![]() |
Image Attribution: www.shutterstock.com |
Encouraged by my late father - thank you, Dad - I studied economics in school. Little did I know, the degree would provide me with an understanding of things such as supply, demand, inflation, markets and the like. Inflation. Much about this subject has been written, opined, commented upon, and dissected recently. Sure. Inflation is a tax. Why you might ask? Because if you go to your local Chevron, insert your debit card, pop open your tank and fill ‘er up - you’re shocked at how few gallons $20 will buy. Not long ago - like in early 2020 - gasoline prices were in the mid $3.00 per gallon range. Now? North of $5.00. Simple math. Gasoline is now 42.8% more expensive! Have your wages increased 42.8%? Yeah. I didn’t think so. So, with slightly more in your paycheck this year - say 4.5% - and with one of the things we buy often - gasoline - 42.8% more expensive - your take home pay has been “taxed”. Because, quite simply, your dollars are fewer and buying power decreased.
No comments :
Post a Comment