My name is Ms. Halpin and I am a teacher. The U.S. government has INCREASED my taxes!
Now my apartment looks terrible! No new furniture! Stupid taxes!
In the United States, GDP is growing steadily. However, prices have continued to sky-rocket. To buy a gallon of milk it costs $10. What will the President do to slow down inflation?
The United States government has decided to put Contractionary Fiscal Policy in effect. This will increase taxes to try and cool off high inflation. This effects Ms. Halpin, a teacher, because she has less money in her paycheck to buy goods/services.
Since the government has decided to cool off the hyperflation by increasing taxes, Raymour and Flangian has canceled Ms. Halpin's order of new furniture. She can no longer afford it due to increased taxes!