UAW and automakers should fight Washington, not each other

UAW and automakers should fight Washington, not each other. Both groups are suffering because Bidenomics caused inflation to rise and that's essentially a hidden tax.

The reason for this sad state of affairs lies in the fact that inflation is a hidden tax. It is a way for the government to silently rob workers and businesses alike of their purchasing power. The trillions of dollars of excess government spending over the last three years are still being paid for today through this hidden tax.  E. J. Antoni is a research fellow for regional economics in The Heritage Foundation’s Center for Data Analysis and a senior fellow at Committee to Unleash Prosperity.

That has left firms with smaller margins from which to give raises, a key reason why wages haven’t kept pace with inflation. Real (meaning inflation-adjusted) weekly earnings are down almost 5% under Biden. Meanwhile, real corporate profits have been falling for months, with manufacturing corporations’ real profits falling every quarter for the last year and a half.