OPINION:
A hallmark of President Biden’s campaign was his often-repeated pledge that he would not increase taxes on anyone earning less than $400,000 per year. He has honorably kept his word, but with one notable exception: rampant inflation, a plague which is categorized by many as a cruel tax.
The notion that the inflation of the past year was transitory has been proven false. In the face of wholesale price increases and supply-chain shortages, product manufacturers, grocery stores and restaurants are imposing price hikes. These and the soaring wages employers must now offer in order to attract workers add fuel to the inflationary fire. Although increased gasoline prices could be expected as demand rose along with the ebbing of the pandemic, the cost of fuel is now well beyond what could have been anticipated.
Inflation hits those of all income levels and is particularly cruel to those with fixed incomes, including many of our elderly.
Mr. Biden is not solely responsible for the current inflationary spiral, but the American people point fingers at the person in charge and look to him first and foremost to fix it. As the situation stands at this time, the Republicans are in a marvelous position to gain advantage in this year’s midterms by pointing out that inflation began on Mr. Biden’s watch.
For the sake of the American people and the Democratic Party, I hope the president and Federal Reserve Board find a way to rein in runaway prices.
OREN SPIEGLER
Peters Township, Pennsylvania
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