Who does inflation hurt?

A (lower middle class) vs B (upper class) 

A — family takes home $1,000 per week.

Groceries go from $150 to $250. Gas goes from $30 to $70. 

-$140 per week. Or 14% of take home. 

Rent goes from $1,500 to $2,000 

-$500 — -$125 per week or 12.5% of take home. 

Does not have a real estate or stock portfolio 

B — family takes home $10,000 per week. 

Groceries go from $150 to $250. Gas goes from $30 to $70.

-$140 or 1.4% of take home. 

Mortgage payment stays the same. Or refi at a lower rate and mortgage payment goes down. 

Stock and real estate portfolio increases significantly. 

People on government assistance are not affected per se. 

However, climbing the social status ladder from poor to lower middle class does not seem attractive at all. 

There is no incentive.

”Well the world needs ditch diggers too”

- Judge Smails

Purchasing power of $100 over time:

1950 - $100
1960 - $80.41
1970 - $61.34
1980 - $28.88
1990 - $18.21
2000 -$13.82
2010 - $10.91
2021 - $8.7

In 70 years, $100 dollars lost 91.3% of its real value

“Inflation is the most regressive tax of all, yet is advocated by those who claim to be progressive” — Elon Musk 

Inflation increases poverty, the problem of poverty is aggravated when the prices of commodities increase. Another reason is that when nominal wages increase less than the price of goods consumed by wage earners then automatically the worker's real wages decline.

Households that rely on natural gas for heating could spend an average of $746 to heat their homes this winter, up 30% from last winter.

Biden’s ‘Infrastructure’ Bill Signals A Death Sentence For Natural Gas

https://www.forbes.com/sites/davidblackmon/2021/04/05/bidens-infrastructure-bill-signals-a-death-sentence-for-natural-gas/?sh=5c5026335891

"InFlAtIoN iS TrAnSiToRy"

@I_Need_A_Detox

Forces some people to become now reliant on the government.    It's a powerful weapon for democrats. 

Inflation continues 

Which party showed up and which party did not show up to confirm nominees for Fed Reserve board which will contend with the current inflation?

All about Raskin.

Senate Republicans have questioned whether Raskin improperly used her connections at the Federal Reserve to win access to a central bank master account for Reserve Trust, a fin-tech company where she served on the board of directors.

Fed policymakers are widely expected to begin raising interest rates in an effort to lower inflation at their next meeting in March. That meeting will proceed, even if the confirmation standoff is not resolved by then.

Nothing but bullcrap finger pointing and blaming. 

Gas is $4.94 per gallon in California 

Probably just a coincidence they’re the furthest left 

GaS pRiCeS don’t have anything to do with PoLiTiCs 

If you Google gasoline taxes by state do not be fooled. There is more!

In California the gas tax is 51 cents a gallon. Add to that 18 cents more to the Feds, add to that sales tax of 10 cent avg of different regions, add to that Low Carbon Gas Programs 22 cents, Greenhouse Gas Programs 15 cents, Underground Tank Storage 2 cents. 

A total of $1.18 per gallon. 

I could get diesel in Bullhead City AZ right now for 3.34.9, drive 167 miles west on I-40 to Barstow CA and the best I find is 4.99.9. 

I think PA has the highest gas tax in the country

Why would truckers even want to drive in CA with the crazy amount of taxes!? They avoid CA at all (literal) costs. So now supplies become more scarce which helps add to inflation. Truck drivers would pass on work rather than drive in CA because the taxes eat away any sort of profit they might make. But hey, it's ok, CA is going to have all electric cars in a few years. CA also gonna have a super duper high speed bullet train. Wait, there's no infrastructure to support 100% electric cars, is there? There's not even close to enough money to finish the train that CA thinks will completely change the driving habits (who would have thought most workers are working from home and not commuting as much). Liberal logic = more taxes means more business. Oh wait, higher taxes are actually driving businesses away? Who woulda thunk it?! 

Do not forget the "fees" and local sales tax. California beats them all.

But Michigan's Dem Govenor Whitmer wanted to be #1  in gas taxes.

In a 2018 debate with republican Schuette ; 

“Gretchen Whitmer wants to have a 20-cent gas increase,” her Republican general election opponent Bill Schuette said during the Oct. 12 debate in Grand Rapids.

That’s ridiculous,” Whitmer replied, telling Schuette his assertion was “nonsense, and you know it.”

Five months into office Whitmer proposed a 45 cent gas tax increase that the republican legislature promptly shutdown! 

https://www.detroitnews.com/story/news/politics/2019/03/06/whitmer-flak-calling-gas-tax-hike-ridiculous/3081060002/

Food prices are soaring at a record pace, rising another 13% in March.

Never seen it so bad!! Beats Jimmy Carter years and only getting worse. 

Feel really bad for young kids starting out. This admin does not give a flying fk about Americans, only how they themselves can benefit and stay in power!

The vaccine is almost useless and they know it. As if they want another covid emergency. 

Wait until those student loans get paused even longer. Everyone thinks debts should be cancelled but they don't realize what's actually behind those debts and what those debts are holding up. Nothing is free.