Miami mayor warns government overspending is 'socialist model gone wrong' as inflation soars

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Miami mayor: This is the socialist model gone wrong and awry

Miami Mayor Francis Suarez and former Home Depot CEO Bob Nardelli weigh in on inflation and the president declaring war on big business on 'One Nation.'

Miami Mayor Francis Suarez discussed how rising inflation and interest rates are affecting American families on Saturday's "One Nation."

FRANCIS SUAREZ: It is a regressive tax. What happens is most people who are in the lower part of the income spectrum have their money in banks that are not earning interest and that are losing purchasing power. Rents are through the roof 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're all marveling at, you know, the fact that rents are up in all of our cities over 50%. This is the socialist model gone wrong and gone awry, where government spends more than what it takes in. Where now you have a supply chain shortage that exacerbates inflation to historic rates. And then, of course, the solution, according to the Democrats, is more government, which we've seen in places like Cuba and Venezuela just doesn't work. 

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I mean, there are states in this country where people are paying more than 50% of their income in taxes. That means that the government is more than your partner. That means that you work for the government instead of the government working for you. It just doesn't make any sense and it's destroying cities, just like it destroyed the countries of Venezuela and Cuba. 

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