Spinning Oil & Gas Prices
Recently I wrote about a letter I had received from Senator George Voinovich in response to my contacting him about energy prices.For the full article see:
http://pontificating-randy.blogspot.com/2007/12/wheres-all-of-oil.html
The senator said that one of the benefits of high oil prices is the amount of extra tax revenues received by the Federal Government. Just recently on CNBC, they gave another thing that we Americans should be thankful for; that is, the governments in the Middle East, where those GOVERNMENTS control the oil***, are investing some of their huge profits in America, by buying into, or buying up American companies. Now we can all sleep peacefully in the knowledge that some of our money is coming back to us, sort of.
Just think, your house has just been robbed, or a pickpocket has gotten your money. You go to the police and the sergeant tells you, "Hey, I know your upset, but look at the bright side. The thief will spend that money and help the economy, and while the thief won't pay taxes on it, the businesses where he spends the money will pay taxes, and that helps Uncle Sam, the state, and the local government; so cheer up, it isn't as bad as you've made it out to be." Ah, the benefits of thievery!
*** No talk about government intervention or handwringing by business people in these countries about government ownership. No talk about the "free market" either, except that they love the free markets in other parts of the world that have made them even richer.
http://pontificating-randy.blogspot.com/2007/12/wheres-all-of-oil.html
The senator said that one of the benefits of high oil prices is the amount of extra tax revenues received by the Federal Government. Just recently on CNBC, they gave another thing that we Americans should be thankful for; that is, the governments in the Middle East, where those GOVERNMENTS control the oil***, are investing some of their huge profits in America, by buying into, or buying up American companies. Now we can all sleep peacefully in the knowledge that some of our money is coming back to us, sort of.
Just think, your house has just been robbed, or a pickpocket has gotten your money. You go to the police and the sergeant tells you, "Hey, I know your upset, but look at the bright side. The thief will spend that money and help the economy, and while the thief won't pay taxes on it, the businesses where he spends the money will pay taxes, and that helps Uncle Sam, the state, and the local government; so cheer up, it isn't as bad as you've made it out to be." Ah, the benefits of thievery!
*** No talk about government intervention or handwringing by business people in these countries about government ownership. No talk about the "free market" either, except that they love the free markets in other parts of the world that have made them even richer.
Labels: energy prices, free markets, Senator Georege Voinovich
posted by Randy at 12:26 AM
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