March 23, 2022
Democrats plot to halt inflated gas prices by ... printing more money
By Monica Showalter
Democrats don't seem to ever learn Economics 101, do they?
That's obvious enough in their various bone-headed schemes to beat soaring gas prices at the pump by throwing new money at the problem.
Fox11 has the story:
One proposal comes from Reps. Mike Thompson of California, John Larson of Connecticut, and Lauren Underwood of Illinois.
The congressional lawmakers propose the Gas Rebate Act of 2022 where Americans would get an energy rebate of $100 per month (and $100 for each dependent) for the rest of 2022 in any month where the national average gas prices exceed $4.00 per gallon.
"Americans are feeling the impact at the pump of Vladimir Putin’s illegal invasion of Ukraine, and right now we must work together on commonsense policy solutions to ease the financial burden that my constituents are feeling," Thompson said in a news release. "The Putin Price Hike is putting strain on our economy, and I am proud to be working with Reps. Larson and Underwood to introduce this legislation to provide middle-class Americans with monthly payments to ease the financial burden of this global crises."
The rebate follows the same phaseout as the most recent Economic Impact Payments (EIPs) where $100 will be given for single filers earning less than $75,000 and phased out to $80,000. The other part includes $100 for joint filers more than $150,000 and phased out at $160,000.
Ah. Putin did it. As if the inflated prices of fuel at the pump didn't start until Putin went medieval on Ukraine. Powerful guy, that Putin, commanding all those energy prices.
The logic of this bad idea is that gas prices can be treated with COVID-style stimulus checks -- everyone gets one, and the Fed can print up another batch of cash to take care of the payouts.
What's wrong with this picture?
more
https://www.americanthinker.com/blog/2022/03/democrats_plot_to_halt_inflated_gas_prices_by__printing_more_money.html
