Former President Donald Trump harshly criticized the economic policies of President Biden, referring to the current high inflation as “Bidenomics” and the “Biden Inflation Tax”.
He asserted that inflation under Biden has skyrocketed the costs of groceries, electricity, gas, and car insurance by 40-60%, draining $1,165 per month from typical Minnesota families.
Trump argued real wages are down 5% while Biden has falsely claimed inflation was only 9% when taking office.
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“Groceries are up 22 percent, eggs are up 50 percent, electricity’s up 40, 50, 60 percent, gasoline is up 56 percent, car insurance — you can’t even get it,” Trump said. “It’s up 52 percent if it’s available, and then if you need it, they don’t give it to you. They fight you like hell. And, meanwhile, real wages are down by almost five percent. This is what we have. This is Bidenomics.”
“His inflation catastrophe is, in effect, a colossal tax on American families. We will call it the ‘Biden Inflation Tax,’” Trump added. “It’s the biggest tax in history. It’s called an inflation tax. It’s about 50 percent. This is like going to Congress and raising your hand for a 50 percent tax — that’s what it is. When I left office, and we had virtually no inflation we had nothing, only success.”
He said the high inflation has made it impossible for millions, especially young Americans, to afford homes, cars or rent.
Trump laid the blame squarely on Biden’s policies for fueling inflation and diminishing Americans’ purchasing power.
Trump noted that the “Biden price hikes are continuing to drain $1,165 dollars from the typical Minnesota family budget every single month.”
“These numbers are staggering, and you know, somebody got a little bit of a wage increase, it doesn’t matter because the prices have gone up so much,” Trump added. “It’s a sad thing.”
Trump added, “One of the most vicious effects of the Biden Inflation Tax is how Crooked Joe has made it impossible for millions of Americans, especially young Americans, to buy a home, a car, or even make their rent. Young Americans are getting out of high school and getting out of college and it’s a disaster for them.”
