Karine Jean-Pierre Stumped On Her First Day When Peter Doocy Asks How Raising Corporate Taxes Lowers Inflation

The new White House press sec. Karine Jean-Pierre appeared to dodge a question from Fox News’ Peter Doocy about a tweet from President Joe Biden regarding inflation.

“Karine, congratulations, it’s nice to see you up there,” Doocy began. “The president’s Twitter account posted the other day if you wanna bring down inflation, let’s make sure the wealthiest corporations pay their fair share. How does raising taxes on corporations reduce inflation?”

“Um, so, are you talking about a specific tweet?” Jean-Pierre, who appeared stumped, asked.

Doocy then referenced a May 13 tweet from Biden that said “you want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.”

“Look, we have talked about, um, we have talked about this past year, about making sure that the wealthiest among us are paying their fair share, and that is important to do. That is something the president has been working on everyday when we talk about inflation and lowering costs, so it’s very important that as we’re seeing costs rise, as we’re talking about how to, you know, build an America that’s equal for everyone and doesn’t leave anyone behind, that is an important part of that as well,” Jean-Pierre said.

“But how does raising taxes on corporations lower the cost of gas, the cost of a used car, the cost of food for everyday Americans?” Doocy pressed.

“So I think we encourage those who have done very well, especially those who care about climate change, to support a fairer tax code that doesn’t charge manufacturers workers, cops, builders a higher percentage of their earnings, that the most fortunate people in our nation, and not let that stand in the way of reducing energy costs and fighting an existential problem if you think about it, that is an example. To support basic collective bargaining rights as well.”

“But look, by not, without, having a fairer tax code, which is what I’m talking about, then all, like, manufacture workers, cops, you know, it’s not fair for them to have to pay higher taxes than the folks who are not paying taxes at all,” she continued.

“But what does that have to do with inflation?” Doocy asked. “The President said if you wanna bring down inflation let’s make sure the wealthiest corporations pay their fair share. Jeff Bezos came out and tweeted about that, he said ‘the newly created disinformation board should review this tweet.’ Would you be okay with that?”

“Look, it’s not a huge mystery why one of the wealthiest individuals on earth, right, opposes an economic agenda that is for the middle class, that cuts some of the biggest costs families face, fights inflation for the long haul, right, and that’s what we’re talking about, that’s why we’re talking about lowering inflation here, and adds to the historic deficit reduction the president is achieving by asking the richest taxpayers and corporations to pay their fair share. That’s what we’re talking about,” Jean-Pierre said.

Amazon founder Jeff Bezos criticized the aforementioned tweet, arguing that “misdirection doesn’t help the country.”

“The administration tried hard to inject even more stimulus into an already over-heated, inflationary economy and only Manchin saved them from themselves. Inflation is a regressive tax that most hurts the least affluent.”

Inflation reached its quickest uptick since December 1981 after soaring 8.5% in March.

AUTHOR

BRIANNA LYMAN

Reporter. Follow Brianna on Twitter

RELATED ARTICLE: ‘That’s Not How You’re Going To Solve Inflation’: CNBC Host Calls Out Pete Buttigieg To His Face

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

California Admits that 65,000 Students in its Community Colleges Are Fake – Costing the State Millions

These fake students get financial aid. And the poor, beleaguered, abused American taxpayer foots the bill for all this graft, corruption and treachery. And no doubt these ‘fake students’ also voted for Biden and Newsome in their last respective elections too.

California Admits that 65,000 Students in its Community Colleges Are Fake – Costing the State Millions

By Joe Hoft, Gateway Pundit, May 7, 2022:

The state agrees that there are 65,000 cases of ghost students in the California community college system but some say there may be as many as 180,000 ghost students.  This is costing the colleges millions in lost dollars while preventing real students from receiving the education they desire.

Professor Kim Rich believes that there may be some classes with 50% of the students who are fake.

Fake bots are now signing up for California community colleges, seemingly to get financial aid dollars for her online courses. That is money that was lost and will never be repaid. A professor of criminal justice at Pierce College, Kim Rich said about a third of her class were fake students. She said some classes had 5% fake students, others 10%, and some had 50%. It’s costing millions of dollars. Rich discovered students were submitting plagiarized work and that led her to search for the students via google. That’s when she discovered they were fake students.

CEO and founder of OpentheBooks.com, Adam Andrzejewski, was on a local news program where he discussed the situation in California.

Once you’re enrolled you’re eligible for federal and state student aid…They’ve [the colleges] have known about this for at least a year and have moved too slow for too long.
Some students have the names of Barack Obama and Donald Trump.  These fraudsters are costing the state and country millions.

