Winter is Coming by Tom m Reynolds
“Winter is coming” was a much-used phrase from Game Of Thrones. It’s here, as I am sure you know – especially those of you in western NY.
Here’s something to warm your anger this winter. It is indirectly 2nd Amendment related (which I’ll explain at the end). You may be interested in some of the tax increases that will affect your heating bill and were included in the so-called “Inflation Reduction Act”. Think your household energy bills are high now? Just wait until these three major energy taxes hit your wallet.
The organization Americans for Tax Reform, (ATR) which opposes all tax hikes as a matter of principle, posted some interesting information.
On Jan. 1, 2023 the following tax hikes took effect:
$6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills
This is a tax on American oil and gas development’s methane emissions which will drive up the cost of household energy bills. The Congressional Budget Office estimates this natural gas tax will increase taxes by $6.5 billion.
A letter to Congress from the American Gas Association warned that the methane tax would amount to a 17% increase on an average family’s natural gas bill.
$12 Billion Crude Oil Tax Which Will Increase Household Costs
A 16.4 cents-per-barrel tax on crude oil and imported petroleum products will be passed on to consumers in the form of higher gas prices.
If that isn’t bad enough, it’s been pegged to inflation (and you know what that is doing.) As inflation increases, so will the tax. (Now you know why the Biden administration isn’t exactly “rabid” about fighting inflation by controlling expenses.)
The non-partisan Joint Committee on Taxation (JCT) estimates the provision will raise $12 billion in taxes.
$1.2 Billion Coal Tax Which Will Increase Household Energy Bills
This tax hike more than doubles the current excise taxes on coal production:
The tax rate on coal from subsurface mining would increase from $0.50 per ton to $1.10 per ton
The tax rate on coal from surface mining would increase from $0.25 per ton to $0.55 per ton.
JCT estimates that this will raise $1.2 billion in taxes that will be passed on to consumers in the form of higher electricity bills.
These taxes were included in the bill despite retail prices for energy hitting all-time highs in the United States.
The so-called Inflation Reduction Act does provide huge benefits to the renewable energy industry. Unfortunately, most of us don’t get our heat and electricity from renewable energy. Perhaps Biden and Congress are not aware that most of our electricity is currently generated by natural gas, oil and coal, the three things on which they are increasing taxes?
These tax hikes violate President Biden’s tax pledge not to raise taxes on any American making less than $400,000 per year. His administration has repeatedly echoed that “promise”.
On June 21 of last year, Biden’s Press Secretary Jen Psaki stated: “The President’s pledge was not to raise taxes on Americans making less than $400,000 a year.
On February 26 of last year, Biden’s Transportation Secretary Pete Buttigieg stated: “The President’s made a commitment that this administration will not raise taxes on people making less than $400,000 a year.”
Energy cost increases are a regressive tax that hits the lowest income sectors of the economy the hardest. You know…those making less than $400,000 per year.
We are passing this information on because it is almost invisible on the internet. Try searching the web for “Energy Taxes in the Inflation Reduction Act.” There are pages after pages of articles on the tax breaks for renewable energy. Tax increases…not so much.
No matter how you feel about the so-called Climate Change agenda, you deserve the full story of related costs and benefits. (I believe that is the purpose of one of those pesky amendments in the Bill of Rights.)
How does this tie into 2A gun rights? This is the same “closet censorship” we see on the 2nd Amendment and gun rights; for instance, try finding web articles on defensive use of guns.
When the only information you get omits very important facts, it’s easy to be misinformed. Most Americans and probably many gun owners don’t have the facts on defensive uses of guns. By a not so amazing coincidence, it is the same people doing the censoring on these tax increases that censor positive 2A articles.