CNN posted an article on its website Wednesday titled “Why inflation can actually be good for everyday Americans and bad for rich people” by CNN senior editor and business writer Allison Morrow. Since working-class Americans are more likely to rent, they are more likely to have their landlord raise their rent to compensate for the inflation they are experiencing. Traditionally, economists have called inflation “the cruelest tax,” because it hurts the poor, minorities, and people on a fixed income the worst. CNN has reported this fundamental economic principle numerous times, as recently as two weeks ago. On November 17, CNN published an article titled “The Americans who are getting the worst of the surge in inflation.” which stated that inflation-drive price hikes “disproportionately harm low-income, [b]lack and brown families.
Source: CNN December 03, 2021 16:53 UTC