Freshman Rep. Nancy Mace (R-N.C.) said Monday that although President Joe Biden and the Democrats have said they will not raise taxes on low- and middle-income earners, out-of-control spending by the federal government is causing inflation and is a form of taxation. …Some Fed officials are not fully convinced that inflation is temporary. St. Louis Fed President James Bullard said Monday that the economy is in unprecedented territory, making it hard to know where inflation will go next… …“When I go to the grocery store today, I’m shopping on the exterior aisle—meat, fruit, and vegetables—because the cost of groceries has gone up 21 percent. The cost of lumber to build a house, up 381 percent, which means to build a house today, over last year, is 30 percent more expensive today than it was a year ago. And after Colonial Pipeline, we all saw gas prices go up. My gas prices have stayed up. They haven’t gone back down,” said Mace.
