Dear Friend, The old saying, “a dime isn’t worth a penny anymore,” rings especially true across our nation today as Americans are paying more for everyday goods as inflation rises. We saw record levels of inflation in June, and July brought another high as the consumer price index rose 5.4% compared to a year earlier. What this means for you:
Inflation has the same impact on Americans’ wallets as taxation. In high inflation periods, Americans cannot buy the same amount of goods that they normally could under previously low inflation periods. When economists took this into account, they found that Americans are making less than they did in 2019 when their paychecks are adjusted for inflation. Thanks to inflation, Americans essentially had their pay raises nullified.
How this happened:
Many factors have had an impact on inflation, including increased. government spending. Despite this, Congressional Democrats are attempting to pass the largest spending bill in United States history. After a year of spending to fight the pandemic, it’s imperative that we take account of our nation’s financial wellbeing. Americans know what it means to be financially responsible. We know that you can’t spend money recklessly after you experience a financial hardship. However, this important lesson has been completely ignored by liberal Democrats, following one of the costliest disasters in history. However, they won’t be left with the check. Their spending spree would be billed right to middle-class Americans.
Congressional Democrats’ $3.5 trillion budget resolution would expand the welfare safety net by levels not seen since the New Deal. They introduced this welfare expansion as American small businesses fight to find workers to fill open positions. Congressional Democrats want to increase spending as inflation threatens to kill years of economic prosperity. Unfortunately, this massive spending proposal is a plan to fight fire with gasoline and will only add to our national debt while destroying incentives to work and raising taxes on middle-class Americans.
There has been no meaningful proposal to pay for this new spending. They have discussed proposals to tax job-providers, but these taxes will ultimately fall on the middle class. Biden has promised not to raise taxes on middle class Americans, but he also stood by President Obama when he said, “if you like your doctor, you can keep your doctor.” Americans are all too familiar with “promises,” and Biden’s promise on taxes will ring just as hollow as Obama’s promises on healthcare.
Monthly Poll
This month, I hope to get your thoughts on an important policy issue. In order to get a good response from a large group of Mississippians, I hope you will take a moment to answer the following survey and forward this email to your friends and family. Be sure to encourage them to share their thoughts in the poll below.
Overall, do you think the infrastructure bill that was recently passed by the Senate would be good for Mississippi or bad for Mississippi?
| [ ]Overall bad for Mississippi |
| [ ]Overall good for Mississippi |
| [ ]Neither good nor bad |
| [ ]Unsure |
Submit
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Sincerely,
Michael Guest
Member of Congress
