As inflation fears climb and wages decline, U.S. Rep. Tom Rice (R-SC) refused to comment when contacted by Palmetto State News.
The U.S. Bureau of Labor Statistics announced on Aug. 11 that the Consumer Price Index has risen 5.4% over the past 12 months.
That news came days after former Obama Chairman of the Council of Economic Advisors and current Harvard economist Jason Furman issued a report that said inflation has led to an effective 2% wages decline for American workers in June.
Libertarian author Kristen Tate says there are two significant drivers of the current inflation: “Money printing by the Federal Reserve” and “massive government spending.” She calls the growing inflation “Biden’s hidden tax on working Americans.”
This week, U.S. Sen. Joe Manchin (D-WV) expressed concerns over inflation, calling it an “unavoidable tax on the wages and income of every American.”
