From Sovereign Man:

Sticker shock in grocery store checkout lines and gas pumps around the western world is starting to set in. At this point, you have to be living under a rock to not notice that prices of goods and services around the world are increasing substantially.

Much of the blame for rising prices has rightfully been levied on the uncontrolled expansion of central bank balance sheets – the U.S. Federal Reserve, for example, created more money in the last two years than it had in the previous 200. Rejecting the possibility that any of this money could impact consumer prices is just intellectually dishonest.

There is another factor, however, that weighs heavily on inflation, and is seldom discussed in this context: taxes.

Everybody hates paying taxes… But what few people realize is that tax hikes fuel rising prices. When payroll tax rates, import duties, corporate profits tax rates, sales tax rates, etc. increase, it's always the end consumer at the cash register who gets stuck footing the bill.

This is happening across the world right now, including in the United States...

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