The Hidden Tax: How Inflation Has Become Embedded in the US Economy under "Bidenomics"

Unraveling the Illusion of Bidenomics - the Inflation Crisis as Indirect Taxation

”Inflation” - Original artwork by Sam Kephart using prompts with Craiyon.com

Inflation, as any economics student will tell you, is a rise in the average price level of goods and services in an economy over a period of time.

However, what economic textbooks fail to mention is the insidious manner in which inflation has embedded itself in the U.S. economy, acting as an indirect tax on the population. The much-touted Bidenomics, unfortunately, seems more like a ruse than a solution to this escalating problem.

Inflation was once thought of as a temporary or cyclical phenomenon, however, it now threatens to become a permanent fixture in our economy. The U.S. is currently grappling with the highest inflation rates in 30 years. The consumer price index, a common measure of inflation, surged 6.2% in October from a year ago, the most significant jump since 1990.

This inflationary trend is more than just an economic indicator. It is an indirect tax that affects every American, particularly those in lower-income brackets. As prices rise, the purchasing power everyone’s dollar decreases. This means hard working Americans are now paying more for the same goods and services they used to buy at lower prices.

What's worse is that this inflationary tax is regressive. It disproportionately affects those who can least afford it. Lower-income individuals and families spend a greater portion of their income on necessities like food and fuel, whose prices have been skyrocketing.

Enter Bidenomics…. The Biden Administration's economic policy, dubbed "Bidenomics," promises to combat inflation and stimulate economic growth. However, a closer look raises serious concerns about its effectiveness.

Bidenomics largely revolves around massive spending on infrastructure, clean energy, and social programs. While these initiatives may have their merits, they are unlikely to solve the inflation problem in the short term. In fact, they could potentially exacerbate the situation by adding to the already soaring government debt and increasing demand in an economy where supply is constrained.

Moreover, Bidenomics aims to finance these programs through increased taxation on corporations and the wealthy. While this may sound like a fair solution, it fails to consider the potential repercussions. Higher corporate taxes almost always lead to reduced business investment, slower economic growth, and potentially more inflation.

While the intentions of Bidenomics may appear noble, its approach to tackling inflation seems more like a ruse than a viable solution. The current inflationary climate is a complex issue that requires nuanced and multifaceted solutions, beyond the scope of simple ‘tax-and-spend’ policies.

As we navigate through these economically turbulent times, it is crucial for policymakers to understand that inflation is not just an indicator on a chart. It’s an insidious tax that is eroding the purchasing power of American families, making it harder for them to meet their basic needs.

It's time we look beyond the veil of Bidenomics and work toward holistic, sustainable solutions that address the root causes of inflation (like stopping deficit spending and halting the money printing presses), rather than merely treating the symptoms.

On The Economy, Biden Struggles To Convince Voters Of His Success The New York Times

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