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Posted by: thepinetree on 06/03/2021 12:07 PM Updated by: thepinetree on 06/03/2021 12:07 PM
Expires: 01/01/2026 12:00 AM

The Inflation Tax By Congressman Tom McClintock

Washington, DC...When the Democrats passed Mr. Biden’s $1.9 trillion spending spree in March, a lot of people got a lot of free money – thousands of dollars in many cases. But the bill is already coming due for that free money, and, as many of us warned, it turns out that free money is very expensive. Indeed, it turns out that the very same families most harmed by the lockdowns will be the most harmed by paying the bill for the lockdown relief. It comes to about $15,000 for an average family and the first installment is already reflected in the rising inflation sapping the purchasing power of working families.

The sad and sober reality is that government cannot put a single dollar into the economy that it has not first taken out of the same economy. When government spends a dollar for you it has already decided to take a dollar from you – and it can only be taken back in three ways: from your current earnings through higher taxes, from your future earnings through borrowing and from your savings, retirement income and purchasing power through inflation. There is no other way to pay for every dollar government spends.

Inflation is the most insidious of these taxes because it silently hollows out everything that a family labors to achieve.

Anyone who has gone near a gas station or a grocery store in the last few months can now see where their relief checks came from and how they will be paid back. The Democrats shut down productivity with their lockdowns and then flooded the economy with dollars! More dollars chasing fewer goods is the classic recipe for inflation. And this is just the beginning.

The Consumer Price Index increased 4.2 percent in April. It was 2.6 percent in March. Core inflation is already growing faster than at any time since the end of the Carter Administration.

What does that mean, exactly? It means that if you’ve managed to save $100,000 for your retirement, the government has just taken $4,200 of it – because your savings are now worth that much less. Your balance hasn’t declined – but its purchasing power has lost $4,200.

Check your grocery bill. Or your utility bill. How much more are you spending to put food on the table or heat your home? There are other bad policies at work as well – green energy, for example – but a big part of that difference is your inflation tax, paid directly from the reduced purchasing power of your money. And that is true of everything you buy.

It doesn’t stop there. The Democrats are promising a massive increase in corporate taxes – while assuring the gullible not to worry, because the corporations will pay it. But corporations don’t pay corporate taxes. You do. You pay them as a consumer through higher prices; you pay them as an employee through lower wages; and you pay them as an investor through lower earnings – your 401(k), for example. There is no other way a corporate tax can be paid. And the resulting reduction in productivity will further feed the inflation tax.

The Democrats’ sick joke is this: everything that the government has handed out to your family is already being taken back from your family through higher prices.

What makes the Democrats think that socialism will work any better here than every other country that has tried it? It consistently produces shortages, unemployment, inflation, poverty, and malaise wherever it is imposed. And we will continue down this dismal path until Americans awaken to the simple economic realities that the Democratic socialists have now unleashed upon our country.

In his inaugural address, Thomas Jefferson surveyed the boundless bounties our nation enjoyed and asked, “With all these blessings, what more is necessary to make us a happy and a prosperous people? Still one thing more, fellow-citizens—a wise and frugal Government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government.”

Americans deserve a wise and frugal government. But it is not enough to deserve it – we have to demand it at the ballot box.

Congressman Tom McClintock represents California’s 4th Congressional District.

# # #

Comments - Make a comment
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No Subject
Posted on: 2021-06-03 12:23:24   By: Anonymous
Up against the wall Traitor Tom.

[Reply ]

    Posted on: 2021-06-03 12:56:00   By: Anonymous
    Free money, no such thing! Never has been and never will be! Forget our past president and focus on what our new president is doing. He can’t even take on questions because he’s brain dead. If you voted for him, huge mistake indeed. We all better learn how to vote more constructively. Once in, can’t get them out. Be smarter, big time.

    [Reply ]

    Posted on: 2021-06-03 15:49:46   By: Anonymous
    You people, so very stuck on stupid!! From reliable inside resources, Newsom demanded our lakes be drained (into the ocean) to jack water prices up. His last thank you to those that voted for him!! There is still snow and run off so, emptying our lakes is uncalled for. If you don’t get it now, you gonna get it later! Apparently, he wants this state to, burn to the ground. Just like here, does no good to educate the know it all democrats. Work hard, get a paycheck, and lose it all on bills. Now, that is what “you” idiots elected. Good luck.

