Politics

Biden is Crushing Low-Income Americans

AMAC Exclusive – By Andrew Abbott

Biden speaking

President Joe Biden has consistently billed himself as the champion of the poor, promising to make the wealthy “pay their fair share.” During his 2020 campaign, he pledged that he would not raise taxes on families that made less than $400,000 a year. And according to the technical definition of the word “tax,” he has so far largely kept that promise (although Democrats have yet to pass their massive reconciliation bill which looks to be loaded with tax hikes). However, even if Middle Class Americans haven’t yet seen a direct tax increase under Biden, his policies are creating one of the largest financial squeezes of working- and middle-class families in history.

Instead of direct taxes, the effects of Biden’s policies have resulted in several “hidden taxes” which disproportionately affect individuals and families in lower income brackets. The most obvious of these is inflation, which reached a 13-year high in September. While many wealthy Americans have heavily diversified investment portfolios that can keep pace with raging inflation, most middle- and working-class Americans rely on savings accounts or live paycheck to paycheck. For them, such sky-high inflation is devastating. As much was reflected in data for wage growth over the past year, which showed that, while wages have increased in recent months for some groups, the actual buying power of those wages has decreased over the past year due to inflation. That’s a hidden tax.

Despite this obvious fact that inflation primarily affects lower income Americans who pay a larger portion of their after-tax income on everyday needs, the Biden administration continues to insist otherwise. Earlier this month, White House Chief of Staff Ronald Klain retweeted and shared a thread from former Obama Economic Council Chair Jason Furman, calling inflation a “high-class problem.” He suggested that it was a good thing and a sign that the country was on the right track. The Independent Women’s Forum fact-checked this claim and gave it “four unicorns: False. Completely make-believe.” They noted:

“The White House’s suggestion that the struggle to pay for gas, home heat, clothes, and groceries are a ‘high-class problem’ is not only false but insulting and out-of-touch. The rich have plenty of cash to pay a few bucks more. Working Americans, meanwhile, are getting squeezed.”

Moreover, despite the Biden administration’s claim that inflationary pressure is “transitory,” economists say that it’s not going anywhere anytime soon. According to the U.S. Bureau of Economic Analysis, prices for food, gas and most consumer goods are increasing at a higher rate than “at any point this century.” They further predict that price surges will continue well into 2022. While economists disagree on the exact cause, leading experts from both sides of the aisle are expressing extreme concern and agree that monetary policy in America – which under Biden is essentially limitless spending – needs to be reined in and reexamined.

But instead of heeding that warning, Biden and Congressional Democrats are still plowing ahead with plans for trillions of dollars in additional government spending. Any first-year economics student knows that injecting such astronomical sums of money into the economy will only make inflation worse, not better.

The Biden administration’s energy policies have also put an added strain on middle- and working-class families as oil and gas prices soar. After cancelling the Keystone XL pipeline and ending oil and gas exploration on many public lands, the U.S. is now once again dependent on foreign energy suppliers after President Trump made the country energy independent. New burdensome regulations haven’t helped either. While it costs the same for a billionaire and a minimum wage worker to buy a gallon of gas or heat their home, lower-income Americans have a smaller pool of income to start out with, meaning that they now must spend a higher percentage of it on fuel and energy bills, while the rich feel the pinch far less.

Although the Biden administration has desperately tried to shift the blame for the nation’s economic struggles, public polling shows that Americans aren’t buying it. According to the FiveThirtyEight polling average, Biden’s approval rating sits at just 43.2%, while 51.1% of Americans disapprove of the job he’s doing. Even worse for Biden and Congressional Democrats, 71% now say the nation is heading in the wrong direction, including nearly half of Democrats. Biden is also underwater with women and minorities, two demographics Democrats will need if they hope to have any chance of retaining control of Congress next year or the White House in 2024. While other failures like the ongoing border crisis and the disastrous pullout from Afghanistan are undoubtedly playing a role in Biden’s spiraling popularity, the economic woes plaguing the country are one issue that has a direct impact on the lives of the vast majority of people.

Regardless of concerns that Biden’s agenda might be at odds with the interests of average Americans, his team is unmoved. This week, CNN’s Jake Tapper asked Treasury Secretary Janet Yellen if Biden’s policies “were essentially pouring gas on the inflation fire?” She outright dismissed these concerns and asserted that the current inflation would naturally decline over time. While continuing to insist his policies of government spending, re-regulation, and tax hikes are evidence of Biden’s commitment to the poor and middle class, all available evidence suggests otherwise.

Andrew Abbott is the pen name of a writer and public affairs consultant with over a decade of experience in DC at the intersection of politics and culture.


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mike
1 month ago

The Biden administration has four years to destroy the American economic system turning it into a socialist/communist system, just look at the direction we are taking. This is what American voted for because he stated he is the most progressive nominee. Americans already had a taste of Marxist ideology in the summer of love 2020 that has carried on until today with increasing crime. Again Americans asked for him and this is what you get. Just think of how an illegal migrant has NO vaccine mandates imposed on them yet BIDEN is making every attempt to enforce mandates on Americans.
Many Americans who he and others intend to punish fought for us all during peek pandemic as front line workers, truckers, food supply and many other jobs.
ans now they may lose their jobs. He does not give a BLEEP about them just like Afghanistan allies left behind and 13 Americans who died.
You asked for it and you got it an they are not done. United we stand divided we fall. He is going to make America fall.
NOTE: The democratic party is no longer democrats! Wake up Americans!!

Karen
2 months ago

Ignorance is BLISS! Joe “commie” Biden has these poor bas—ds by the throat. They keep voting Democrat……..alas……..

