The Democrats found an easy way to end inflation. Why not give every American $100 each month? A Congress amendment could also grant $100 per month to children, meaning that a family of three to four children would be eligible for $300 per month in “Bidenbucks.” ”
It’s impossible to predict the impact of all this deficit spending on the inflation rate. If inflation becomes too severe, you can always print more “Biden Dollars”. To print all the money they need, they would have to clear the Enchanted Forest.
CBSNews: Americans could see an increase in gas prices of $2,000 for this fiscal year. This is on top of the $1,000 additional grocery store expenses due to the steepest inflation rise since 1982. The majority blame sticker shock at gas pumps.
Thompson stated that the gas stimulus would provide monthly payments to middle-class Americans in order to reduce the financial burden of this global crisis. Thompson was referring specifically to Russia’s invasion of Ukraine, which has driven gas prices up.
According to AAA, current gas prices are $4.24 per gallon. The payments would be available to millions of Americans.
The Gas Rebate Act, is a bill being proposed by John Larson and Lauren Underwood, Democrats from California. While there is no word on the payment of the Bidenbucks, history has shown that Congress will overlook this detail when it passes the bill.
Accordingly, to legislators, the Big Oil Windfall Profits Tax will levy a per-barrel tax equal to 50% of the difference in the price of a barrel of oil and its average price before pandemic between 2015 and 2019.
Two legislators estimated that, at $120 per barrel, the tax would raise $45 billion annually. This will give single filers $240 and joint filers $360, respectively.
In 1980, Congress created a new tax called “Windfall Profits Tax”. In 1980, Congress created a new “Windfall Profits Tax”.
It is difficult to reduce the complexity and bureaucratic gibbering of the oil industry to a single taxing method that maximizes profits.
I have a bridge across the Chicago River that I would love to sell if you believe a “Big Oil Windfall Profits tax” would bring in $45 billion.
It won’t even be needed.