Despite promising to not raise taxes on those making less than $400,000, President Biden and Democrats have already managed to make working families pay another way: a stealth tax.

With consumer prices up 4.2 percent, inflation has accelerated at its fastest pace in more than a decade – making it harder for hardworking men and women to make ends meet and cover basic household items.

As the Washington Times points out – labor shortages (a direct result of Dems paying people more to stay home than return to work) and runaway spending is causing a pinch for American families:

“The Biden administration‘s answer to this is more federal spending. It’s a dangerous proposal, for without a healthier labor participation rate, there’s no guarantee our economy can absorb it — leading to further price increases because of shortages. The bubble is going to pop, and something needs to give, or the hyper-inflation monster cometh. Heck, for anyone putting gas in their car, buying groceries for their family, or building and purchasing a new home, it’s already here.”

Read the full op-ed here.

KEY TAKEAWAYS:

Working families are feeling the pinch of Democrats’ tax and spend agenda:

• Prices of used vehicles are surging: According to CPI, the price of used cars and trucks is up 21 percent, with a 10 percent increase in April.
• Prices are rising at the pump: According to AAA, the national average has reached $2.99 today, compared to $1.85 a year ago.
• Prices are rising at the grocery store: According to NielsonIQ, common grocery store items have seen a price increase by double-digit percentages.
• Prices of homes are rising: The National Association of Realtors reports that the median home price across America is now a record $329,100.

Our booming economic recovery will become a Biden-Bust:

• Despite a booming economic recovery, multiple available vaccines, and a record 8.1 million job openings – Dems are paying 4 in 10 unemployed Americans more to stay home than to return to the workforce.
• Dems’ expanded taxpayer-funded unemployment benefits are crushing Main Street’s hiring efforts.

Working families will shoulder the burden of tax hikes:

• Biden’s tax hikes will destroy at least one million jobs in the first two years.
• According to one estimate, the Dems’ spending spree will cost each American family more than $46,000.
• The Green New Deal tax hikes will cost American families up to $65,000 per year.