Some congressional Democrats are reportedly looking to double-down on inflation by spending up to an additional $300 per family to ostensibly reduce the American people’s gas-price woes.
The so-called gas stimulus, as it’s being called, would “provide middle-class Americans with monthly payments to ease the financial burden of this global crisis,” according to a statement from California Rep. Mike Thompson, one of three Democrats pushing the idea.
The other two Democrats are Reps. Lauren Underwood and John Larson.
If signed into law, their bill would grant each eligible American $100, in addition to $100 per dependent, each month, reportedly up to a maximum of $300, up until gas prices fall below $4 per gallon.
Right now, families across the country are feeling the financial burden of Putin’s price hike.
That’s why I introduced the Gas Rebate Act to send $100 monthly to all Americans (and their dependents) making less than 75k.
— Rep. Mike Thompson (@RepThompson) March 17, 2022
This bill will provide $100 payments to middle-class Americans every month that the average cost of gas nationwide is over $4. These payments will help families cover the costs at the pump as long as the illegal invasion continues to elevate prices.
— Rep. Mike Thompson (@RepThompson) March 17, 2022
“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’s statement, published last week, continued.
Notice how he sought to blame current gas prices on Russian President Vladimir Putin instead of the party and leader that most experts say bears the brunt of the blame: the Biden administration.
Criticism is already mounting against the bill, with members of the public claiming it’ll just worsen inflation and thus further exacerbate the crisis:
How do you stop inflation… by printing more money of course. The first 7 trillion didn’t fix it, so we’ll just print more!
— SpaceNinja15 ®️ (@2Spaceninja15) March 24, 2022
Yeah…so, basically what you’re saying is…”let’s give the people the money you’re borrowing from our national debt into circulation, this fueling higher inflation. Does anyone in DC have at least two or more brain cells working?!
— FairnessForAll (@Fair4All2021) March 18, 2022
Great move! Print more cash and give it to people while that printing itself inflates the currency which raises gas prices. Brilliant move Joe!
— where did our freedom go? (@weusedtobefree) March 23, 2022
Really bad idea. Do they have anyone that understands Economics?
— Cachito Suarez (@Adrian_S29) March 23, 2022
Unplug the money printer, please.
— Veritas (@liberum_mortis) March 18, 2022
— Uncle Frodo! (@AlfredoxFL) March 24, 2022
Members of the public are reportedly correct.
Reason magazine notes that “handing out government money to thwart high gas prices is like—pardon the pun—pouring gasoline on a fire.”
Why? Because “[m]ore government spending means more inflation,” and “[m]ore consumers getting ‘free gas’ means more gas purchases and, again, more inflation.”
FYI, this is economics 101.
A better solution, according to Reason magazine, would be what Georgia and Maryland, two Republican-led states, are doing — “temporarily forgo[ing] their cut of gas sales so that people can pay less when filling up their tanks.”
Lawmakers in Illinois, Massachusetts, Maine, Michigan, Minnesota, New York and Tennessee are reportedly also considering this plan of action.
The worst solution appears to be that being offered by California, where Gov. Gavin Newsom has proposed doling out stimulus payments of $400 per vehicle up to a maximum of $800.
NEW: we’re proposing $11 BILLION in relief, including a $9 billion tax refund for rising gas prices.
– $400 per registered car
– 3 months of free public transitpic.twitter.com/XsAn0kuokP
— Gavin Newsom (@GavinNewsom) March 23, 2022
This solution is also being bashed, even more so than the solution offered by Thompson, Underwood, and Larson.
Fighting inflation with inflation…I’m not an economist but…
— Bitcoin-n-Books (@bitcoin_n_books) March 24, 2022
Let’s talk about who it benefits to give $800 to a high-income person who owns two cars, and $0 to a low-income person who walks and rides the bus.
— Lian Chikako 🇺🇦 (@LianChikako) March 23, 2022
print print print… devalue the dollar and make inflation worse… lol California is run by idiots.
— Tippy (@johnp56287643) March 24, 2022
Let’s fix inflation caused by increases in spending by…checks notes…giving people more money to spend! Welcome to the policies of the early 70s all over again.
— Chris Nakutis Taylor – naktaylor.eth (@ChrisNakTaylor) March 24, 2022
Is everyone oblivious in california? I guess is in majority of the world. The problem of inflation is to much currency printing combined with stimulus and free stuff… At some point you’ll have to realise that things are just getting worse and worse
— Diogo (@Diogo23495381) March 24, 2022
Californians rn pic.twitter.com/R7VAMZQz2N
— 🌪 Figgy➐🌪 (@The_WxExpert) March 23, 2022
Note what one critic wrote about how “at some point, you’ll have to realize that things are just getting worse and worse” under Newsom’s far-left policies.
The fact is that California already boasts the highest gas prices in the nation. Yet the state’s far-left governor still enjoys a 48 percent plurality approval rate, according to a U.C. Berkeley Institute of Governmental Studies poll published in February, as reported at the time by Sacramento station KXTV.
To be fair, it’s slipped by 16 points since September of 2020. But it’s still been high enough for him to win his recall election last year and for him to potentially win his reelection bid come November …
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