Wednesday, June 11, 2008

The Problem With Democrats

OK, this problem is the same with Republicans as well, but I am mad at the Democrats today.
A bill failed today that would have eliminated government subsidies to oil and gas companies. But they just couldn't leave it at that. They had to overplay their hand and try to tack on a tax on profits.

Don't get me wrong, I agree with these policies. There is absolutely no reason whatsoever that oil companies clearing 100 billion dollars a year need even more money. Why should oil companies get money from me via their mark up on their product (some of which is fine) and through the tax code (which is nothing less than thievery)?

Democrats have vastly overestimated their power. This always happens in politics. I am pretty sure that eliminating the subsidies would have passed, but they had to go and sabotage their own efforts. Oh sure, they will blame the Republicans, but is it worth the headline and the soundbite in order to lose legislatively?

It was arrogant to overplay their hand. Democrats, if you really want my vote (and you have a pretty good chance at getting it life long Republican) then you had better get smarter and whole lot humbler than you are now. Please do as much as you can, not as much you want. Don't let your idealism paralyze you with nothing to show for it besides a bunch of noxious whining and blaming. Legislate intelligently, patiently, and skillfully.

For example, go for the subsidies now and then go for the tax increase on windfall profits in two years.

4 comments:

Anonymous said...

There is no windfall profits on oil and the government makes much more on the sale of gas than the oil companies.

Fajita said...

Couldn't care less. Oil doesn't need subsidies.

Oil doesn't need welfare.

Anonymous said...

I was just pointing out that if there is no windfall profits you can't have a tax increase on them.

MichaelPolutta said...

I don't get the rationale for windfall profits tax in the first place. I do not think it is defensible. I think it is one of the ugliest forms of punishing achievement that government has concocted so far.

I have not yet witnessed government tampering with the market that has made things better.