EDITORS NOTE: This Geller Report column is republished with permission. ©All rights reserved. Follow Pamela Geller on Trump’s social media platform, Truth Social.

The VA Bought 10,000 Smartphones during the Pandemic. 85% Were Never Used

 

There’s a right way and a wrong way to help homeless veterans.


The US Department of Veterans Affairs wasted $1.8 million in data plan costs for unused phones, according to an inspector general’s report released on Wednesday. The Veterans Health Administration had spent $7 million to purchase 10,000 phones with unlimited prepaid calling plans for homeless veterans, but 85% of the phones went unused. The report also found that $571,000 was wasted on data plans for iPads sitting in storage due to poor oversight.

“The smartphones and iPads were purchased as part of the efforts to increase homeless veterans’ access to telehealth,” the Associate Press explains. “The veterans were enrolled in a Department of Housing and Urban Development VA Supportive housing program.”

The report called for the VA to “establish a realistic goal for days in storage along with a process for closely monitoring days in storage for each data plan provider and taking corrective actions when the goal is not being met.” It also called on the VA to create a process that starts the data plan charges only after the device has been issued to a veteran.

Regrettably, government waste and mismanagement like this is nothing new. From $2 million bathrooms to $400,000 camel statues, governments have managed to throw mad amounts of money down the drain over the years. In fact, government waste is so common that Senator Rand Paul prepares an annual “Festivus” report detailing the most egregious examples of wasted resources from the year.

But while government waste is nothing new, what’s intriguing about this particular case is the reason that was given for the problem.

“The inspector general concluded that Veterans Health Administration officials…made a good faith effort to help veterans get smartphones,” the Associated Press notes. “But they found there was a ‘lack of information for officials to be able to determine the quantity needed for the targeted veteran population.’”

If this assessment sounds familiar, well, it should. As the Nobel-prize-winning economist F. A. Hayek famously asserted, the “lack of information” possessed by government bureaucrats regarding the “quantity needed” of various resources is in fact the key problem with central planning. Waste is inevitable in these systems precisely because they can never accumulate, let alone manage, the knowledge that is required for determining the best allocation of resources.

Hayek spells out the knowledge problem in his famous essay, The Use of Knowledge in Society.

“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The economic problem of society is thus not merely a problem of how to allocate “given” resources—if “given” is taken to mean given to a single mind which deliberately solves the problem set by these “data.” It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only these individuals know. Or, to put it briefly, it is a problem of the utilization of knowledge which is not given to anyone in its totality.”

The solution to this problem, says Hayek, is decentralization and market prices. With market prices, we can learn what people find valuable and direct production to those ends. But without market prices, we are “groping in the dark,” as Mises says. This is why Veterans Affairs wasted over a million dollars on these data plans. They had no way of knowing the demand for these phones, so they ended up buying way more than were needed.

Of course, none of this is to say we shouldn’t help homeless veterans. The question here is what’s the most effective way to help them. The government approach, or the market approach?

The government approach, as this story illustrates, is to assume that we know what homeless veterans need, buy a bunch of it, and then realize that we actually misjudged the need and wasted a bunch of money.

The market approach, on the other hand, begins with the assumption that we don’t know what’s best for other people or what their specific needs are. Following from that, we realize that it makes little sense to have central planners spending money on their behalf. Thus, rather than trying to guess what they need, we focus our efforts on getting out of their way. We get rid of minimum wage laws and occupational licensing requirements that might be keeping them out of jobs. We cut taxes so they can save money, and we tear down crony regulations that make everyday goods more expensive than they need to be. In other words, we let the market work.

To be sure, the market approach is radically different from what we’ve been doing. But given how things have turned out, perhaps radically different is exactly what we need.

This article was adapted from an issue of the FEE Daily email newsletter. Click here to sign up and get free-market news and analysis like this in your inbox every weekday.

AUTHOR

Patrick Carroll

Patrick Carroll has a degree in Chemical Engineering from the University of Waterloo and is an Editorial Fellow at the Foundation for Economic Education.

EDITORS NOTE: This FEE column is republished with permission. ©All rights reserved.

VIDEO REPORT: Afghan Refugees Given $400,000 To Purchase Houses In Florida As Americans Go Homeless

The published this video report on relocating Afghan refugees.

On September 7th, 2021 USA Today in an article titled, “White House asks Congress for billions in emergency funds for Afghan resettlementJoey Garrison reported:

WASHINGTON — The White House is seeking billions in emergency funds this month from Congress to help resettle tens of thousands of Afghan immigrants into the U.S.

