Baizuo Self-Owned Again: Inflation Erases Stimulus Checks

It takes a special kind of stupid to believe printing money is way to get out from under a problem caused by too much money printing, unless you're the person in debt who wants to dump the cost onto unsuspecting poor and middle-income people.

CNBC: Economists warn of inflation inequality as poor get slammed by rising prices

A recent analysis by the Penn Wharton Budget Model found that low- and middle-income households spent about 7% more in 2021 for the same products they bought in 2020 or in 2019. That translates into about $3,500 for the average household.

The government sent checks to individuals and families and those checks do not cover the rising cost of goods and services caused by sending out those checks in the year they sent the checks. The inflation isn't finished yet. By the time the inflation is done, poor and middle income workers will have seen their standard of living crushed by Baizuo policies. Adjust for inflation next year and most families may be spending at least $4,000 to $5,000 more for the same goods and services they bought in 2020, but they won't have stimulus checks to offset. Thus the average Ameican will see their living standard plummet in 2022.

The only way to stop the inflation is to stop inflating. If you care about low and middle-income workers, they already pay very little in taxes. Wage increases are the best way to boost their living standards, and that could be accomplished by reducing low skill immigration, deporting illegal aliens and instituting protective tariffs that reduce the advantage held by countries who do not protect the environment, have low labor standards, and so on. Make it more profitable to build factories in domestically. Then wages will rise and the economy will boom too as more economic activity takes place onshore.