Posted on 06/03/2022 7:15:58 AM PDT by dynachrome
Stagflation, inflation blamed on foreign entities and “greedy corporations”, price controls, “windfall profits tax”, rising interest rates... welcome to the 1970s!
At lease we had good music in the 70's to listen to while in gas lines.
How f&%$ing dumb is this guy? Is there no one in DC who can point out the economic consequences of such an action. I sure hope you Democrats are happy.
That’s the global elite overlord’s plan.
You mean Defcon 1. Right?
Democrats are so predictable. Same old Democrat “solutions” to exacerbate the problem. What’s next? Price controls?
Or Zimbabwe.
And to date how much oil has been released from the Strategic Petroleum Reserves? Wasn’t it one million barrels a day for some six months (starting in March 22).
Well that has done a lot to lower gas prices right?
FJB!
And how much of that money will actually go to taxpayers? MAYBE 10%!
Just a year and a half ago we were a self sufficient country exporting energy.
I miss $1.87/gal.
Because this worked soooo well for Jimmy Carter....
The price of barrels of oil went up. It does not cost the oil companies any more than before to get it out of the ground. In the oh so distant past (a couple years ago) they would have invested in more exploration. Now they can’t do it. They can’t put pipelines in if they could so the whole windfall profit is solely on the Brandon administration.
Anybody who thinks that additional tax will filter down to the consumer is living under a rock! Commie Joe will likely send it to China or the Ukraine.
And the socialism continues until you get.....
Venezuela
Exactly.
The price of any item or commodity is determined by how plentiful it is in relation to demand or need.
For instance farmers know that bumper crops means that the selling price will be lower.
Gasoline and diesel are outstanding examples as is natural gas.
The way to end our inflationary spiral is to free up industries so they can produce more. That will require drastically modifying or reducing the power of regulatory agencies.
In a truly capitalistic economy, production of any and all goods follows the price and profit. High prices and high profits immediately bring about high production.
But a socialist can never understand that. If he could, he ould not be a socialist.
So exec branch can now raise taxes on targeted industries?
What the administration is proposing here to help with high pump prices is entirely wrong. What they are thinking of could only make things worse & lead to other problems. If they want this country to become like Venezuela, then they seem to be heading in the right direction. There had best be a complete turn-around at the next two elections.
Windfall tax ?
Now there’s an original idea!
Come back Sen Metzenbaum, all is forgiven.
Sure because if your supply isn’t keeping up with demand, the thing to do is tax suppliers more. That will help.
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