If there’s one thing Joe Biden has shown the country, it’s the danger of his fiscal policies passing into law.
Thanks to Biden-backed legislation that made it through Congress and onto the president’s desk last year, inflation is higher than it’s been in four decades.
Back in March, the Federal Reserve hiked up interest rates to lower inflation. The Federal Reserve also warned that if inflation continues to be a problem, Americans will be facing even more increases in interest rates.
In spite of how much harm Biden’s done to the economy, his 2023 budget has already arrived. This budget includes a lot of spending that will undoubtedly worsen inflation. However, Vice President Harris doesn’t want the country to know this.
According to Harris, any American who earns less than $400,000 on a yearly basis will not see their taxes increase. The vice president is now being heavily criticized for putting out such a false narrative, according to Twitchy.
Another Lie from the Biden Administration
On Saturday, the vice president tweeted out that Biden’s budget would only mandate big corporations and wealthy individuals to “pay their fair share.”
However, the part about earners below $400,000 not having to pay any more money in taxes is what triggered the most backlash.
Democrats have made this argument time and time again; yet, at the end of the day, the middle class still ends up losing more money to higher taxes, inflation, etc.
On Twitter, many Americans pointed out that if Biden gets his way with his budget plan, the average person’s purchasing power will decline.
Other people on Twitter mentioned that thanks to what Biden’s done to the economy, folks earning $400,000+ on an annual basis aren’t necessarily well-off anymore.
The Greatest Tax of All
Unfortunately, Americans are dealing with the greatest tax of all, which is inflation.
Next month will mark a full year since inflation has been in the lives of the American people. Yet, in all this time, all the Biden administration has managed to do is put out more spending initiatives that will undoubtedly make inflation worse.
The vice president’s promise to Americans simply isn’t backed by the history of left-wing fiscal policies or the realities everyday folks are facing today.
If the Biden administration truly cared about Americans earning less than $400,000 per year, they would be focusing on lowering gas prices and inflation. After all, these price increases are having the worst hits on people with limited economic resources.