Monday, October 23, 2006
Liberals never learn
The latest example of liberal idiocy comes from California where many such examples originate. Consider Proposition 87 on the ballot for the upcoming election. This would raise the tax on all oil extracted from California by 1.5% to 6% depending on the price of oil. The logic? Well, they want to reduce energy consumption and dependency on foreign oil. In sum, they want to tax California oil so consumers will use less oil from Saudia Arabia. This is stupid enough, but they go further. This measure would cost California oil producers an estimated 4 billion dollars over the next 10 years and there is a separate section that would prohibit oil companies from passing the increased cost of the higher taxes on to consumers. So the logic is that consumers will use less of something when the cost does not increase. In fact, the net effect will be a tariff on our oil which will actually make America more rather than less dependent on foreign sources. Amazing.