You’re Paying More for Everything Because of Joe Biden

Listen Here:

SEN. HAWLEY: How about the fact that right now you’ve got working Americans who are paying the inflation tax that these Democrats have created every single day. I mean, people are paying more money for food, they’re paying more money for gas, they can’t afford to get their car repaired. Why? Because inflation is out of control thanks to the Democrats and their socialist spending.

And they want to make it worse! So you talk about hurting working families, hurting working people? I mean, the Democrat agenda is nothing but grinding them down. In favor of what? Their far-left, woke politics. That’s who wins in this. You know this. It’s the far left Wokies who are the ones who are really behind this $3.5 trillion agenda. They want to remake this country. That’s what this is about.

BUCK: Inflation is like acid, friends, in your bank accounts, in your wallet — eating through your savings, your earnings, the money that is in your pocket, the money you need to pay for groceries and bills. That’s what you need to think of inflation as. It’s a government-enabled policy or the result of monetary policy.

Welcome back to Clay and Buck show. But this is gonna become even more real in the months ahead, and it’s gonna be a huge challenge for the Biden administration. They’re gonna have the media in their back pocket, as they always do, trying to convince everybody that it’s not that much of a problem, but it absolutely is.

Just a smattering, Clay, of headlines here about the problem here that Josh Hawley was describing as a tax, an inflation tax — which is a good way to think about it as well. “Key inflation gauge,” this from CNBC, “watched by the Federal Reserve hits another 30-year high.” New York Times: “Inflation climbs at the fastest pace in 30 years as supply chain snarls linger.”

“Reuters: Fed’s Harker says he worries inflation won’t be as transient as expected.” Well, no bleep, buddy. I think we all know what’s going on with that. And, Clay, as we discussed this is… It’s a function of policy, but it’s also a function of math. And I understand that there are people on the left who are behaving this notion of Modern Monetary Theory and they’re saying this is all imaginary and in our heads.

No, in fact, the debt burden right now of this government is the highest it has ever been by far — and this is a problem that is getting worse. It’s not one we should become numb to. We’re gonna start feeling it. People listening to this are gonna start feeling it as everything gets more expensive.

CLAY: I think people are feeling. Everyone that is listening to me and you right now I bet in the back of their mind just about has been consciously paying attention to what’s gone on with the gas tax, right? When I say “the gas tax,” as the gasoline prices have increased, everybody driving around, even if you’re not buying gas at that moment.

You’re looking at the price on the side of the road, and you’re like, “Man, this thing has gone up in a massive way.” In fact, I’ve seen people start to put stickers on pumps. Have you seen some of these pictures of Joe Biden with the sticker where it says, “I did that” right next to the price of gas?

BUCK: Oh, yeah, on social media.

CLAY: People have started taking Joe Biden little stickers and putting them onto gas pumps, and it just says, “I did that,” and shows Joe Biden pointing towards gas. I think what Senator Hawley from Missouri is making a grace case on is Biden is arguing, “Hey, everybody who makes under $400,000 a year, I’m not gonna raise taxes on you.”

But the inflation rate right now is a default tax increase for every working person out there, and that is I can’t I think in the back of their mind so many people are looking around in this country and abandoning Biden on all levels, Buck, because of these failures.

BUCK: Well, and this is also when you point out the Psaki Tax — call it the Psaki Tax, the ignorance of how economics works — when they say things like, ‘Well, yeah, we hope businesses don’t pass increased costs or supply chain issues that increase their costs on to consumers.” They can hope all they want. (laughing) Those costs will be passed on to consumers because supply and demand is real even if Democrats think it’s not.

CLAY: Even if they think it’s “mean” that price increases happen, right? This is what Psaki has said for a time now is, “Oh, well, we don’t think that companies should raise prices.” Well, guess what? When your prices go up, the amount you’re charging consumers goes up as well. This is basic economics, which the Biden administration does not seem to understand.