In a spending request Tuesday outlining “urgent needs,” President Joe Biden’s administration asked Congress to authorize $6.4 billion for Afghan resettlement efforts one week after the U.S. ended its military effort in Afghanistan. The U.S. is currently working to resettle Afghan allies evacuated from the war-torn country.

White House officials also requested “at least $10 billion” for recovery efforts from Hurricane Ida, and an additional $14 billion for other recent natural disasters – including Hurricanes Laura and Delta from last year.

Shalanda Young, acting director of the Office of Management and Budget, made the budget request Tuesday, less than four weeks before the current 2021 fiscal year ends Sept. 30. Together the requests total more than $30 billion.

[ … ]

The funding for Afghan refugees would support U.S. resettlement operations overseas and plans for as many as 65,000 vulnerable Afghans to arrive in the U.S. by the end of his month, according to the White House, and up to 30,000 additional Afghans over the next year.

Read the full article.

On September 16th, 2021 Nexstar Media Wire in an article titled “Florida to receive over 1,000 Afghan refugees in coming weeks, report says” reported:

The Biden administration began notifying governors and state refugee coordinators across the country about how many Afghan evacuees from among the first group of nearly 37,000 arrivals are slated to be resettled in their states.

California is projected to take more arrivals than any other — more than 5,200 people, according to State Department data for the Afghan Placement and Assistance program obtained by The Associated Press.

Alabama and Mississippi are each slated to welcome 10, U.S. officials said Wednesday. Hawaii, South Dakota, West Virginia, Wyoming and the District of Columbia are not expected to resettle anyone from the first group of evacuees who fled during the final days of the chaotic U.S. withdrawal last month.

Read the full article.

©Dr. Rich Swier. All rights reserved.

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The True Cost of Government ‘Pay More, Get Less’

Americans for Prosperity has release a video and a free eBook titled The True Cost of Government – Pay More, Get Less.

Watch this short video on the True Cost of Government:

The True Cost of Government – Pay More, Get Less asks:

Do you feel your paycheck isn’t going as far as it used to?

That when you go to the grocery store, you’ve noticed your bill is higher, but there are fewer and fewer items in your cart with every trip? (Perhaps you’ve even taken items out while waiting in line at the checkout counter.)

And that when you pull into the gas station, you decide more often that maybe you can stretch it before you need a full tank?

You’re not crazy. 62 percent of Americans think their family’s income is falling behind, and 83 percent of voters say they’re experiencing hardship due to increased prices.

According to the Bureau of Labor Statistics, real wages are down 2.6 percent in the last year.

On top of that, inflation is costing the average American household $430 per month — essentially an additional tax of $5,200 this year

Here are Americans for Prosperity‘s solutions to the ongoing problem of we the people paying our federal, state and local governments more and getting less.

But there’s a better way. We can reimagine how to make life more affordable for everyday Americans.

It’s possible if we:

  • Unleash energy abundance
  • Cut red tape that keeps prices high
  • Stop restricting housing supply
  • Beat inflation through better budgeting
  • Fuel the flexible workforce of tomorrow
  • Tackle rising costs through trade

©Dr. Rich Swier. All rights reserved.

Watch: Joe Biden Mocks Americans, Laughs at Rampant Inflation at White House Correspondents Dinner

This is the POTUS for the middle class. Laughing about everyday Americans who are struggling to make ends meet because of his policies. Watch below.

Watch: Joe Biden Laughs at Rampant Inflation at White House Correspondents Dinner

By The Paradise.NG, May 3, 2022

While Americans are suffering due to the Biden administration’s incompetent policies, which have fueled higher gas prices, food prices, and threaten to suck the nation into a European war, the president was yucking it up at their expense on Saturday night.

Daily Show host Trevor Noah, who calls himself a comedian, was the host of the White House Correspondents Dinner on Saturday night. At one point, he made an inflation joke that caused Biden to guffaw.

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EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

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College debt belongs to those who signed for it!

Mentally challenged usurper “Sniffer” Joe Biden renewed his desire to cancel college debt for those who took it upon themselves to take the money, by up to $10,000! Libtards and no good commie members of the New Socialist Democrat Party have been calling out for $50,000 to be forgiven.

Let me give you the pure and unadulterated truth as far as I see and understand it. I will try make it simple incase any democrats who voted for Biden read this as if it’s not simple they will not comprehend – yes, even those with college degrees!

