The Wrong Way to Tackle Inflation

The Wrong Way to Tackle Inflation

California Governor Gavin Newsom’s proposal sounds reasonable, given that gas costs $5 a gallon or more in much of the state. It is not. Carolyn Drake / Magnum This week, California Governor Gavin Newsom proposed a kind of universal basic income for cars. This is, put short, a bad idea.

The proposal was part of a package of policies designed to shield families in the state from the wallet-squeezing, impoverishing effects of inflation in general, and spiraling gas prices in particular. He’s asking the state legislature for $500 million for walking and biking projects, three months of free public transit […]

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