A controversial New York Times writer has once again sparked criticism online after claiming that the 'inflation hysterics' mainly affect the wealthy, disregarding reports of highest inflation increase in three decades.
'All the stuff you see about inflation in the news is driven by rich people flipping their s*** because their parasitic assets aren't doing as well as they'd like,' Sarah Jeong, a former Times editorial board member, tweeted on Tuesday.
'And they're scared that unemployment benefits + stimmy checks + 15 minimum wage + labor shortage is why ~[just my thoughts]~' she added.
Outraged Twitter users rushed to point out flaws in Jeong's argument, asserting that inflation and increase in the cost of living affected middle America the most. Last week, the Department of Labor reported a 6.2 percent increase in the consumer price index - the largest annual increase since 1990.
Jeong, who is now an editorial writer at the Times, previously came under scrutiny when several of her derogatory tweets against white people resurfaced in 2018.
Jeong is a Harvard Law School graduate who has written for The Atlantic, The Washington Post, and The Verge, and was named one of Forbes '30 under 30' for media in 2017.
In 2019, Jeong voluntarily resigned from the NYT editorial board after she planned a boycott against the paper, Fox reported.
'All the stuff you see about inflation... is driven by rich people flipping their s*** because their parasitic assets aren't doing as well as they'd like,' Sarah Jeong, a former Times editorial board member, tweeted on Tuesday sparking online outrage
Jeong didn't back from her comments, and hours later tweeted that she didn't regret the controversial tweets even after claiming to have received death threats
Jeong is a Harvard Law School graduate who has written for The Atlantic, The Washington Post, and The Verge, and was named one of Forbes '30 under 30' for media in 2017
The Consumer Price Index rose 6.2 percent in October 2021 from one year prior - the highest it has been since 1990
After her remarks on Tuesday, many jumped to argue her claims and accused her of being out of touch with how inflation affects poor families in the US.
Political commentator and Outkick founder Clay Travis weighed in and wrote that Jeong's tweet was a failure to comprehend basic economics.
He contended: 'Rich people are far less impacted by inflation than poor people because rich people spend a comparatively smaller amount of their income on products. Inflation is a massive default tax on the poor.'
'The War on Small Business' author Carol Roth said that Jeong's claim made absolutely no sense and could easily be debunked.
'Inflation is a tax that impacts the middle class and poor the most. Facts > feels,' she tweeted.
But Jeong didn't back from her comments, and hours later tweeted that she didn't regret the controversial tweets despite having received death threats.
'[W]aaaaah the working class's income is keeping pace with or outstripping inflation but my capital gains aren't boo f---ing hooooo,' she wrote.
She continued: 'Very spooky scary to think of the moment the poors realize inflation favors debtors and that that's what the hubbub is about, and not milk prices.'
Political commentator and Outkick founder Clay Travis contended: 'Rich people are far less impacted by inflation than poor people because rich people spend a comparatively smaller amount of their income on products. Inflation is a massive default tax on the poor'
'The War on Small Business' author Carol Roth said that Jeong's claim made absolutely no sense and could easily be debunked
'I have like all notifications turned off on here and I turned off comments on the original tweet, so mostly I know I've riled people up real bad because of the clustering of death threats in my email inbox and well… I don't regret it.'
In 2018, a number of Jeong's controversial tweets were collected by a Twitter account called 'Garbage Human' and quickly caught the attention of conservative news sites.
In one tweet Jeong simply wrote the hashtag #CancelWhitePeople, and in another says 'white men are bulls**t'.
Jeong also joked about the joy she gets from 'being cruel to old white men'.
Back then, the New York Times stood by her and said she had been hired 'because of the exceptional work she has done covering the internet and technology' and that 'the fact that she is a young Asian woman [has] made her a subject of frequent online harassment.'
Jeong, who is now an editorial writer at the Times, had priorly been under scrutiny when several of her derogatory tweets against white people surfaced
A number of Jeong's controversial tweets were collected by a Twitter account called 'Garbage Human' and quickly caught the attention of conservative news sites in 2018
In one tweet from 2014, Jeong simply wrote the hashtag #CancelWhitePeople, and in another says 'white men are bulls**t'
According to the Consumer Price Index, gas prices jumped a whopping 59 percent over last year, as the cost of meat increased 24 percent.
Fuel prices also increased 12.3 percent over September 2021, and soared 59 percent over the past year.
Energy prices overall, meanwhile, rose 4.8 percent in October 2021, and are up 30 percent compared to last year. They may go up even more, the Energy Department warned, as temperatures decrease this year.
The cost of food was up nearly 1 percent compared to September, and 5.4 percent over the past year, with cereals up 4.5 percent, bread up 24 percent, bacon up 20 percent and meat up 24 percent compared to last year.
Furniture prices rose 12 percent from last year, while laundry appliances were up 15 percent, and sporting goods were up 8.7 percent.
Even used cars and trucks increased 25 percent in just one month, and 26.4 percent for the year.
Many companies have struggled to meet an unexpectedly strong demand following the pandemic, creating labor, raw materials and goods, and snarled traffic at ports and freight yards. The result has been higher prices, and the supply squeeze is expected to last at least well into 2022.
The Consumer Price Index shows a rise in prices in every category from used cars, laundry equipment, furniture to food
Post a Comment