’s about freedom. If you love freedom, vote Republican; if you love a big government that is going to dictate to you precisely every move in your life, vote for Democrats. All the other issues can be debated, but freedom is not debatable. And they’re out to steal it, just like Hitler, Stalin, and all the other dictators of world history; the progressive wing of the Democratic Party is just more sneaky about it.
And now they’ve figured out another way to steal your hard-earned money – through inflation. Do you think this is by accident? It ain’t. The Dems are fully aware that as you earn more money, you bump into higher and higher tax brackets on every marginal dollar you earn. With inflation, they’ve managed to force up wages – which will allow them to extract more tax revenue out of you – but you don’t have any more buying power due to inflation in the price of goods and services.
So you find yourself earning more on paper but taking home less – first, because you’ll pay more in taxes (surprise America, many of you are just figuring this out this year when you file your tax returns). When you consider your net income after taxes, you then have less to buy stuff with – but with the prices so high, you can’t buy as much as you used to either. So you’re actually worse off with your higher wages, given Biden’s inflation and your higher taxes.
But America gets what it deserves; so long as half the country votes for this idiot and a few others can cheat their way into extra votes, they can control the election outcomes. Back in the 1980’s, that wasn’t true, and the American people proved that they were smarter by voting out the prior inflation king, Jimmy Carter. But here we have a worse situation, and they’ll still vote for Biden. Where does it end? Badly, unfortunately.
T. Wall holds a degree from the UW in economics and an M.S. in real estate analysis and valuation and is a real estate developer. Disclaimer: The opinions of the writer are not necessarily those of this publication or the left!