Insight - June 20th, 2022
Insight
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20-Jun-2022
Today on Insight, John and Josh Rosenstern discuss how Americans are handling the inflation before us, and how it is greatly affecting low-income earners the most. Brother Josh says high-income earners are paying some 30-percent of their income on their daily living expenses, while low-income earners are spending nearly 90-percent of their earnings on their monthly bills, with many dipping into their personal savings to make ends meet. Brother Josh says the Biden Administration says it is working to address the situation by helping to bring down the cost of prescription drugs and raise taxes for the rich, neither of which will help the problem. Raising taxes will only increase inflation. Brother John says the rich pay tax on what they earn, and the poor pay more taxes on what they purchase. This will only make the poor poorer and more dependent on the government as prices will continue to go up. The wealthy will lose their desire to work when more and more of their money is taken through higher taxes. The answer to all the problems before us is not more government control or increased policies; we need to get back to the biblical principles that America was founded on.
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