    [Reply ]

      Posted on: 2021-06-03 17:09:08   By: Anonymous
      Did you notice it didn’t rain or snow much this year?

      There’s very little runoff

      [Reply ]

      Posted on: 2021-07-28 07:43:44   By: Anonymous
      hhmmmm, ok sure. better grab your foil helmet.

      [Reply ]

No Subject
Posted on: 2021-06-03 12:41:55   By: Anonymous
The only thing McClintock and his cronies are concerned about is an increase in corporate taxes. Where was his outrage when Trump spent us into over a trillion dollar deficit? Or when corporate tax CUTS under Trump resulted in CEOs taking bigger paychecks, not more hiring. Imagine that didn't get much play on FOX.

[Reply ]

    Posted on: 2021-06-03 13:48:10   By: Anonymous
    Stay out of the politics and fake news. Use your brain and dissect the truth and don’t get sideways. Be accountable and look at the facts…

    [Reply ]

Posted on: 2021-06-03 13:56:17   By: Anonymous
He's the epitome of inflation! BIG BAG OF INFLATED HOT AIR!!!

[Reply ]

Sad News
Posted on: 2021-06-03 13:56:26   By: Anonymous
There is free speech and there is the spreading of untruths and the regurgitation of snippets that serve the speaker and/or his cronies. How much I wish, I would be represented in Congress and Senate by people who are fulfilling the oath they took. They are in these places to represent us, the people, and not their own agenda or that of their party friends. Tom, if you have a brain, start using it NOW!

[Reply ]

    Bogus lawmaker
    Posted on: 2021-06-03 14:31:59   By: Anonymous
    Republican lying gives them a zero on the credibility chart

    [Reply ]

      Re: Bogus lawmaker
      Posted on: 2021-06-03 14:33:20   By: Anonymous
      Less than zero

      [Reply ]

No Subject
Posted on: 2021-06-03 14:33:52   By: Anonymous
Can we PLEASE just vote him out of office.

[Reply ]

    Posted on: 2021-06-03 14:53:00   By: Anonymous

    [Reply ]

      Posted on: 2021-06-03 15:10:54   By: Anonymous
      "Stay out of the politics and fake news. Use your brain and dissect the truth and don’t get sideways. Be accountable and look at the facts…"
      Facts? You mean the lies you Trumpturds convince each other through the QueerAnon you subscribe to. You and the ProudGirls follow that horssh!t coming out of Trump's mouth. The Republic Sedition Party. Storming the Capitol you worms! Smearing your feces on walls of Congress. You have the haul to say to follow the facts. The facts are out there and your Loser Lies don't count.
      You, your party and McClincock are nothing but traitors!!!

      [Reply ]

      Posted on: 2021-06-04 11:14:18   By: Anonymous
      McClincock is a”d bag” politician !!!!

      [Reply ]

No Subject
Posted on: 2021-06-03 15:02:21   By: Anonymous
“We cannot tax our corporate overlords.”

[Reply ]

    Posted on: 2021-06-03 15:56:13   By: Anonymous
    Hey Tom
    Please stop your people from robo calling me at dinner time. Some of us are cooking, relaxing, having a cocktail and the last thing I want is to hear from you and spoil and interrupt everything.
    Thank you

    [Reply ]

    Billionaires Toady Tom
    Posted on: 2021-06-03 15:57:48   By: Anonymous
    All Tommy boy ever does is carry the Billionaires water.
    He is anti middle class, as most Republicans are.
    He's just another libertarian toady for the big $ .

    [Reply ]

      Re: Billionaires Toady Tom
      Posted on: 2021-06-03 21:54:48   By: Anonymous
      Above comment is the truth.
      McClintock needs to go, he’s the billionaires bag holding lackey , as soon as he’s voted out you’ll never see him in the district again .

      [Reply ]

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