We never for an eye blink believed the Biden claim that if he were president “nobody making under four hundred thousand bucks will have their taxes raised. Period.” Anyone who believed that was a sucker.
The just-updated chart below from Andy Puzder, former CEO of CKE Restaurants, has tracked the monthly numbers for the past 16 months. Over the past year, inflation has outpaced wages and salaries by roughly four percentage points. With the average worker wage and salary at roughly $60,000 a year, this means a $2,400 per worker Biden inflation tax.
Heritage Foundation economist E.J. Antoni thinks the inflation tax is above $3,000 a year. What is for sure is that worker paychecks are shrinking, Joe.