One reason Joe Biden’s presidential prospects are wilting before our eyes: angry voters disgusted by the worst inflation in more than 40 years. As of Wednesday’s CPI report, the cumulative increase in overall prices since Biden took office has been a crushing 20%, but the jump in the cost of gasoline has been twice as bad. In January 2021, the average price at the pump was $2.39 a gallon; as of yesterday (June 15), it’s at $3.45, an increase of 44%.
But these upsetting prices would have been even worse if liberal journalists had their way, as reporters repeatedly lobbied in favor of massive increases to the already-high federal gas taxes. Right now, the average motorist pays roughly 51 cents a gallon in combined federal (18.4 cents) and state taxes (32.44 cents), or about 15% of the total cost of $3.45/gallon. That’s far higher than the tax on other…
