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Shop NowGavin Newsom continues to prove he is nothing more than a good haircut and a smile.
Newsom decided to wage war against oil companies because of the higher prices in California.
His brilliant idea was to tax them more.
Not Going to Work
What Newsome does not seem to realize is that the reason California gasoline is so high is because of the taxes the state imposes already.
If he imposes another tax, that will just get passed right along again.
Michael Mische, a professor at the University of Southern California Marshall School of Business, stated, “Enacting SBX1-2 is not in the best interests of the consumer, will not reduce retail pump prices and is not in the best long-term economic interests of California.
“There are better alternatives.”
He continued that the bill “will only make matters worse for the California consumer” and “serve as a disincentive for investing in supply and new technologies for the refiners.
“Enacting it will reduce supply, force out producers and reduce employment in a high-paying sector.”
This is the man that is being touted as the future of the Democrat Party, and he does not understand simple economics.
Dumber than a box of rocks.
Source: Fox News
