Rep. Barry Loudermilk to Newsmax: Inflation Is 'Taxation' on Americans (Newsmax's "Stinchfield")
By Charles Kim | Wednesday, 10 November 2021 10:35 PM
The country's rising inflation is nothing more than another form of taxation that ends up hurting the poorest people, Rep. Barry Loudermilk, R-Ga., warned on Newsmax.
"Here in Georgia, we are seeing some shortages: You're definitely seeing the inflation," Loudermilk told Wednesday's "Stinchfield." "And make no mistake, inflation is taxation. It is taxation on the working class."
He said the economic pinch Americans feel as the inflation rate rises to the highest it has been in decades seems to be fine with the Democrats as the party moves to socialism.
"The Democrats are OK with this," he said. "This is part of their plan because if reconciliation goes through, this is going to get worse. If they get the socialist society going that they so want, this will be the norm, and I wouldn't put it past them that all of this is part of getting America used to paying more, waiting longer, and getting less, because this Green New Deal will cause everything to be more expensive."
According to The Wall Street Journal on Wednesday, the consumer price index rose to another record high for one month, increasing 4.6% after already increasing 4% in October, which is the largest rise since 1991.
The increase is 6.2% above last year, the fifth fastest 12-month pace of growth since 1990, and the fifth consecutive month showing an increase.
The Journal reported the increase rate saw costs increase for cars, gasoline, furniture, rent, medical care, and other energy costs.
"I do think we're moving into a new phase where inflation is broader and where things are going to get a little more intense," Laura Rosner-Warburton, senior economist at MacroPolicy Perspectives told the paper. "Part of that reflects that [supply-chain] bottlenecks aren't resolved going into the holiday season, when a lot of purchases get made, and that the economy is doing really well, so you have strong demand."
Loudermilk said the policies of President Joe Biden and the Democrats created the problems, and the $1.75 trillion "build back better" budget reconciliation bill they are trying to push through Congress will only make matters worse.
"The 'Build Back Better' plan is causing all of these problems," he said. "It isn't childcare. It's paying people to stay at home and not go to work, promising people that they'll get more stimulus from the government, [that] they can live off the government. And by the way, if you don't do exactly as the government tells you to do, then we're going to force your employer to fire you, or you're going to have to leave your job. This is what's causing the problem."
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