Biden continues to claim that he will not tax anyone making less than $400,000. This has been a patently false claim for many of his proposals, policies and plans, not the least of which is his increase in corporate taxes which WILL be passed on to consumers through higher prices, employees through lower wages, investors (i.e. pension funds) through lower returns and everyone through a smaller economy.
Now his methane proposals will be more hidden taxes.
The sources of methane emissions in the US and the effect of Biden's proposals are shown in the chart.
Farm animal operations is the largest at 36% and his proposal has no specific target or plan to reduce these.
The second largest is related to oil and gas production which is 30%. His limits on pipelines, new natural gas leases, and fracking have already started to reduce the amount of oil and gas produced, increasing the price of fuels and, with his proposal to cut this by 75%, there will only be a greater increase in the cost and price of oil and gas, taxing all Americans.
Landfill emissions are the third largest source at 17%. His proposal is to capture 70% of these emissions, which will require significant capital investment and operating costs, increasing the costs of waste disposal affecting all Americans.
His methane proposals do not have any specific plans or targets for the remaining sources of other and coal, 10% and 7% respectively.
I am not claiming that there is not a future benefit in reducing methane emissions, though there is no clear evidence that the benefits of Biden's proposals are greater than the cost of his proposals.
I am saying that lying to the American Public about how his proposals are an indirect tax, and a significant one, on all Americans is a dishonest and unfair way to gain approval and support for his policies and goals.
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