As RedState has reported many times in the past few months (see Here, Here, with Here), the current inflation predicament is hitting the middle class hard. Prices have risen almost across the board, from groceries to almost anything that contains wood or metal.Things are too bad Historical milestones Has reached a percentage of year-on-year inflation growth.
Of course, gasoline costs have also risen at an alarming rate. Although some of this may be due to overall inflation caused by government spending, most of the increase is a direct result of the policies implemented by Joe Biden and his leaders. administrative. From the cancellation of pipelines to the closure of oil and gas leases, the United States once again relied on foreign oil, which has almost doubled the cost of natural gas in many parts of the country.
But don’t worry. Joe Biden has a plan to help you, which includes taking away more money from you. I will explain after editing.
In response to soaring oil prices, Biden vowed to increase taxes to natural gas companies by US$90 billion each year pic.twitter.com/FLWfxU5vQC
— Tom Elliott (@tomselliott) July 7, 2021
Do you know what happens when you increase taxes on oil and gas companies by nearly $100 billion and we are already in the midst of a cost explosion? The price of energy, whether it is gasoline or electricity, has skyrocketed even more. Does this sound like something helpful to the middle class? What exactly is that part of the “Rebuild Better” agenda?
Biden touted this proposal as a way to pay for the “childcare tax credit,” which appears to be a redistribution of the wealth of the American working class to wealthy urban residents who currently pay more than $1,500 per month for day care. A considerable redistribution. Ask yourself who uses the most gasoline in this country. The answer is truck drivers, construction workers, delivery drivers, home health nurses, and various other blue-collar occupations. At the same time, in urban enclaves that take the subway or bike to work, the people who use the least gasoline are wine-drinking liberals. In other words, what Biden is proposing is just another return to the group of ultra-left theorists he has chosen.
To be honest, this proposal is crazy. People have suffered enough. In addition, anyone with a pulse knows that the government is absolutely terrible at managing funds. If they deduct $90 billion in new taxes from the economy, you can expect to get a small portion of the benefits, and even so, it will only be returned to very targeted people. The rest of the money will be sucked up by the bureaucratic state as always.
I really don’t understand left. It is one thing to be ideologically attached to certain ideas, especially in culture, but economics is an objective reality. Higher taxes will be passed on to consumers, which is certain for goods that almost everyone buys like gasoline. After that, the economic slowdown due to the above tax increase will hurt everyone, especially the poor and the middle class. So why do you want to do this? Is it just to create a crisis for political gain? This is the only explanation I can think of.