Firstly let me clearly state that a college degree is not a right. Not as an American or anyone else. It is also my right to not have to pay for or subsidize someone’s college education. I understand certain professions need a degree but how many graduates have degrees in fields they never use? How many graduates are on unemployment? How many of those are on unemployment because they cannot get a job in the useless field they chose?

These young adults and their parents chose to take on a loan. That comes with a commitment to pay it back on the terms they agreed to. Just like any other loan.

Why do they not go to community colleges? Or trade schools? Most of the worlds very successful entrepreneurs were drop outs or did not go to college. Richard Branson, head of Virgin, is a prime example.

NOTE: 55 of the world’s billionaires dropped out of or did not go to university/college.

I look at myself. I have a South African high school diploma. I have travelled the world, held many jobs, run highly successful large companies, earning good money all my life and supporting my family. My daughter did not go to college but through great work ethic and determination earns 6 figures and is a senior executive in a large company.

Now, as this administration filled with thieves, traitors, criminals, fraudsters and other evil beings sees their demise in the mid term elections, they have resurrected this vote catcher to possibly forgive $10,000 of college debt. This is on top of students not having to have made payments seemingly for ever due to the China Virus debacle.

There is a real cost to America to forgive $10,000 of this debt to all students. Those loans are federally backed. All of them. The total it would cost us is $321 Billion. This is per an analysis by the Federal Reserve Bank of New York. That would benefit about 11.8 million borrowers, or roughly 31.1%, and cancel 30.5% of loans delinquent or in default prior to pandemic forbearance. Looking at it another way as of December 2021, the outstanding balance for federally owned college loans was $1.38 trillion. Our national debt stands at $30 Trillion.

Democrat lawmakers are clamoring for Biden to take executive action and cancel $50,000 of debt. So multiply the figures above by 5. Our national deficit totaled a record $2.8 Trillion for fiscal year ending 2021. How many of the students getting loan help don’t actually need it? How many come from rich families? $192 Billion of it would go to families in the top 20% of wealth. $29 Billion to those in the lower 20% of wealth.

About 1 in 6 American adults owe money to college loans. This is now the second largest amount of loan value after mortgages.

Reducing or eradicating college loans is also unfair to those that kept their word and paid back the money as they agreed to. Should they get a $10,000 check too? Of course not.

As Biden sees his polling numbers tank he is desperately looking to bribe voters.

Putting all this money back into an already boiling, sky high inflation economy, will only increase inflation thereby further hurting everyone other than the uber rich.

Suck it up buttercups! You wanted to go party for 4 or more years instead of working. Pay the piper. Stop looking for handouts. Stop all this socialist thinking and reliance on big government. They will run out of tax payers money sometime!

©Fred Brownbill. All rights reserved.

U.S. Economy Shrank 1.4% Marking Worst Quarter in 2-Years

How do President Trump’s tweets look now, America? Under President Trump the American economy was booming in all sectors. It was the envy of the world. Today, under the Biden Administration socialist economic policies, America’s economy is shrinking, and Wall Street is warning of a recession. Once again, the Biden Administration is a dangerous joke.

‘Biden economics.’ The economy should be exploding post COVID lockdowns. It takes serious enemy action (Democrats) to take down the economic engine of America.

“The U.S. economy cooled markedly in the first three months of the year, as snarled supply chains, record-high inflation and labor shortages weighed on growth and slowed the pandemic recovery.”

Americans’ confidence in the economy remains very low, and mentions of economic issues as the most important problem in the U.S. are at their highest point since 2016. Inflation, which registered as the top economic problem last month and continues to be, was previously at this level in 1984 (Gallup). Breitbart: On the eve of the election of Donald Trump in 2016, 31 percent of Americans named an economic issue as the most important facing the country. That number steadily fell throughout the Trump administration, eventually surpassing the previous record low of 13 percent set in 1999 (Breitbart).

US economy shrank 1.4% at beginning of 2022, marking worst quarter in 2 years

By Fox News, April 28, 2022

Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 1.4% on an annualized basis in the three-month period from January through March, the Commerce Department said in its first reading of the data on Thursday.

Refinitiv economists expected the report to show the economy had expanded by 1.1%.

RELATED ARTICLE: Biden: “Basically, We’re Out Of Money” But Vows Another $33 Billion More For Ukraine

EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

Quick note: We cannot do this without your support. Fact. Our work is made possible by you and only you. We receive no grants, government handouts, or major funding.

Tech giants are shutting us down. You know this. Twitter, LinkedIn, Google Adsense, Pinterest permanently banned us. Facebook, Google search et al have shadow-banned, suspended and deleted us from your news feeds. They are disappearing us. But we are here.

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Remember, YOU make the work possible. If you can, please contribute to Geller Report.

