The Economist's Cookbook

Recipes For A More Free Society

  • "The curious task of economics is to demonstrate to men how little they know about what they imagine they can design."

    - F.A. Hayek

Gov't as a Price Gouger

Posted by The_Chef On 3:12 PM 0 comments

Props to Russell Roberts over at Cafe Hayek for this little gem:
Roberts on George Will on Price Gouging
Here is the link to the full article from the Washington Post:
Posturing At the Pumps By George F. Will
Wow, just wow, the inane nature of politics in this country continues to amaze me! This short bit especially got me riled up:
"The bill does not explain how a gouger can gouge when his product is obtainable more cheaply nearby. Actually, Pelosi's constituents are being gouged by people like Pelosi -- by government. While oil companies make about 13 cents on a gallon of gasoline, the federal government makes 18.4 cents (the federal tax) and California's various governments make 40.2 cents (the nation's third-highest gasoline tax). Pelosi's San Francisco collects a local sales tax of 8.5 percent -- higher than the state's average for local sales taxes."

Wait wait wait .... those KAZILLIONS of dollars that the oil companies are making in profit is eclipsed in profit by the Federal, State, and Local governments?!?! NO WAY! *chuckle* This foolishness truly has risen to new levels.

By the Way, that picture makes me chuckle.

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