×
↓ Freedom Centers

Inflation Harms Americans & Small Business

Fairfax, VA – Frontiers of Freedom released the following statement from President, George Landrith, about a Report published by U.S. Senator Rand Paul on the harmful impact inflation is having on American families and small businesses. The full report — “The Hidden Tax: Inflation’s Effect on American Families and Small Businesses” — can be found HERE

Frontiers of Freedom President, George Landrith, said: 

U.S. Senator Rand Paul (R-KY) has done Americans everywhere a real service by bringing into focus how the hidden tax of inflation hits hardworking middle income and lower income Americans the hardest and how this hidden tax burdens and weakens small businesses from coast to coast. If you’re a billionaire, you can afford to absorb this hidden tax, but if you’re a lower income American or even a middle income American, this hidden tax increase hits you hard and steals your hard-earned dollars — making it harder to feed and clothe your children, and provide for their future. And if you’re running a small business, this hidden tax makes it harder to grow the business, hire new people, and pay the ones you’ve already got. Simply stated, this hidden tax can be the difference between making it, and not making it. 

Many Americans know what its like to have too much month, at the end of the money. But the hidden tax of inflation means that more and more Americans will have more and more of the month still to go when the money runs out. 

Senator Paul correctly points out that one of the primary causes of this hidden tax is the almost $5 Trillion that was spent on COVID stimulus. Those who promoted this out of control spending argued it would benefit American families and small businesses. But as usual, it was America’s families and small businesses that are suffering as a result of this so-called COVID-stimulus. The primary beneficiary was government and allies of big government who grew at unprecedented rates. But American’s incomes and small businesses took unprecedented hits.  Americans have seen the power of their paychecks shrink and small businesses have been forced to close because they cannot bear the hidden tax burden that inflation has imposed upon them. 

The bad news is that so many in Congress see nothing wrong with out of control spending that caused this economic catastrophe. And the truth is it isn’t likely to get better nearly soon enough. For example, the Producer Price Index (PPI) reveals that prices for businesses have jumped by nearly 10 percent during 2021. That is the largest one year increase in prices in the history of the Labor Department tracking such information. And if businesses are seeing those kind of price increases, they will continue to fail and we will continue to see prices rise. This will severely limit the recovery and opportunity for Americans who desperately need a break from the bad news the last two years has brought. This is a 100% self imposed problem. We did this to ourselves. Or more precisely, the big-government apologists in government did this to us.

Frontiers of Freedom and the millions of Americans who support our work and our mission statement in all fifty states express our sincere thanks to Senator Paul for speaking out about inflation. More importantly, he has correctly identified why inflation is hitting us so hard. Getting government spending under control is necessary for at least two important reasons — first, we cannot saddle future generations with mountains of debt. But secondly, we don’t need to look to future generations to see how harmful out of control spending can be — here and now, we cannot continue to impose the hidden and heavy taxes of inflation on so many struggling Americans. 


WP2Social Auto Publish Powered By : XYZScripts.com