Unexpectedly, the Jobs Report Comes In "Far Below Expectations"

America is back, baby!

The latest jobs report released Friday revealed a slowdown in job growth and an increase in unemployment from the month of April, highlighting the continued failure of Bidenomics. The economy added a mere 175,000 jobs in April, falling short of economists' expectations, while the unemployment rate rose to 3.9 percent.

Key Details:

The underemployment rate reached its highest point since November 2021.

The number of people working multiple jobs to make ends meet increased by 8.8% over the last year, a 27.8% increase since Biden took office in January 2021.

Wage growth is not keeping pace with inflation, leaving middle-class families struggling.

Diving Deeper:

The jobs report for April paints a grim picture of the current state of the economy under the Biden administration. Despite predictions of a robust 243,000 job increase, the actual figure fell significantly short at 175,000--with eventual revisions expected to lower that number further. This disappointing figure is indicative of the broader economic issues plaguing the nation, with the underemployment rate reaching its highest point since November 2021.

Recall that economic growth just slowed down "massively."

As the country falls into recession and stagflation, Biden is pushing for a big new tax hike -- engineered to make white people poorer to "reduce racial income inequality."

Will Kessler at the Daily Caller:

'Economic Suicide': Biden Admin Justifies Tax Hike Based On Racial Criteria

The Biden administration's analysis of its revenue proposals for fiscal year 2025 argues targeted tax hikes that disproportionately affect white people would ease racial wealth inequality.

Increasing taxes on capital gains and income-based wealth would reduce racial wealth inequality for black and Hispanic families, the Treasury Department outlined in the analysis published in mid-March. The Treasury points out that white families disproportionately hold assets subject to capital gains tax or are in a higher tax bracket, meaning a hike in those taxes would benefit black and Hispanic families.

The Biden administration argues for taxing capital income for high-income earners at "ordinary rates," increasing the top rate from 37% to 39.6% for those who earn more than $1 million a year. Taxes on net investment income would also be hiked by 1.2 percentage points to 5% for those who make over $400,000 per year, bringing the total top marginal rate to 44.6%.

"Taxing capital gains at 44.6% at the federal level -- not to mention state taxes -- would be economic suicide," Preston Brashers, research fellow for tax policy in the Heritage Foundation's Grover M. Hermann Center for the Federal Budget, told the Daily Caller News Foundation.

posted by Disinformation Expert Ace at 12:13 PM

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