Meanwhile, the cost of labor is going up as the service industry is pressured to increase the minimum wage to offset labor shortages.
Passing the costs onto customers
In order for restaurants to have a fighting chance of staying open, they have no choice but to pass the costs onto their customers. This means that restaurant-goers can expect to pay more money when they dine out. Pressing labor shortages also mean that some restaurants may be short-staffed and having to cut back on hours temporarily.
When Biden came into office, he said he would not increase taxes on the middle-class. However, inflation is the ultimate tax; the working-class and middle-class are especially bearing the brunt of it.
Continued spending from this White House administration will only ensure that inflation maintains. Right now, Republicans are working on an infrastructure bill to get President Biden to reduce his heavy taxes and spending. The White House, however, continues support for legislation that would increase taxes, spending, and by extension, inflation.
