POLL: Most Workers are Complaining About Inflation Destroying Their Wages
According to a Rasmussen poll, 55% of American adults work full-time indicated that over the last two years inflation has outpaced their income growth.
40% stated that their income has kept apace with inflation. 51% of full-time American workers signaled that they have to work more hours or take on an extra gig to help keep pace with inflation, whereas 47% haven’t.
76% of individuals making less than $30,000 annually and 66% of workers making between $30,000 and $50,000 annually stated that their income has not kept pace with the inflation rate in the last two years. By contrast, 52% of individuals making between $100,000 and $200,000 annually and 74% of Americans making $200,000 annually said their income has kept pace with the inflation rate.
Among all adults polled, 54% indicated that they have a full-time job. 44% said they are not currently employed on a full-time basis.
51% of white voters, 65% of black voters and 55% of non-black minorities indicated that they have a full-time job. Blacks and other non-black minorities who hold full-time positions are less likely than whites to indicate their income has kept up with inflation in the last two years. 47% of white voters, 58% of black voters, and 55% of non-black minorities reported working more hours or taking extra jobs to keep up with inflation.
55% of Democrat voters with full-time jobs indicated that their income has kept up with inflation, compared to 36% of Republican voters or 31% of independent voters. Interestingly, Democrats were more likely to indicate they’ve worked additional hours or taken an extra job to help keep up with inflation.
33% of private sector workers and 55% of government employees noted that their incomes kept up with inflation over the last two years.
Inflation is a scourge that pummels the middle class like no other. It’s a hidden tax that’s enabled by loose monetary policies that the political class pursues. The US’s current inflationary episode is but a mere preview of the horrors to come if the country’s easy money system is not checked.
The ultimate way to prevent this nightmare scenario is by abolishing central banking and implementing a system of competing currencies.