“ Inflation ” is the new buzzword of the year . It is the reason for the Federal Reserve ’ s interest rate hikes designed to increase the costs of some loans . It is the excuse given against renewing the expanded child tax credit program that briefly lifted millions of American families out of poverty . It forms the name of one of the key pieces of legislation that may salvage President Joe Biden ’ s first term : the Inflation Reduction Act . And , it is the basis of Republican complaints against Democrats heading toward the midterm elections this fall .
With all this concern over inflation , one wonders why so little heed has been paid to another “ i ” word : inequality .
For decades , government officials , media pundits , mainstream economists , politicians , and others were content to allow and even enable money to flow upward , enriching the already wealthy . They paid little heed to increasing inequality , beyond shrugging their shoulders and lamenting the injustice of it all .
To fiscally conservative politicians , it seems that inflation equates to trouble , but inequality is perfectly tolerable .
Senate Minority Leader Mitch
The Trial Lawyer x 81