by Dean Baker
That’s what readers should conclude after studying this Washington Publish’s piece on President Biden’s plans to extend company taxes and taxes on the wealthy. At one level, the piece reviews the response to those plans from Rep. Steven Scalise (R-La), the second-ranking Republican within the Home:
“He tries to act like it’s not going to affect certain people, but when you raise taxes, it hits everybody, especially low-income families. Look at what his energy policies have done. The people hit the hardest are low-income families paying higher gas prices, paying more at the grocery store and more for their household electricity bills all because of bad Biden policies.”
Whereas it then turns again to folks discussing the deserves of Biden’s proposals for taxing companies and the wealthy, it neglects to level out that Biden’s power insurance policies have resulted in document ranges of oil manufacturing.
It is a doubtful accomplishment for these of us involved about world warming, but it surely factors out that Scalise’s grievance that Biden’s insurance policies have led to increased gasoline costs is a lie. The rise in world oil costs, and the ensuing enhance in gasoline costs, is primarily as a result of strong restoration from the pandemic recession, not Biden’s power insurance policies.
