By Dean Baker Center for Economic and Policy Research That’s what readers must conclude after reading this Washington Post’s piece on President Biden’s plans to increase corporate taxes and taxes on the rich. At one point, the piece reports the response to these plans from Rep. Steven Scalise (R-La), the second-ranking Republican in the House: “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.” While it then turns back
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by Dean Baker
Center for Economic and Policy Research
That’s what readers must conclude after reading this Washington Post’s piece on President Biden’s plans to increase corporate taxes and taxes on the rich. At one point, the piece reports the response to these plans from Rep. Steven Scalise (R-La), the second-ranking Republican in the House:
“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.”
While it then turns back to people discussing the merits of Biden’s proposals for taxing corporations and the rich, it neglects to point out that Biden’s energy policies have resulted in record levels of oil production.
This is a dubious accomplishment for those of us concerned about global warming, but it points out that Scalise’s complaint that Biden’s policies have led to higher gas prices is a lie. The rise in world oil prices, and the resulting increase in gas prices, is primarily due to the robust recovery from the pandemic recession, not Biden’s energy policies.