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That explains nothing.When Trump left office the virus was still raging...people were still dying by the thousands and only a tiny fraction of the population had been vaccinated
So you have no facts to dispute their findings.
If the pandemic caused inflation why was it about 1.4% when Trump left office?
And the inflation rate for PPI was over 11% for June, Simp.
Wholesale prices shoot up near-record 11.3% in June on surge in energy costs
The producer price index, a measure of the prices received at the wholesale level, increased 11.3% from a year ago.www.cnbc.com
I just provided a link showing the PPI up 11%, Simp. So where are "raw products" dropping?Some of it was very clearly due to companies increasing their profit margins and blaming it on inflation. Many companies are making more money than they have in decades. This is especially acute in industries where there is little or no competition. They have decided they can make more money by keeping prices high. Secondly, raw products are dropping. Gas has dropped for 7 weeks in a row. The real question is whether these companies will pass these savings on or will they keep it all? Companies are greedy and if they want to be greedy then taxes should be raised and lowered on ordinary people.
That's bullshit. Why should now be better time for that than any other time? All these leftwing theories about greed are so obviously full of shit that it's hard to believe anyone is stupid enough to fall for them.Some of it was very clearly due to companies increasing their profit margins and blaming it on inflation. Many companies are making more money than they have in decades. This is especially acute in industries where there is little or no competition. They have decided they can make more money by keeping prices high. Secondly, raw products are dropping. Gas has dropped for 7 weeks in a row. The real question is whether these companies will pass these savings on or will they keep it all? Companies are greedy and if they want to be greedy then taxes should be raised and lowered on ordinary people.
of course it willJust like all Democrat ideas it will do the opposite of what they claim. It also raises taxes on the poor and middle class. Another Biden promise broken.
This economist agrees with the Joint Committee on Taxation that this bull is a sham.
Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says
The Inflation Reduction Act will drive prices even higher, economist says
Senate Majority Leader Chuck Schumer and Sen. Joe Manchin's reconciliation bill, the Inflation Reduction Act, is deceptively named since it will actually exacerbate Americans' pain from inflation while simultaneously raising taxes, an economist told Fox News.
"The greatest example of deceptive marketing today is the name that the Democrats have chosen for this piece of legislation," a research fellow at the Heritage Foundation, EJ Antoni, told Fox News. "It does absolutely nothing to address the problem of inflation."
The Inflation Reduction Act, which Manchin and Schumer announced Wednesday, is a slimmed down version of President Biden’s Build Back Better Act with a $433 billion price tag, most of which will be spent on climate provisions. The Committee on Taxation estimates that it will raise $739 billion through a variety of measures, including a minimum tax rate on large corporations and enhanced IRS enforcement.
"It does nothing to address the problem of inflation and instead only exacerbates the existing high prices and will drive prices even higher," Antoni told Fox News. "It's just adding insult to injury."
"Inflation is fundamentally too much money relative to the amount of goods and services in the economy," Antoni told Fox News. "So, if you're just going to raise taxes, all you've done at that point is transfer money from one person to another, the taxpayer to the government."
But you haven't actually changed the amount of goods and services relative to the amount of money in the economy," he continued. "So it does nothing to fight inflation."
Antoni also said the higher taxes will impact consumers.
There will be taxes on energy that will be passed through to the consumer at all different levels, not only in the purchase of energy itself, but because energy affects everything we do and everything we buy," Antoni said. "Those prices will trickle down into everything else, just as we've seen higher prices for diesel and gasoline over the last 18 months trickle down everywhere else into consumers purchases."
Inflation Reduction Act is 'deceptive marketing,' will hurt struggling Americans, economist says
An economist said the Inflation Reduction Act is an example of deceptive marketing and will exacerbate the pain felt by Americans struggling with inflation.www.foxnews.com
No it doesn’t but the policies a President pursues to address inflation absolutely belong to a President.The thread premise is a lie.
Inflation doesn't 'belong' to a given president.
ATR also notes that the bill adds $80 billion, and 87,000 new staff members, to the Internal Revenue Service — and there is no guarantee that they will simply focus on wealthy tax evaders rather than auditing ordinary Americans with lower incomes.
The Congressional Budget Office has said the bill will likely have a negligible effect on inflation in the near future, despite its name. The bill passed the Senate on Sunday evening, and now heads to the Democrat-controlled House for likely passage.
Keep reading…
Federal supremacist scum are liars. We all know this.
Putin's war is against wheat and gasoline prices which affect everything. You people are nuts to think this is caused by policies of Biden. Absolute idiocy. People refusing to get vaxxed and believing in election fraud without evidence are much worse than anything biden has doneNo it doesn’t but the policies a President pursues to address inflation absolutely belong to a President.
I never said Biden’s policies caused the inflation. A President is measured on how they address inflation. People refusing to get vaxxed or their views on the election have nothing to do with inflation.Putin's war is against wheat and gasoline prices which affect everything. You people are nuts to think this is caused by policies of Biden. Absolute idiocy. People refusing to get vaxxed and believing in election fraud without evidence are much worse than anything biden has done
They will focus on auditing Republicans.
Biden's spending caused the inflation. There is little doubt about that. Don't cut these douchebags any slack.I never said Biden’s policies caused the inflation. A President is measured on how they address inflation. People refusing to get vaxxed or their views on the election have nothing to do with inflation.
And Trump's much larger spending did not?Biden's spending caused the inflation.