Grammy
2 months ago

Joe Biden is an airhead. He is incapable of doing or creating anything. He is mentally diminished, a worn out old man. He follows his notecards and his “handlers”. Every move he makes reeks of Obama. He is fundamentally transforming America.

R
2 months ago

Yelled is a Biden troll. Whatever she says, believe the opposite.

N
2 months ago

This admin is nothing but power grabbers and communists. They all need to be removed.

Charlene
2 months ago
Reply to  N

You said it!

STEPHEN M ENDAYA
2 months ago

I do not trust beady-eyed biden. His words are fragile and will readily crumble if it looks like his promises are about to fall apart.

Mario Capparuccini
2 months ago

May the Lord cause an awakening in the hearts of our fellow citizens that they would reject the Party of evil with its support for abortion, sexual perversion, Communist ideology, and its tactics of lying and cheating. Individually, you can find good Democrats and corrupt Republicans, but the main focus of the Democratic Party is evil continuously.

Bill
2 months ago

Agreed,Mario..

Tim Toroian
2 months ago

They are the easiest to make dependent on the government. For everything.

BAE
2 months ago

I don’t get it, Biden will crush low income Americans, but he will get their vote.
They will never get ahead with his administration. SAD!

anna hubert
2 months ago
Reply to  BAE

that is why they are low income

D.P.
2 months ago

….”crushing low-income Americans”…..well of course they are. Mind you I said THEY….because, you see, Biden is not the one actually doing this….he is a figurehead. The powers behind the man, work from under the table, behind the curtain and out from the closet….and the president is just doing his part (even if he is oblivious to it). This is a step in the overall plan…..to make as many people as poor as you can, and create a dependency on the government for all necessities of life. Never mind personal initiative. Never mind the work ethic. Never mind being educated to excel they want drones.
The deeper they can plunge people into poverty the better. In the end you have but two groups….the very prosperous rich, and the very poor, poor. So…crush the low-income people and add to their numbers by overloading every one else (except themselves) and take the reins. My question is this, directed at AMAC…how about some articles of exposure…about those people who are behind the scenes, doing the dirty business of destroying our nation. The movers and shakers of this conspiritorial drive to wipe the Republic off the face of the earth…..we need names, dates, documentation, real facts about real people in stead of just saying “Biden” or “they” or “sources in the administration”, etc. How about it AMAC?

Hdrydr
2 months ago
Reply to  D.P.

SPOT ON!!

Garye
2 months ago

useless Joe and the socialist democrats are ruining America!
These losers need to be removed

Vinb
2 months ago

You know every time imposter pres biden opens his mouth it’s a damn lie.

Pete from St Pete
2 months ago

Joe Biden is NOT the champion of workers and laborers. He is the champion of labor UNIONS. They provide him and his party with vast funds and willing workers who unwittingly work to reelect Democrats against their own personal best self interest.

Tom
2 months ago

The Democrats need the trillions of dollars to try to pay back States and communities from whom their politicians have stolen trillions of dollars before they finally get exposed even though the press has been doing everything possible to cover it up. This is their only chance…until they start stealing trillions of dollars again which they will. They got away with it once so why not do it again?

Garye
2 months ago
Reply to  Tom

Tom – You Sir are exactly right!
democrat corruption nothing buy.

Max
2 months ago
Reply to  Tom

All politicians have been stealing for years. The problem is there is no law enforcement to catch them in the act THAT WILL STICK. Bribes work wonders.

Barb
2 months ago

The current administration is going to destroy our country as we know it. Thanks to them we are on a road that is leading the USA downward and if they continue their anti-American ways we will become just another third world nation. God Bless America!

Jim Jolly
2 months ago

If I had done as bad of a job as Biden and his ignorant crew I would have been fired after the first month. Wouldn’t it be nice if that would happen including Harris, Pelosi, Schumer, the Squad and of course Bernnie. I don’t know what college Janet Yellen graduated from but she needs to go back for a refresher course or is she just repeating what the LEFT is wanting her to say. I don’t have a economics degree but spending trillions more is not going to fix what has been screwed up by the Democrats lately. THAT IS JUST COMMON SENSE, Oh yet, I forgot we are talking about Washington.

Kelli
2 months ago
Reply to  Jim Jolly

????

Kelli
2 months ago
Reply to  Jim Jolly

Exactly! Disregard the ??? On the other reply.

Feliix
2 months ago

Can anyone name one Build Back Better policy that positively impacts the citizens of the United States? All his Build Back Better policies increases the power of the government over our lives to make us more dependent on them,
Lets Go Brandon!

Eddie Van Halen
2 months ago

And one more ‘ting – Biden voted to tax Social “Security.”
This is back when he was just a plain old bozo.
What a guy.

Marie Langley
2 months ago

3 more years of this BS!!!!!! I am very worried………..Shame on everyone who voted for this treasonous jerk!!!!! They should all be ashamed. And with the poll numbers, who are the morons who think he is doing a good job? Boggles the mind. I guess when he fell asleep during the climate change summit speeches it was past his nap time!!!!!

Veteran
2 months ago

If we don’t get an Article V Convention of States to establish a process for the people to peacefully remove a President and party who are traitorous and work full steam at bankrupting, harming, and destroying our constitutional republic and country immediately, fall of 2022 will be meaningless because the Russians and Chinese, who will be here by then, won’t hold elections for Americans to participate in.

Jim Jolly
2 months ago
Reply to  Veteran

Don’t know how to go about a Convention of the States but I am willing to help even if the Attorney General labels me a terrist

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