Central Banks are Panicking
DIRE CONSEQUENCES, ECONOMIC WARNING SOUNDED, MONEY PRINTING MADNESS WILL
BRING PAIN, UNPAID LOANS
The California Dream is DEAD.
truly hard to believe anyone would find this anywhere in America!
ABANDONED PARADISE, LAS VEGAS
THE OTHER LAS VEGAS - EAST FREMONT
LL BILLIONAIRES ARE DEMOCRATS FOR OPEN BORDERS TO KEEP WAGES DEPRESSED. JOE BIDEN IS RIGHT THERE RUNNING THEIR SHOW!
How Wealth Inequality Spiraled Out of Control | Robert Reich
https://www.youtube.com/watch?v=wOI8RuhW7q0
This is because despite all its declarations, the Democratic Party is not a party of workers. It, as Biden’s transition team attests, is a party of Wall Street, big banks, Amazon, and the military-industrial complex.
According to an analysis by the Tax Policy Center, the SALT tax provision will overwhelmingly benefit the top 10 percent of income earners, with virtually nothing going to the remaining 90 percent, i.e., the working class and lower-middle class. The measure will particularly benefit the top one percent, those who make over $867,000 a year. They will see a tax cut in the tens of thousands of dollars.
BIDENOMICS.... these are the clowns CNN wants to see replace senile Joe. Shocking!
Tucker: This is how dumb CNN is
Analysis: Joe Biden’s ‘Build Back Better’ Would Make the Rich Even Richer
Wharton Study: Bidenflation Will Cost Families $3,500 This Year, Low-Incomes Hardest Hit
Bidenflation will cost families an additional $3,500 this year, impacting low-income families the hardest, a study released Wednesday showed.
According to the University of Pennsylvania’s Wharton School’s budget model, Americans on average will have to spend $3,500 more in 2021 to sustain their consumption of years past in 2019 and 2020.
The study also suggests low-income families will be disproportionally impacted. The study estimated lower-income families will have to spend seven percent more money to maintain their previous consumption patterns, while higher-income families will only have to spend six percent more.
“Lower-income groups spent relatively more on food, energy, and shelter, while higher-income groups spent relatively more on other commodities and services,” the study states.
Across the consumption basket of income groups, the bottom 20 percent of families saw the price of their consumption increase 6.8 percent, or $2,120.
The top five percent of income-earning families will only experience a 6.1 percent ($7,636) increase in consumption.
Meanwhile, the top five percent of income-earning families will only experience a 6.1 percent ($7,636) increase in consumption.
“Since higher-income groups had a bigger increase in expenditures in all categories, they also saw a bigger increase in total expenditure,” the study read. “However, because of variation in the composition of consumption bundles, we find that higher-income households had smaller percentage increases in their total expenditure.”
The Penn Wharton study comes after Bidenflation has reached a 40 year-high, increasing 6.8 percent from 2020. The cost of energy, food, housing, transpiration, vehicles, clothing, and hotels have all increased under President Biden.
Yet Americans do not have faith Biden will squash inflation. A Monday poll revealed 53 percent of Americans believe the economy, due to inflation, is becoming worse, while only 15 percent believe Biden is improving the economy:
Income doesn’t change the perception of inflation. Americans earning less than $50,000 were just as likely to say inflation is a very serious problem as those earning between $50,000 and $100,000 or those earning more than $100,000.
A Sunday poll showed a majority (56 percent) of voters do not think Biden is concerned about American families incurring massive price increases. The numbers among just Democrats are no more favorable. Only 48 percent of Democrats believe Biden is concerned about inflation.
Follow Wendell Husebø on Twitter @WendellHusebø
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