During the 2020 presidential election, Joe Biden promised not to raise taxes on anyone making less than $400,000. He vowed to stand up for the working class and to protect the paychecks of everyday Americans.
“Nobody making under 400,000 bucks would have their taxes raised, period, bingo,” Biden said in May 2020.
But Biden’s economic policies as president, which have led to rampant, runaway inflation on items Americans use every day, have broken that promise.
Americans for Tax Reform has a breakdown of price increases:
Gasoline has increased 49.6% in the past 12 months, 6.1% in October alone.
Used cars and trucks have increased 26.4% in the past 12 months.
Meats, poultry, and eggs have increased 11.9% in the past 12 months.
Beef has increased 20.1% in the past 12 months.
Bacon has increased 20.2% in the past 12 months.
Fresh fish and seafood have increased 11.0% in the past 12 months.
Furniture and bedding have increased 12.0% in the past 12 months.
Bread and crackers have increased 7.5% in the past 12 months.
TVs have increased 10.4% in the past 12 months.
Inflation is a tax that affects everyone, which is why polling shows the vast majority of Americans are concerned.
Inflation is now at 6.2%, which represents a huge tax increase on the working class. Joe Biden is a much worse version of Jimmy Carter & the idea that the government spending trillions more is going to make inflation lower, which is what they are arguing, is absolute insanity.
— Clay Travis (@ClayTravis) November 10, 2021
By all accounts, the threat posed by record inflation to the American people is not “transitory” and is instead getting worse. From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.
— Senator Joe Manchin (@Sen_JoeManchin) November 10, 2021
Inflation is going to DESTROY the middle class, and it’s up over 8% from this point last year. This is a TAX that hurts working families the most. What’s Biden doing about it? NOTHING! He doesn’t care about working class people – he only cares about his radical WOKE agenda.
— Ronny Jackson (@RonnyJacksonTX) November 9, 2021
The 8%plus jump in producer prices is a warning to the Biden Administration and the Congressional Democrats that they are playing with fire in passing more big spending bills which will drive inflation even higher. Every American feels the higher prices as a Biden inflation tax.
— Newt Gingrich (@newtgingrich) November 9, 2021
Inflation is a tax hike and a pay cut at the same time.
— Senator Michael Rulli (@michaelrulli) November 1, 2021
Inflation is costing American households an extra $175 a month.
This is a tax on hard-working families. pic.twitter.com/mauQCfuzwr
— Tim Scott (@SenatorTimScott) November 3, 2021
The White House has continually argued current inflation is “transitory” and a “high class” problem.