Washington state Congressional candidate wants $30 an hour minimum wage

Why not $60? Or $100? Or $1,000,000? Make everyone a millionaire, and all our economic troubles will be over, right? Rebecca Parson, and there are many others who think like this “patriotic, Catholic, and queer” candidate, lacks a basic understanding of economics. If you force businesses to pay more in wages, they’ll cut expenses in other ways, often by reducing the number of people employed. So minimum wage hikes often lead to increased unemployment. And when producers know that everyone has that kind of money, they raise prices in order to try to make back some of what they’re paying in increased wages. Minimum wage hikes thus often lead to inflation. They thus more likely increase misery than alleviate it.

$30 An Hour Minimum Wage? This Democratic Candidate Says Yes

by Dillon Burroughs, Daily Wire, April 25, 2022:

A Democratic congressional candidate in Washington State is arguing for a $30 per hour minimum wage, claiming that the $15 minimum wage movement is an outdated number.

Rebecca Parson, a candidate for Washington’s 6th District that includes Tacoma, shared the comment recently in a post on Twitter.

“$15 minimum wage is an antiquated demand. It should be $30 per hour,” she tweeted.

“1 adult supporting 1 kid needs $30 an hour across the country. Rural, urban, suburban: $30 is the floor. As you say your nightly prayers to Saint Elon while you fall asleep tonight, reflect on why you punch down on poor people instead of up at your heavenly billionaire,” she added in another post.

In her campaign video, Parson said, “I and other organizers have occupied empty buildings, demanding housing for our homeless neighbors. I risked arrest because we can’t just wait for the corporate establishment to help.”

Parson also claimed in her video that she will emulate “Congresswoman Cori Bush,” a “Squad” member and progressive Democrat who slept outside in Washington, D.C., to advocate for housing. Parson claims she can identify with the need, as she’s “been homeless, too,” despite holding a master’s degree from Johns Hopkins.

AUTHOR

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Governor Ron DeSantis, ‘Florida is going to hold Twitter’s board of directors accountable for breaching its fiduciary duties’

Bloomberg’s reported:

Florida Governor Ron DeSantis said the state could take action against Twitter Inc. for launching a poison pill defense to thwart an unsolicited bid by Elon Musk.

“Why would you reject the 20% premium?” DeSantis said Tuesday at a press conference, accusing the company of censorship. “I don’t think that was a rejection based on financial concerns or business judgment. They rejected it because they know they can’t control Elon Musk. They know that he will not accept the narrative.”

Read more.

Watch Governor DeSantis explain how the Sunshine state will hold Titter’s Board of Directors accountable:

The Governor has a fiduciary responsibility to insure that Florida’s pension fund, and the companies the pension fun has invested in, increase the value of their stock to keep the fund solvent. Twitter’s stock has not performed well and dropped 10% on April 20th, 2022.

Twitter Financials

Quarterly financials
(USD) Dec 2021 Y/Y
Revenue 1.57B
Net income 181.69M
Diluted EPS 0.21
Net profit margin 11.59%

©Dr. Rich Swier. All rights reserved.

RELATED ARTICLE: DeSantis and Musk Team Up With A New Strategy After Twitter Board Commits Corporate Suicide

Top Biden Pollster Warns ‘Most Americans Are Pissed’

Top Biden Pollster Warns ‘Most Americans Are Pissed,’ Says Democrats Are Facing ‘Really Sour Environment’


President Joe Biden’s chief pollster John Anzalone warned Democrats about major electoral problems going into the 2022 midterms in an interview released Friday, although he believes that they can still avoid major losses.

Anzalone, who also worked on Hillary Clinton’s 2016 presidential campaign, has previously warned of Biden’s low approval rating overall and among Hispanic voters in particular. He told Politico’s Ryan Lizza that voters are unhappy with the Democrats’ lack of action on key issues such as inflation and health care.

“Voters are very much in ‘What have you done for me lately?’ They always are. And they don’t feel Democrats can get their shit together and get things done,” Anzalone said.

“So if we’re able to do something — a skinny BBB or whatever — on health insurance costs, prescription drug costs, elderly care, childcare, that’s a big deal because it will give Democrats a competitive advantage on what they’re doing for working families. And it’ll cut through the inflation narrative, the Ukraine narrative, the Afghan narrative, the border narrative, etc.,” he continued.

Anzalone also pushed back on the perception that Hispanic voters primarily care about immigration.

“There’s this narrative in D.C. among Democrats that you only talk to Latinos about immigration. Like, immigration is the twelfth issue that they’re concerned about. It’s always about the economy or inflation or healthcare or schools,” he said.

Republicans are pinpointing a July special election in South Texas as a test of their newfound gains among Hispanic voters. Republican Mayra Flores, who will also seek a full term in November, is hoping that concerns about immigration and inflation will be decisive in flipping a seat formerly held by Democrat Filemon Vela.

Anzalone also argued that Democrats should push tax increases on wealthier Americans, adding that Democrats are too “scared of their own shadow” to do so.

“Biden’s proposal of making those making over $400,000 pay a little bit more taxes and big corporations pay a little bit more taxes so they pay their fair share to make investments in healthcare and education and childcare is really important,” he claimed. “Most Americans are pissed at the fact that they pay their fair share in taxes as middle-class people. They work hard. They want to see the benefits of the economy.”

Election forecasters believe that Republicans could pick up as many as 35 seats in the midterms, which would create the party’s largest majority since the Great Depression. Anzalone believes that such losses could be in the cards for Democrats if they do not act quickly.

“No one’s going to sit there as a Democratic consultant and try to bullshit you that this is anything but a really sour environment for Democrats,” he said.

AUTHOR

MICHAEL GINSBERG

Congressional reporter.

RELATED ARTICLE: Are Latinos Really Abandoning Dems? Poll Analysis Gives New Insight

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

These 5 States Will Have Highest Tax Burdens in 2022, New Analysis Reveals

Don’t be surprised if the states topping this new list start losing people to states that don’t take as much of their money.


ax season is in full swing, and many Americans are likely grimacing as they crunch the numbers and prepare to open up their wallets. But some more so than others, as the relative tax burden in the US varies vastly across different states. And now, a new analysis reveals which states will have the highest (and lowest) taxes in 2022.

The right-leaning, nonpartisan Tax Foundation just ran the numbers to rank the states based on their average combined state and local tax burden. This does not include the many federal taxes all Americans must pay regardless of state residency.

Here’s what analysts Erica York and Jared Walczak found:

  1. New York: 15.9 percent
  2. Connecticut: 15.4 percent
  3. Hawaii: 14.1 percent
  4. Vermont: 13.6 percent
  5. California: 13.5 percent
  1. Alaska: 4.6 percent
  2. Wyoming: 7.5 percent
  3. Tennessee: 7.6 percent
  4. South Dakota: 8.4 percent
  5. Michigan: 8.6 percent

This ranking does not look solely at the absolute amount received in taxes by state and local governments. It also attempts to account for the true burden of taxes, given that sometimes the real cost of a state tax can be imposed on residents of other states. (For example, people who live in New Jersey but work in New York City also pay many New York taxes).

These differences in taxation levels are more than just a pleasant surprise for taxpayers in some states (and an ugly reality for taxpayers in others). With combined state and local tax burdens varying between nearly 16 percent in New York and just 4.6 percent in Alaska, there’s a big enough difference between the states to encourage tax competition.

What is tax competition?

It’s when “jurisdictional competition leads to better tax policy,” economist Dan Mitchell explains. “Simply stated, politicians are less greedy when they have to worry that the geese with the golden eggs can fly away.”

Americans can (and do) relocate when their local and state governments excessively raise taxes. This means states must always be on the watch against losing residents to lower-tax neighbors, a positive incentive structure that helps keep the growth of government in check and protect our wallets from greedy politicians.

So, don’t be surprised if the states topping this new list of high tax burdens start losing people to states that don’t take as much of their money.

AUTHOR

Brad Polumbo

Brad Polumbo (@Brad_Polumbo) is a libertarian-conservative journalist and Policy Correspondent at the Foundation for Economic Education.

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Inflation Under Biden Reaches Staggering New Heights

  • The federal government’s latest inflation indicator showed that consumer prices skyrocketed 8.5% in March, the quickest uptick in four decades.
  • “We’re seeing strong inflation momentum across the board, both for goods and services,” Blerina Uruci, a U.S. economist at T. Rowe Price Group, told The Wall Street Journal.
  • “This is a direct result of Biden’s Federal Reserve being too preoccupied with ‘diversity,’ ‘equity,’ and ‘climate change’ while ignoring all the warning signs on inflation for more than a year,” said E.J. Antoni, a research fellow at The Heritage Foundation’s Center for Data Analysis.

A key consumer price metric used by the government to measure inflation soared 8.5% over the last 12 months — the fastest pace of inflation since December 1981 — the Department of Labor (DOL) announced Tuesday.

The Consumer Price Index (CPI) increased 1.2% between February and March, the fastest month-over-month figure since 2005, according to the Labor Department report released Tuesday morning. Economists surveyed by the Dow Jones projected that CPI would increase 1.1% last month and 8.4% over the 12-month period ending in March, CNBC reported.

“We’re seeing strong inflation momentum across the board, both for goods and services,” Blerina Uruci, a U.S. economist at T. Rowe Price Group, told The Wall Street Journal.

The White House warned Monday that the CPI figures would be “extraordinarily elevated” ahead of the report, but blamed Russian President Vladimir Putin. Gasoline prices hit record highs in March after Russia’s invasion of Ukraine which disrupted global energy markets dominated by Russian supplies.

“Because of the actions we’ve taken to address Putin — the Putin price hike, we are in a better place than we were last month,” White House press secretary Jen Psaki told reporters at a press briefing. “But we expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike.”

“We expect a large difference between core and headline inflation, reflecting the global disruptions in energy and food markets,” she added.

But core CPI, which measures prices of all goods excluding the historically-volatile energy and food categories, still rose 6.5% between April 2021 and March, the DOL said. While lower than the headline figure, the core inflation number reported Tuesday still represented its largest jump since August 1982.

Inflation has surged over the past several months: CPI surpassed the Federal Reserve’s 2% benchmark in May 2021 and has since precipitously climbed higher, according to federal data. Inflation increased a whopping 7.5% and 7.9% in January and February respectively, before Putin ever ordered troops to assault Ukraine.

Prices for new and used vehicles, rent, medical care, commodities and transportation costs like airline fares have all skyrocketed over the past year, the Tuesday report showed.

“As expected, inflation soared in March,” Joel Naroff, the chief economist of the Pennsylvania-based economic consulting firm Naroff Economics, told the Daily Caller News Foundation. “But it wasn’t just energy, which continued to spike as a consequence of Russia’s invasion of Ukraine. Food, clothing, medical care and transportation were all up sharply as well.”

While recent jobs reports have shown strong growth, Americans are more concerned about inflation when it comes to the economy, according to a CBS News poll released Monday. Just 31% of those surveyed said they approved of President Joe Biden’s handling of inflation.

Small business owners listed inflation as the biggest issue facing them, a survey released Tuesday by the National Federation of Independent Business showed.

Critics, meanwhile, have accused the Federal Reserve of failing to properly act as prices have shot up across sectors over the last 12 months. Fed officials have turned their focus too much toward social justice issues instead of monetary policy, a recent Independent Institute report concluded.

“This is a direct result of Biden’s Federal Reserve being too preoccupied with ‘diversity,’ ‘equity,’ and ‘climate change’ while ignoring all the warning signs on inflation for more than a year,” E.J. Antoni, a research fellow at The Heritage Foundation’s Center for Data Analysis, told the DCNF. “The Fed is laughably behind the curve and people are demonstrably poorer because of it.”

Prior to the report Tuesday, Antoni predicted the 12-month figure to reach 8.3% and the month-over-month number to surpass 1.0%. He added that, under his projections, real wages would be down over 4.0% since Biden took office in January 2021.

Republicans on the Senate Banking Committee have repeatedly slammed the Federal Reserve for its persistent push to address climate change in recent months. The lawmakers said the Fed is increasingly focusing on areas outside of its congressional mandate.

AUTHOR

THOMAS CATENACCI

Energy and environment reporter. Follow Thomas on Twitter

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EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved. Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org.

‘Inflation Tax’ Will Cost Families This Many Thousands This Year, Bloomberg Analysis Warns

There goes $433 a month from your family’s budget…


Another day, another alarming inflation metric. We just got the numbers for the Personal Consumption Expenditures index (PCE), the Federal Reserve’s favored inflation metric, and they’re jaw-dropping. The PCE hit a 40-year high in February, with the measured prices rising 6.4% year-over-year.

What does this mean in real life?

A new Bloomberg analysis sheds some light on this key question. It finds that this year, inflation will cost the typical US household an additional $5,200 just to afford the same goods as last year. That’s $433 a month taken out of the average family’s budget.

Why is this happening?

Inflation is a Policy Choice

In the mainstream media and among progressive economists, price inflation is often portrayed as an abstract force beyond our control, like the weather. But in reality, it is directly caused by reckless government policies.

The Federal Reserve decided to “stimulate” the economy amid the pandemic by (digitally) printing trillions of new dollars out of thin air. But scarcity and trade-offs are the defining reality of economic life, so their actions had consequences. By putting trillions of new dollars out into the economy, they made the dollars Americans currently held less valuable—inflating away our savings and wealth.

Just consider the below graph, which shows the number of US dollars in circulation over the last 5 years:

CLICK HERE TO VIEW THE GRAPH

What’s more, the federal government flooded the economy with “stimulus” money.

It ran up massive, multi-trillion-dollar budget deficits—at the very time various levels of government were restricting economic life and constraining supply. Through trillions in debt, Congress signed us up for grave economic costs in the future in order to artificially inflate consumer demand in the short term, which doesn’t work as “stimulus” to begin with.

Yet when you do this at the very same time you are constraining the economy and hindering the supply chain, it’s inevitable that price levels overall will surge as demand so far outpaces supply.

So, no, inflation isn’t an abstract phenomenon. But it is, essentially, an indirect tax on everyday Americans.

Inflation is a ‘Stealth Tax’

What is a tax, after all, other than a cost forcibly imposed on the citizenry to finance/enable government expenditures? And that also perfectly describes the inflation currently hitting Americans in the wallet.

The government wanted to engage in reckless money-printing and spending without bearing the political brunt of directly raising peoples’ taxes. As a result, our savings were inflated away.

That’s the textbook definition of a “stealth tax.”

Even John Maynard Keynes, hardly a free-market economist, famously acknowledged this reality.

“By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens,” Keynes once said.

Keynes found agreement on this point from across the spectrum. Nobel-Prize-winning free-market economist Milton Friedman similarly quipped that “inflation is taxation without legislation.”

Ultimately, Americans shouldn’t fall for this financial sleight-of-hand.

“Inflation” isn’t really what will cost families $5,200 extra this year. The government is what’s truly imposing that burden upon us all.

AUTHOR

Brad Polumbo

Brad Polumbo (@Brad_Polumbo) is a libertarian-conservative journalist and Policy Correspondent at the Foundation for Economic Education.

RELATED ARTICLE: 54% of Hispanics Disapprove of Biden – Early Indicator of the Freight Train Coming for Dems

EDITORS NOTE: This FEE column is republished with permission. ©All rights reserved.

California Democrats To Cut Gas Tax For 3rd Time, Raise Taxes Instead

The brutalist party HATES you.

They actually raised taxes on gas suppliers to use as rebates (Fox 40). From Republican Vince Fong:

California Bill to Cut Gas Tax Fails 3rd Time

By Vanessa Serna, The Epoch Times, March 29, 2022:

SACRAMENTO—The effort to temporarily halt California’s 51-cent gas tax failed for a third time in a state assembly committee as lawmakers instead proposed changing the bill completely by adding a new tax on fuel suppliers to feed a rebate program for gas consumers.

Assembly Bill 1638 by Assemblyman Kevin Kiley (R-Rocklin) was accepted to be heard on a last-minute basis by the state Transportation Committee on March 28, after being shut down by lawmakers on March 14 and March 24.

Assemblyman Alex Lee (D-San Jose) opposed Kiley’s bill while blaming the high gas tax on fossil fuel corporations—such as Chevron and Vallero—which he said pocketed billions in a record profit last year.

“I definitely sympathize and I understand how hard it is right now, and how hard it is at the pump,” he said. It’s not because we are paying for roads. It’s because there are corporations out there who are fracking the hell out of this planet.”

Lee further highlighted the funds from the gas tax that go towards fixing roads while claiming the surplus can not ensure these projects continue to proceed if the gas tax is suspended.

“If we are to find ourselves in [an] economic deficit, the money that goes directly to constituents and roadways and transportation can evaporate,” he said.

Rather than simply voting on AB 1638, Lee decided to strike out all current contents of the bill and fill in multiple amendments, including taxing fuel suppliers more to offset their “windfall profit” and turning that tax revenue into gas rebates for consumers.

At this point, it is still unclear whether Lee’s “vehicle fuel windfall profit tax” would affect the gas prices at the pump for consumers and how the proposed rebate program would look.

While Lee urged for his amendments to be made, he refused to add his name as an author to the bill.

Assemblyman Vince Fong (R-Bakersfield) opposed Lee’s amendments, questioning the motion that would raise taxes on residents rather than providing relief.

“A bill to temporarily suspend the state’s tax for six months [and] provide immediate relief to Californians is being hijacked … to raise taxes even more,” Fong said.

Assemblywoman Janet Nguyen (R-Huntington Beach) echoed her disappointment in Lee’s decision to drastically attempt to amend the bill rather than simply vote no.

“Why are we just being silent and prolonging this pain for all these families?” Nguyen forcefully questioned. “Putting more taxes on Californians is the wrong thing to do.”

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