If Only Government Could Have That Money
Jackson Miller, government lover, is sad. He laments what he calls a missed opportunity.
In October 2005 I wrote a post asking for a higher gas tax; I wanted taxes to create $5 gas. The idea (and by no means was it my idea) was that a higher gas tax would accomplish 3 things:
- Higher gas prices would reduce consumption, thus lowering the base price of gasoline
- Demand for fuel efficient vehicles would increase
- All additional gas tax revenues would have been spent developing alternatives to dependance on foreign oils and carbon burning fuel (and maybe some money could go to beefing up the national oil reserves)
Three years later we will have $5 gas, but all of the increase will be going to profits for private companies.
Oh how awful. Private companies are making profits, instead of government. Yes private companies owned by stockholders, everyday Americans participating in 401K plans, pension plans, etc. 41% of oil company stock is owned by people like firefighters and teachers in pension retirement plans, and nearly 30% are owned by mutual funds. And guess what happens when these corporations make profits? Well of course, these firefighters, and teachers all benefit. But the government does too, in that it brings in more tax revenue from these evil profit makers.
Jackson seems to think that if oil companies do not make a profit, that they will still somehow find an incentive to take the risk of spending millions each year to bring us this precious and necessary commodity.
Aw yes, the mind of a liberal. Strange thing.
State education budgets across America being cut, teachers raises canceled, hiring freezes, and oil companies are raking in record profits. Makes sense Glen.
Makes sense to me. Of course if I was a commie, like you, it wouldn’t make any sense. But go ahead and tax gas William. See how much you collect from the oil companies then. Of course that isn’t what its about, is it? You don’t really care if you bring in less revenue. You just want to stick it to those evil profit makers, those evil capitalists.
That’s the rub. You don’t stick it to the evil capitalists, you stick it to the consumer. They pass that tax right on to them.
I take umbrage with that premise. You’re talking about a guy who sells rich kids’ used dirty underwear to poor kids wanting to be like them. Laments gas taxes but drives a big gas guzzling pick-up truck.
Nice find. You’d be hard pressed to scope out a bigger hypocrite. Natch.