The wheels continued to come-off the Biden administration over the weekend when the Secretary of the Treasury bizarrely claimed proposed tax increases are not a “wealth tax” but simply a new tax on “wealthy individuals.”
“It’s not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals,” said Secretary Janet Yellen.
.@SecYellen on the proposed tax which would pay for the Build Back Better act: "It's not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals." pic.twitter.com/XGsQC3GgIU
— The Hill (@thehill) October 24, 2021
Yellen’s comments come just days after the White House was forced to “clarify” a series of statements made during Joe Biden’s CNN Town Hall event.
When asked whether he would deploy the National Guard to drive trucks, the Chief Executive replied: “The answer is yes, if we can’t move to increase the number of truckers, which we’re in the process of doing.”
“We are not actively pursuing the use of the national guard on a federal level,” a White House official later told Fox News.
“China, Russia, and the rest of the world knows we have the most powerful military in the history of the world. Don’t worry about whether we’re going to – they’re going to be more powerful,” Biden said in the CNN town hall. “What you do have to worry about is whether or not they’re going to engage in activities that will put them in a position where they may make a serious mistake.”
“I just want to make China understand that we are not going to step back, we are not going to change any of our views,” Biden said.
“There is no change in our policy,” a White House spokesperson told Fox News. “The U.S. defense relationship with Taiwan is guided by the Taiwan Relations Act.”
Watch Yellen’s comments above.
CARTER 2.0: Southeast Gas Stations Ration Fuel, Cars Line-Up, Drivers Wait for Hours
Americans in the southeastern section of the country had flashbacks of the 1979 Oil Crisis this week when gas stations began rationing fuel in the aftermath of a major cyberattack against a pivotal pipeline.
“The closure of the 5,500-mile Colonial Pipeline, which carries more than 100 million gallons of fuel from Texas to New Jersey each day, has stretched into its fifth day,” reports the New York Post.
“It sparked wild scenes of panic buying across Georgia, Florida, Virginia and South Carolina — with North Carolina Gov. Roy Cooper and Georgia Gov. Brian Kemp even declaring states of emergency in their areas. Kemp also issued an executive order suspending Georgia’s gas tax through Saturday to help offset the costs of higher fuel prices,” adds the newspaper.
“I DON’T HAVE ANY GAS AND THE STATE OF NORTH CAROLINA DOESN’T HAVE GAS!! WHAT IN THE 2021 IS GOING ON !!” one panicked driver tweeted.
“I’ve seen all these cars waiting and I was like, ‘OMG. I have to fill my tank up!’” said another.
Read the full report at the New York Post.
CARTER 2.0? Gas Runs Dry After Pipeline Cyberattack, Long Lines in NC, SC, FL, VA
A cyberattack against a major energy pipeline along the East Coast caused fuel shortages in states like Florida, Virginia, and South Carolina Tuesday as security experts scrambled to get the key piece of infrastructure back online.
“Drivers along parts of the East Coast are feeling the immediate effects of the shutdown of the Colonial Pipeline following a ransomware attack, reports CBS News’ Laura Podesta. Some waited an hour or more on lines at gas stations before filling up or learning the pumps had run dry,” reports CBS News.
— Chaunte' Turner (@ChaunteLive5) May 11, 2021
“It was unbelievable. When I was driving today, I thought it was a catastrophe coming! I’ve seen all these cars waiting and I was like, ‘OMG. I have to fill my tank up!’” said one local in South Carolina.
Gas prices jumped six cents within 24 hours, raising the national average to nearly $3 per gallon.
“If this outrage goes past the end of the week … prices could spike pretty dramatically,” said Kevin Book of Clearview Energy Partners.
Read the full report here.