Let’s say you are an average household with an income around $100,000/yr who has an increase in electricity rates from $300 to $500 due to Joe Biden’s new national energy policy known as the Green New Deal. That’s $200 more per month for this initial economic/energy “transition” moment.
That extra $200/month equates to $2,400 per year.
That $2,400 per year is static economic activity. Meaning nothing additional was created, and nothing additional was generated. The captured $2,400 is simply an increase in the price of a preexisting expense.
Take that expense and expand it to your community of 100 friends and family households. The $2,400 now becomes $240,000 in cost that doesn’t generate anything. $240,000 is removed from the community economy. $240,000 is no longer available for purchasing other goods or services within this community of 100 households.
The economic purchasing power of the 100-household community is reduced by $240,000 per year.
Take that expense and expand it to your county of 10,000 households. Now you are reducing the county economic activity by $24 million. In this county of 10,000 households, $24 million in economic transactions have been wiped out. Meals at restaurants, purchases of goods and services, or any other spending of the $24 million within the county of 10,000 households (approximately 25,000 residents) has been lost.
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