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A better question would be what has Biden done that is pro economy? I can't think of one thing. I thought the same thing when Obama was in office. I voted for him in 2008. Kept waiting to see what he would do to get us out of the crisis. Jobs program...nope..nothing. Just spent 8 years blaming GWB for everything under the sun.
The bottomline is this: when companies get hit with higher costs of producing and sourcing their items, they pass those costs right along to the consumer, and then some. Tariffs? Consumers pay. Import costs? Consumers pay. Supply chain shortages? Consumers pay. You want this <item>? You'll pay to have it, or you'll go without.
What we're experiencing now did not just start in 2021 or 2022. This is a culmination of changes that were started 4+ years. Add in the pandemic, and here we are.
100% correct, and may I add corporate taxes too....all passed along to the consumer, corps NEVER wind up paying those added costs either. How do I know? I've owned a corp. for 20+ years.
The fake news constantly brainwashes Americans to the contrary though, so I'm constantly having to re-educate posters here, & some just cannot be, or will not be, de-programmed, so fake news wins.
If we ceased all corp taxes today, prices would start to come down by ~18%...which is the estimated amount of embedded corp taxes. That could help to reverse this inflation, but you'll never hear that solutions uttered by the top 1%, & their fake news stooges.
Why would an employer "eat profit loss"? That profit is the employer's pay. Why would an employer take the loss in pay rather than the employee? Over my nearly seventy years I have owned many businesses. This included one that was international. I have employed countless employees over the years. I know hundreds of very successful business owners. I assure you no successful business owner is going to voluntarily take a pay cut.
Their options are:
1. Raise prices and pass increased cost to the consumer.
2. Lower wages
3. Sell the business to someone willing to pay for and operate the business at a lower profit margin.
4. Liquidate the business.
5 Business owners who are unable to walk away, may take a pay cut, but not if they can help it.
6. Declare bankruptcy and move on.
People believe any profit is good enough for the business owner. This is not true. The amount of profit must:
1. Justify the financial investment in the business.
2. Justify the time the owner must devote to the business.
3. Justify the long term risk of financial loss due to lawsuits, hazardous materials, changes in regulations and many other factors.
Just as no employee will work at an absurd low wage, no businessman/woman is going to invest large amounts of time and money for a small profit. Maybe a a small business owner heavily in debt and unable to walk away would choose option 5, but a successful owner of a large business owner will not. They will retire or liquidate and find another business venture. You haven't lived until you try to sell a big business making small profits, which is why large companies often close. Finally the financially strapped small business owner is not likely to have many employees.
I would never invest my money in a business that paid me the same amount of money as my employees. I go get a job working for someone else and let my employer have the stress of the financial investment and operation of the business if I was just going to make employee wages. Business ownership is hard and stressful work.
Higher wages mean higher prices or closed businesses almost 100% of the time.
Fellow business owner (20+ years) here to confirm all of the above. These are facts, & anything you hear to the contrary is propaganda. It is now up to you to decide what to believe, we can do no more.
I should also point out that this is nothing new (as much as the OP would love to point fingers). The figure posted actually seems low. Here's an article from 2017. I can find one for the last 20 years or more if I need to.
I should also point out that this is nothing new (as much as the OP would love to point fingers). The figure posted actually seems low. Here's an article from 2017. I can find one for the last 20 years or more if I need to.
What's new is that in that 2017 article, less than 10% of those earning more than $100,000 were living paycheck to paycheck. Now, it's 48%. That's a huge jump.
Car payments, house payments, credit card debts, private schools tuition, property taxes, higher income tax brackets, medical insurance, etc.
Told you all that if you are middle income earners, the Democrats were gunning for your wallets but you suburban folks thought you were immune to their policies and thought it was more important to virtue signal your liberalism to your friends and neighbors.
You get what you voted for.
Yep. It really is mindboggling in many ways.
It is rather comical, actually, to see the left scrambling on the issue of increasing gas prices, both on the subject and not on the subject of the current Russian aggression. They are pondering whether we should buy more oil from Iran and other loony ideas This after they spent years working to kill the Keystone Pipeline and other efforts that would have gone a long way towards our country achieving functional energy independence.
What isn't funny is the extra expenses that folks like me--who wanted nothing to do with this rotten leftist agenda--are experiencing. Thankfully, I can more than afford the increased prices, but that's not the point.
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This after they spent years working to kill the Keystone Pipeline and other efforts that would have gone a long way towards our country achieving functional energy independence. 
