Catsimatidis later noted that inflation is the tax of all taxes on the American people. Biden has therefore broken his commitment to not raise taxes on earners making less than $400,000 per year.
Changing the current projection
The news that inflation will increase, rather than lessen, is very bad news for many Americans. Now, it leaves the question: how can the country change current inflation projections?
First, we must remember that Biden’s American Rescue Plan passed earlier this year is largely responsible for the present inflation crisis. Therefore, blocking additional bad bills from passing is critical.
This brings the conversation to the 2022 midterm elections. The GOP must win at least one chamber; although, taking back both the House and the Senate is preferable. If Republicans control Congress, they will be best positioned to stop more dangerous legislation from passing.
