31/10/2024
Prices right now suck. That's not the same thing as inflation. Inflation is a low as it's been in decades. Inflation was worldwide thru the pandemic. US policies under Biden held inflation to around 8% while the rest of the industrialized world was around 11%. And now it's very low. Prices are not going back down, however. 2019 food prices are not coming back. The wealthy, who are able to put a lot of their wealth in assets that rise with inflation such as real estate, are relatively untouched by it. It's wage earners who suffer most. Their wages need to come up so that their groceries are the same proportion of their wages as they were in 2019. Only Democrats will do anything about that. Trump's tariff-fix-all will cause more inflation. Tariffs are tax that is passed down to the consumer through higher prices. The real reason your rent and groceries are so high is because the wealthy hold a greater percentage of US wealth than ever before in history. Meaning, the middle class and poor have less. Some sort of corrective to the massive wealth disparity that exists right now between the rich and poor is needed -- such as a wealth tax.