This is Something to Think About 02.11.22 “We Just Learned Your Taxes Increased By 7.50%”
Something to Think About
Audio By Carbonatix
Bill Bunkley’s “This Is Something to Think About”
Air Date Friday, February 11, 2022
“We Just Learned Your Taxes Increased By 7.50%”
Bill Bunkley with Something to Think About
We just learned your taxes increased by 7.50%.
The federal government won’t refer to this increase as a tax, but effectively that is precisely what has happened.
The Labor Department announced that the January Consumer Price Index increased by a whopping 7.5% since January 2021. It’s the fastest annual increase since 1982, four decades ago, when inflation hit 7.60%.
That means your buying power has decreased by 7.50%. And at least for the short term, the dollars in your wallet or purse will lose even more value in the weeks ahead.
For those of you who received a pay raise this past year, it may be canceled out and may even be a net pay decrease when buying goods and services.
This hardship will affect Florida’s poor in disproportionate numbers.
Hopefully, prices will start receding soon.
Bill Bunkley is a 15-year veteran Salem Radio talk show host based in west-central /Florida, airing weekdays 3 to 6 pm. Bill is also President of the Florida Ethics & Religious Liberty Commission, which serves as legislative consultant to the Florida Baptist State Convention (Southern Baptist Churches throughout Florida), among other churches and entities. He has served as legislative consultant to the Convention for the last 24 years at the state capitol in Tallahassee.
Copyright © William H. (Bill) Bunkley 2022 All Rights Reserved
