Page 15 - amm2

Continued from page 13
House chief of staff Ron Klain that inflation is a “high- class” problem is insulting.
Even harder hit is those on fixed incomes, including seniors who rely on Social Security and perhaps a small pension. Automatic cost-of-living adjustments lag behind the rate of inflation. For example, even though Congress passed the National Defense Authorization Act, which included a 2.7% pay increase for military personnel, that doesn’t even cover half the inflation rate. Those who protect us deserve better.
It’s not just Ron Klain in the White House who tried to minimize inflation’s impact. Press secretary Jen Psaki and Biden himself have tried to pivot, blaming the private sector. Biden blames oil companies for the increase in the price of gas and Psaki blames big meat producers for the doubling of the cost of hamburger. But Americans aren’t fooled. Even the narrative that inflation is “transitory” has been abandoned in the face of indisputable evidence that inflation shows no signs of subsiding.
Inflation is the direct result of bad government policy. And when government policy erodes the purchasing power of money, let’s call this for what it is: A cruel
tax hike. California, as well as many other states, allows voters to approve or reject tax increases in many situations. But inflation is a tax that was never voter approved.
Politically, progressives are hoping that inflation can be controlled prior to the midterm elections later this year. That is highly unlikely. In fact, all indications are that this genie is going to be especially difficult to stuff back into the bottle and may be a central issue in the presidential election in 2024. Between now and then, however, citizens are in for a rough ride. And if you think inflation is bad now, it could get worse. We could easily slip back into an era of “stagflation” with a combination of double-digit inflation, double-digit interest rates and negative economic growth. That’s what Jimmy Carter brought us in the 1970s and it will take stalwart political leadership in the mold of Ronald Reagan to right the ship.
Jon Coupal is President of the Howard Jarvis Taxpayers Association. The opinions expressed in this article are those of its author and not necessarily those of the Apartment Association of Greater Los Angeles. This article is being reprinted with permission from the Howard Jarvis Taxpayer Association and the author.
DURO ROOFING INC.
LEADER OF COOL ROOF
& REPAIR SPECIALIST
LIC #1029038 C-39
NEW ROOFS | RE-ROOFS | SILICONE ROOFS | REPAIRS
APARTMENTS | RESIDENTIAL | COMMERCIAL & INDUSTRIAL
SHINGLES TILES SLATES SILICONE ROOF WARRANTY 50 YRS
✓ Silicone Roof Specialist
✓ Fully Bonded & Insured
✓ Providing quality service to our valued customers for an afforable price
✓ Approved by all Roofing Material Manufacturers
FREE ESTIMATES
25 YEARS EXPERIENCE
TOLL FREE 866-243-5681
213-263-9830 / 213-703-5917
youngroofingcompany@gmail.com www.youngsduroroofing.com
3075 Wilshire Blvd. #712 Los Angeles, CA 90010
HOT MOP
TORCH DOWN ENERGY TORCH DOWN POLYURETHANE
TPO
WARRANTY
10 YRS
10 YRS 10 YRS 10 YRS 20 YRS
AMM2 APARTMENT MANAGEMENT MAGAZINE - FEBRUARY 2022 15