NEWYou can now listen to Fox News articles!
Miami Mayor Francis Suarez explained how rising inflation and interest rates are affecting American families on Saturday’s “One Nation” show.
FRANCOIS SUAREZ: It is a regressive tax. What’s happening is that most people at the lower end of the income spectrum have their money in banks that don’t pay interest and lose purchasing power. Rents are skyrocketing across urban America. I was recently with the mayor of Austin, the mayor of Denver, the mayor of New York. I’m the president of the Conference of Mayors and we all marvel at, you know, that rents have gone up over 50% in all of our cities. It’s the socialist model gone wrong and gone wrong, where the government spends more than it takes in. Where you now have a supply chain shortage that is exacerbating inflation at historic rates. And then, of course, the solution, according to Democrats, is more government, which we’ve seen in places like Cuba and Venezuela just doesn’t work.
CLICK HERE TO GET THE FOX NEWS APP
I mean, there are states in this country where people pay over 50% of their income in taxes. This means that the government is more than your partner. It means you work for the government instead of the government working for you. It makes no sense and it destroys cities, just as it destroyed the countries of Venezuela and Cuba.
WATCH THE FULL SEGMENT BELOW: