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Thread: Americans Can't Afford President Biden's Green Obsession

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    Americans Can't Afford President Biden's Green Obsession

    The administration's green policies are already harming the economy. Expect it to continue. Get ready for it.

    Additionally raising the corporate tax rate will be a cost born by customers, not corporations.


    Americans Can't Afford President Biden's Green Obsession

    As if Biden’s push for green energy hasn’t hurt America enough with the cancellation of the Keystone XL Pipeline and rejoining the Paris Agreement on climate, it’s now fueling the rise in utility bills for hardworking Americans across the board. And his plan to hike taxes on corporate businesses will only make it worse.

    Electric rates are increasing across the country as utilities incorporate funds for green energy. In Florida, three separate utilities are asking for electric rate increases: Tampa Electric is asking for a whopping 18%; Florida Power & Light (FPL) is asking for a $2 billion increase; and Duke Energy Florida is asking for a 3-4% rise in 2022, and 1% more in 2023 and 2024.
    It isn’t just Florida residents who will be paying more in the near future. Michigan’s electric rates will jump 12%. New Mexico customers will see 9.2% bigger bills for the Sagamore wind project and its infrastructure. Dominion Energy in South Carolina is asking for 7.7% more and Louisville Gas and Electric is asking for 12%.
    It's only a question of time before everyone will be paying more for their power, natural gas, and gasoline at the pump.


    On top of these green-driven rate increases, Biden wants to also increase the corporate income tax, arguing companies will pay this and consumers will not.


    This is simply dead wrong.


    Americans enjoyed lower utility costs because of the corporate tax cut in 2017. There is a long list of utilities that passed their tax savings on to their customers or used the savings to offset planned rate increases.


    When businesses save money because of a lower tax burden and lower utility rates, it’s a double win, because the savings are often passed along to consumers used to offset increased costs elsewhere. When a business saves money in one area, they can lower prices, increase investments, pay off debt, increase profits, pay their employees more and hire new workers.
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    Here is a good example from the article. Your local grocery store:

    Everything goes up, not just utility bills. For instance, grocery stores are low margin businesses that make a profit of just 1 to 3%. They make their money from volume, after all everyone must eat. When a grocery store has to pay higher taxes and higher utility bills, (lights, refrigeration and freezer units, heat in winter and air conditioning in summer), they will pass these costs along to their customers.
    When truckers have higher costs, they will pass them on to their customers, the food makers and grocery stores. They in turn will pass these increased costs to consumers.


    When the food makers and grocery stores have to increase wages to a minimum of $15 dollars, they will also pass even more costs on to those that buy food.


    Low-income people spend more of their budgets on food and utilities than middle income and wealthy people. Increasing gas, electric and food prices hurt the poor the most.


    Single moms will then have to come up with more money to keep their families’ financial heads above water. That may mean a second or third job and more tough choices.
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    The sky is falling, the sky is falling, OMG deficits are back, deficits are back.... LOL you guys are so easily played it rather funny when not sad. Isn't it about time you took off your blinders. ( Below a site you should read)


    'Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years'

    https://www.propublica.org/article/national-debt-trump
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    I have been posting about the debt and the deficit since I became a member here.

    Quote Originally Posted by midcan5 View Post
    The sky is falling, the sky is falling, OMG deficits are back, deficits are back.... LOL you guys are so easily played it rather funny when not sad. Isn't it about time you took off your blinders. ( Below a site you should read)


    'Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years'

    https://www.propublica.org/article/national-debt-trump
    ΜOΛΩΝ ΛΑΒΕ


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    As sometimes happens, the OP of this thread sent me back to one of my 'go to' reference sources; A Beginner's Guide to Government. Aloysius Goldpen. Chelm Press, 2011, Gotham, GA.

    "There exists in modern democracies a group of citizens with excess, [that is, taxable,] money but not enough money to stay its extraction through the purchase of legislation or the rental of legislators. This group is the natural prey of politicians."

    The book, a limited edition, is presently out of print.

    Regards, stay safe 'n well.
    "And gladly wolde he lerne and gladly teche." Chaucer, the Canterbury Tales.

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    Quote Originally Posted by Torus34 View Post
    As sometimes happens, the OP of this thread sent me back to one of my 'go to' reference sources; A Beginner's Guide to Government. Aloysius Goldpen. Chelm Press, 2011, Gotham, GA.

    "There exists in modern democracies a group of citizens with excess, [that is, taxable,] money but not enough money to stay its extraction through the purchase of legislation or the rental of legislators. This group is the natural prey of politicians."

    The book, a limited edition, is presently out of print.

    Regards, stay safe 'n well.
    The middle class.
    ΜOΛΩΝ ΛΑΒΕ


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    Quote Originally Posted by Peter1469 View Post
    Here is a good example from the article. Your local grocery store:
    Peter, this thread caught my eye so I did a quick search and found an article that says what the Biden team proposes can and will work. I didn't read the entire article but what I did read makes sense.


    https://www.investopedia.com/joe-bid...-class-4769869
    God Bless America, God Bless our Military and God Bless the Police who defended the country against the insurgents on January 6, 2021

    Think 3rd party for 2024 folks. Clean up America.

    Once I tell you that we agree to disagree there will be no more discussion between us in the thread so please don't waste your time continuing to argue your points because I will not respond.

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    Quote Originally Posted by gamewell45 View Post
    Peter, this thread caught my eye so I did a quick search and found an article that says what the Biden team proposes can and will work. I didn't read the entire article but what I did read makes sense.


    https://www.investopedia.com/joe-bid...-class-4769869
    First, yes economists are going to be on both sides of these political issues.

    The article is a broad overview of the administration's plans. It doesn't go into detail. I will discuss two issues. Taxes and the Green New Deal.

    Taxes: The article asserts the tax plan will raise $4T in 10 years (never mind a new admin may change taxes well before that). You know my view of tax increases- they tend to shrink the economy and generate less revenue than predicted. Tax increases are not likely to grow the economy.

    GND and my hypo about increased energy (and increased corporate taxes) prices affecting prices for food to rise and hurt the poor and lower middle classes the most. Your article does not address that.
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    Quote Originally Posted by Peter1469 View Post
    The middle class.
    Precisely, dear Reader, precisely.

    Regards, stay safe 'n well.
    "And gladly wolde he lerne and gladly teche." Chaucer, the Canterbury Tales.

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    Quote Originally Posted by Peter1469 View Post
    First, yes economists are going to be on both sides of these political issues.

    The article is a broad overview of the administration's plans. It doesn't go into detail. I will discuss two issues. Taxes and the Green New Deal.

    Taxes: The article asserts the tax plan will raise $4T in 10 years (never mind a new admin may change taxes well before that). You know my view of tax increases- they tend to shrink the economy and generate less revenue than predicted. Tax increases are not likely to grow the economy.

    GND and my hypo about increased energy (and increased corporate taxes) prices affecting prices for food to rise and hurt the poor and lower middle classes the most. Your article does not address that.
    I must say your response regarding the tax issue is rather compelling. Thanks for your response.
    God Bless America, God Bless our Military and God Bless the Police who defended the country against the insurgents on January 6, 2021

    Think 3rd party for 2024 folks. Clean up America.

    Once I tell you that we agree to disagree there will be no more discussion between us in the thread so please don't waste your time continuing to argue your points because I will not respond.

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