Biden’s Working For The Wealthy

While Working Class Americans Struggle With Higher Prices And Shortages, Biden’s Proposing Giveaways To Wealthy Americans

BIDEN LAUGHS AT THE STRUGGLES OF WORKING AMERICANS

• Biden’s out-of-touch agenda is subsidizing the affluent while leaving hardworking Americans behind.
• The Biden administration has repeatedly dismissed, mocked, and laughed at the struggles of American families.
  • During the White House Correspondents’ Dinner, Biden laughed at Americans struggling to afford food and gas.
  • White House Chief of Staff Ron Klain dismissed inflation and supply chain issues as “high class problems.”
  • Energy Secretary Jennifer Granholm said “that is hilarious” when asked about the administration’s plans to lower gas prices.
  • Then-White House Press Secretary Jen Psaki sarcastically mocked Biden’s supply chain crisis as a “tragedy.”
  • Transportation Secretary Pete Buttigieg joked about how difficult it will be for families to get Christmas presents.
  • White House official Liz Reynolds downplayed supply shortages as simply lack of choice, saying “you won’t be able to get the jacket in 15 colors.”
• Despite skyrocketing inflation and near-record gas prices, Biden continues to tout policies which will further burden lower- and middle-class families while benefiting the wealthy.

BIDEN’S STUDENT LOAN CANCELATION PLAN: “A WELFARE PROGRAM FOR THE BOURGEOISIE”

• Whether it is partial or full, Biden’s reported plan to cancel billions in student debt would disproportionately benefit the wealthy.
  • Former Obama and Clinton economic advisor Larry Summers: “I think most all serious economists are in agreement that across the board [student] debt reduction is regressive.”
  • Brookings Institution Senior Fellow Adam Looney said a blanket student loan cancellation would be the equivalent of “a tax cut for high-income, college-educated households.”
• Biden wants to cancel up to $10,000 of student debt for individuals making up to $150,000 and families making up to $300,000.
  • The Federal Reserve of New York recently estimated a policy like this would cost taxpayers $321 billion.
• Canceling student debt would “do little to help future college students, borrowers who have already paid off their loans and those who never went to college in the first place.”
  • Biden’s liberal hand out is blatantly unfair to the 44 percent of students who began a four-year degree since 2009 that have decided not to take out student loans.
• For many low-income borrowers, $10,000 debt cancelation would have “zero impact on their monthly student loan payments.”
• Biden’s agenda would require low-income taxpayers to pay off the debt of higher-earning college graduates.
• Student loan cancellation has been referred to as “a giant welfare program for the bourgeoisie” because 40 percent of student debt is held by students with advanced degrees such as doctors and lawyers.
  • Biden has even acknowledged that Democrats’ student loan policies would “disproportionately benefit students who go to ‘elite’ private colleges.”

BIDEN’S MESSAGE FOR AMERICANS STRUGGLING WITH GAS PRICES: BUY AN EXPENSIVE ELECTRIC VEHICLE

• Average U.S. gas prices have risen by more than $2.20 since January 2021, now roughly twice as expensive as when Biden took office.
  • Americans in all 44 states are paying average prices above $4 per gallon, and under Biden, all 50 states have hit new record high gas prices.
• The Biden administration’s solution to high gas prices is to tell American families to buy an expensive electric vehicle (EV) which many can’t afford.
  • The average cost of a new electric vehicle is nearly $67,000according to Kelly Blue Book.
  • Transportation Secretary Pete Buttigieg said that “we are in the middle of a long-term transformation” and that the solution to rising gas prices is electric vehicles.
  • Then-White House Press Secretary Jen Psaki said that “the rise in gas prices over the long term makes an even stronger case for doubling down on” radical green energy policies.
  • Energy Secretary Jennifer Granholm told Americans struggling with Biden’s gas hike that the solution is to buy an expensive EV.
  • It’s not just the White House -  Debbie Stabenow (D-MI) bragged that “it didn’t matter how high [gas] was” while passing gas stations in her brand-new EV.

BIDEN’S ELECTRIC VEHICLE TAX CREDIT BENEFITS THE WEALTHY

• Biden’s electric vehicle tax credit benefits the wealthy at the expense of the middle class and poor Americans, as the policy uses less affluent Americans’ money to entice more affluent Americans to buy EVs.
  • Teachers, nurses, and factory workers will be forced to pay higher taxes for a program which benefits the wealthy.
• Most individuals who claim the electric vehicle tax credit earn far more income than the national average.
  • A study from the Fuels Institute found that “the top demographic” for electric vehicle owners was “middle-aged white men earning more than $100,000 annually with a college degree or higher.”

BIDEN LEAVES HARDWORKING AMERICANS BEHIND

• As Biden’s agenda caters to the wealthy, hardworking Americans are being hit the hardest by skyrocketing inflation and historic gas prices.
  • Bidenflation is disproportionately impacting low-income families as 73 percent of low-income adults are worried about maintaining their standard of living– up 17 points since last year.
• June’s Consumer Price Index surged by 9.1percent compared to last year – a 40-year high – while real average hourly wages fell 3.6 percent due to inflation.
  • According to a May Pew Research poll, 99 percent of Americans view inflation as a problem.
• According to an estimate from Congress’ Joint Economic Committee, inflation is now costing the average American family an extra $718 per month – the equivalent of $8,600 per year. 
• Food banks have begun to see an uptick in demand as Americans across the country have now turned to them in order to feed their families. 
  • Nationally, high demand and soaring inflation has left food banks rationing “what goes out” to the community.
  • In North Carolina, a mother who resorted to a local food pantry to feed her children said, “it’s devastating. Right now times [are] so hard to feed my kids.”  
  • In Michigan, lines have “only gotten longer” at food pantries due to rising food costs. 
  • In Washington, one mother said “It's hard to survive. It is. It's really hard to survive” due to Bidenflation.