'The GOP has no idea about how to reduce inflation.'
After four decades of low and stable inflation, prices in the US have risen by more than eight percent over the past year. This, without a doubt, is cause for concern. And there is something like a consensus that inflation—and the pain it's inflicting on"regular Americans"—is likely to cost the Democrats their majorities in the House and the Senate.
In fact, the GOP has no idea about how to reduce inflation. But, this said, we know precisely what the Republicans will do. They'll do what they always do. They'll attack Social Security, Medicare and Medicaid. They'll allow the purchasing power of the minimum wage to erode further. They'll work to make the appalling Trump tax cuts for corporations and the rich permanent.
The reality is that this burst of inflation is a global phenomenon, a surge that is all but out of the control of the leadership of either party. It is certainly beyond the GOP! But more importantly, the economic pain, uncertainty and insecurity being felt by most of us is not primarily about a one-year surge in inflation. It's about decades of economic policies that have been designed to enrich the rich and disempower working people. And it's worked.
So, how can we minimize the economic"pain" caused by inflation? We could identify those who are on the losing end of inflation, and provide some relief. Over the past year, corporate profits—oil profits especially—have soared. Rents have soared. And the federal minimum wage—which has not increased since 2010—has eroded by about 8%.
So, if we are concerned about protecting low income families from inflation, we could provide adequate funding for the Housing Voucher Program. Or we could vote for Herschel Walker, Ron Johnson, Marco Rubio and JD Vance, who will obediently vote to cut taxes for the rich, reduce the accountability of appallingly profitable corporations, and cut Social Security, Medicaid, and Medicare.
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