Biden’s Thanksgiving Tax
Over the past several months, Americans have felt the dramatic rise of prices on everything, from the cost of groceries, filling up at the gas pump and heating their homes as well as trouble finding items on store shelves. Alarmingly, economic reports continually indicate that the problem is getting worse. Both the staggering 31-year high of the consumer price index and decline of gross domestic product reveal that the out-of-control spending and damaging policies peddled by President Joe Biden and Democrats are exacerbating the nation’s inflationary and supply chain crises. As a result, hardworking Americans are experiencing an ongoing inflation tax – one that will be severely felt this Thanksgiving and throughout the upcoming holidays.
With Thanksgiving right around the corner and the holiday shopping season on the horizon, many Americans this year are expected to cut back on buying and continue to pinch pennies. This is both by choice because of rising prices but also because many items are not on the shelves due to the worsening supply chain crisis. In fact, this year’s Thanksgiving is reported to be the most expensive in history as the price of many dinner staples have increased substantially. For example, the average price for turkeys has risen by 18.3 percent, mashed potatoes by 4.6 percent and pumpkin pies by 4.1 percent.
Aside from the cost of feeding their families on Thanksgiving, Americans are also burdened with having to pay more to travel to see loved ones for the holidays due to the shocking increase in fuel prices as well as airline tickets. Because of Democrats’ reckless and irresponsible spending and anti-American energy policies, gas prices have increased by 61 percent from a year ago and the price of airfare is expected to increase by 18 percent.
Moreover, not only is inflation causing prices on virtually everything to surge, but it is also rising at a faster pace than wages, which means decreasing take-home pay for hardworking Americans. With U.S. Treasury Secretary Janet Yellen, claiming this inflationary crisis is expected to last at least until the end of 2022, this is a troubling sign for Americans, especially at this time of the year. Now, not only are prices rising, but Americans have less money to spend on necessities as well as their Thanksgiving dinner and gifts for their children, family members and loved ones.
Sadly, while the holiday shopping season is usually the best time of the year for our nation’s economy, we should all be concerned about how these challenges are affecting our small businesses. Not only will Americans be faced with high price tags this year, but due to the supply chain crisis, small businesses may also find it difficult to receive enough inventory to stock their shelves and make the sales they need to profit from the holiday season. Especially ahead of Small Business Saturday on November 27, I encourage you to show them your support in whatever way you can, either by shopping locally or buying gift cards to help our friends and neighbors on Main Street.
As Americans try to move toward normal after the pandemic, I am discouraged that the worsening economic crises are making things unaffordable or unavailable. Sadly, Democrats in Congress and the Biden Administration continue to push for a multi-trillion-dollar big government package that would worsen the ongoing economic distress nationwide. I hope President Biden and Democrats will come to their senses and change course.