Under Joe Biden, the FTC is proposing regulations on businesses that supposedly will save consumers $1 billion per year… which works out to around $3 per American, per year.

From CNBC yesterday:

The FTC’s rule proposal would prohibit businesses from burying fees within a transaction and force them to present the amount and purpose of surcharges, upfront — potentially saving consumers over $10 billion over the next decade, according to a release. Under the rule, the commission would be able to secure refunds for consumers if the mandate is violated.

Biden is adding regulations as fast as he can, a move which increases costs (inflation) and reduces productivity.

Inflation has skyrocketed since Biden took office. When your goal is to destroy the petroleum industry and OPEC, other producers and traders get the message and that enables them to raise their price.

Crude oil has more than doubled from around $40 when Biden took office to over $80 per barrel today. Americans use around 20 million barrels per day, or 7.3 billion barrels per year. So the extra $40 per barrel costs Americans $290 billion per year or 290 times the $1 billion that Biden is bragging that he is supposedly saving the public on junk fees.

Of course this is only one component of inflation. It is no wonder that more than half of Americans are living paycheck to paycheck and have little in savings.

People should recognize that rising petroleum prices harm everyone, but especially the poor and middle classes, and small businesses. Contrast that with junk fees, where most are discretionary. For example, the poor rarely (if ever) enjoy the luxuries of amenities which often come with “junk fees” like hotels, airlines, and concert tickets.

And most of the media wonders why Americans aren’t happy with Biden’s economic policies like they are.

It is a shame that so few people in the Biden administration and the media understand economics.

The Bidens have found a way to line their pockets for years with kickbacks while burdening Americans with massive regulations. Hunter also seemed to think he is special and shouldn’t be burdened with paying taxes like the rest of us.

How much extra money do Russia and Iran have to fund aggressions and terrorism due to Biden’s hostility and intentional war against petroleum companies and his complete devotion to green pushers?

And always remember, there is not one piece of scientific data that shows a direct relationship between our use of petroleum products and fluctuating temperatures. It is a massive scam and it has been obvious for a long time.

Notice how Biden and his administration have not come up with any government junk fees and taxes that they could reduce or abolish. Maybe they should publicly disclose a list. Of course there is never enough money for Democrats to confiscate. 

Maybe, all the fees and taxes that were imposed to pay for Obamacare should be disclosed every time people buy health insurance. Here are the taxes that were imposed to pretend Obamacare was funded:

$123 Billion: Surtax on Investment Income … A new, 3.8 percent surtax on investment income

$86 Billion: Hike in Medicare Payroll Tax

$65 Billion: Individual Mandate Excise Tax and Employer Mandate Tax

$60.1 Billion: Tax on Health Insurers

$32 Billion: Excise Tax on Comprehensive Health Insurance Plans

$23.6 Billion: ‘Black liquor’ tax hike

$22.2 Billion: Tax on Innovator Drug Companies

$20 Billion: Tax on Medical Device Manufacturers

$15.2 Billion: High Medical Bills Tax

$13.2 Billion: Flexible Spending Account Cap – aka ‘Special Needs Kids Tax’

$5 Billion: Medicine Cabinet Tax

$4.5 Billion: Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D

$4.5 Billion: Codification of the ‘economic substance doctrine’

$2.7 Billion: Tax on Indoor Tanning Services

$1.4 Billion: HSA Withdrawal Tax Hike

$0.6 Billion: $500,000 Annual Executive Compensation Limit for Health Insurance Executive

$0.4 Billion: Blue Cross/Blue Shield Tax Hike 

Bidenomics is brilliantly described by Ronald Reagan via NBC News:

‘Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.’

Image: Free image, Pixabay license, no attribution required.