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Despite Inflation Crisis Beginning Under Biden, He Claims Republicans Will Make It Worse If They Win

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On Thursday, Democrat President Joe Biden claimed that the inflation crisis would “get worse” if Republicans win back Congress in November. Meanwhile, the rate of inflation is nearly 6 times higher than it was when Biden entered office.

Biden’s comments came the same day the Bureau of Labor Statistics released their report on inflation numbers in September, which showed that prices rose 0.4% in September and 8.2% over the last year.  Core inflation, which excludes volatile energy and food prices, rose 0.6% in September and 6.6% over the past 12 months, the largest 12-month increase since August 1982.

Biden said that “the biggest thing [Republicans] say they want to do, they want to get rid of — get rid of — the number-one priority, and they’ve spoken to it: They want to repeal the Inflation Reduction Act.”

Notably, the Democrats’ “Inflation Reduction Act” is projected to reduce after-tax incomes for Americans in every income bracket and worsen inflation, according to a report from the nonpartisan Tax Foundation.

According to the report, “the Inflation Reduction Act would reduce long-run economic output by about 0.2 percent and eliminate about 29,000 full-time equivalent jobs in the United States. It would also reduce average after-tax incomes for taxpayers across every income quintile over the long run.”

“By reducing long-run economic growth, this bill may actually worsen inflation by constraining the productive capacity of the economy,” the report added.

Biden continued by claiming without evidence that “Republicans are going to make you — working, middle-class folks — pay higher taxes.”

“And the biggest corporations — and, by the way, in every single piece of legislation I’ve gotten passed with the help of the people here, we have not raised the tax on anybody making less than 400,000 bucks a year one penny. I wish I was making 400- — you were making 400 grand.  But not a single penny.  No, I mean it: not a single penny,” Biden falsely claimed.

“If Republicans win, inflation is going to get worse.  It’s that simple,” Biden said.

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