Dem Oil Bill Goes Down
Posted by Ryan on June 10, 2008
Score one for capitalism today, as the Dem’s “windfall profits” tax bill couldn’t get the sixty votes needed for cloture. Hence, the bill is dead for now. This populist, anti-capitalist proposal underscores the success Dems have had in deflecting the issue of energy prices solely onto the producers, not the regulators. Congress won’t let them drill, therefore Congress affects supply. Talk to Adam Smith — he knows what’s up when it comes to the relationship between supply, demand and price. Fourth graders know this concept too, yet the Dems somehow don’t.
And our future fearless leaders, both McCain and Obama , decided that they were not going to participate in today’s important vote. Truly a profile in courage on both sides. McCain misses a huge opportunity if he and the Republicans don’t jump on this issue quickly, loudly and consistently.