Economics 101: Consumers Will Pay for Higher Taxes on Energy Production

Rep. John Sullivan, vice chairman of the House Energy and Power Subcommittee, on President Obama’s call for higher taxes on energy producers:

This kind of logic makes you wonder if the president will tax grocery store owners more because food prices are up. Increased taxes increase the cost of doing business, and when the cost of doing business increases in any industry, those costs are passed on to the consumer.

You can read the rest of his excellent article here.