Democrats want price gouging a federal crime

cnn ^ | 5/7/6

[LouAvul]

With gas prices above $3 a gallon in many places, Congress should pass legislation by Memorial Day to make price-gouging a federal crime, Sen. Maria Cantwell said Saturday in the Democrats' weekly radio address.

Cantwell, of Washington state, also called for increased investments in alternative fuel development to break what she called America's over-reliance on oil, particularly from other countries.

"It's time that we simply stop talking about energy independence and start running toward a future that will make America more secure and more economically competitive," she said.

Cantwell, who is seeking her second term this fall, said gas prices have shot up more than 70 cents in one year, leaving consumers with few options.

"The American economy and American families are hurting," she said.

Cantwell cited reports of school days being canceled because local school districts can't afford the cost of diesel fuel for buses, and airline jobs and pensions being lost "because airlines can't afford the skyrocketing cost of jet fuel."

While about half of the oil consumed in the United States comes from foreign countries, Cantwell said Democrats believe America can be "energy independent" by 2020.

"It begins with conservation and efficiency," she said. "We can ask Americans to sacrifice. We can ask Americans to conserve. We can ask Americans to innovate and invest in new technologies. We just can't ask them to accept the status quo."

[LouAvul]

IIRC, this is tantamount to caps. Caps create shortages because investors will simply find investments that will approximate the desired return.

[Clemenza]

"Price gouging"= making a profit.

Populists should be shot for their idiocy on such issues.

[freedumb2003]

I see the 10th Amendment is once again actively being dismantled by the Left.

[hflynn]

If the Demons won't do do something about gouging all they have to do is make it a Congressional crime.

[jigsaw]

Let's make stupidity a crime and put Cantwell in prison.

[eleni121]

This bozo Cantwell - doesn't she read the paper? Hawaii tried it and just repealed it.

Calling Cantwell...

http://khon.com/khon/displayStory.cfm?storyID=13379

[Doc91678]

And the Democrats talk about loss of civil liberties and how intrusive the Republican party is getting? My oh, my this is a home rule issue not federal.
If the Democrats get into office they will try and rule every instant of our lives just like the Russians do to their people.

[putupjob]

Sounds like very selective prosecutions on the way, if this dog ever becomes law.

[The_Victor]

Will the definition of "price gouging" include over taxation?

[eleni121]

Actually in many ways Russians have more "freedom" than we do.

http://english.pravda.ru/news/world/28-04-2006/english.pravda.ru/main/18/88/354/16351_freedom.html

[DLfromthedesert]

And how did this fraud vote on drilling in ANWR?

[goodnesswins]

GOOD....let's start with the GOVERNMENT!!!!

[infidel29]

And who is it that determines whether it is gouging or the natural market forces that are driving the price?

Another good example of Quinn's first law: "Liberalism always generates the exact opposite of it's stated intent."
Cap the prices to avoid "gouging" and create shortages, which in turn cause the price to go up due to supply and demand.

Is there something in the water in DC that retards the mental capabilities of those who spend too much time there?

[tuvals]

Will it also include "PORK SPENDING"?

[decal]

"Better Living Through Government Interference" could be the Dem Party motto.

[Normal4me]

The government MAKES the laws, they don't abide by them!

[Michael.SF.]

I heard Hannity touting that the government gets $0.50 dollars per gallon vs. 'Big Oils' $0.085 Per gallon profit, per each gas dollar. If true, then the only gouging is by the government.

This chart does not seem to back those numbers up:

[AGreatPer]

Thank you for the tag line.

[timm22]

With gas prices above $3 a gallon in many places, Congress should pass legislation by Memorial Day to make price-gouging a federal crime, Sen. Maria Cantwell said Saturday in the Democrats' weekly radio address.

To recap, a Democrat made a suggestion for another unConstitutional, socialist law.

In other news, it is reported that college students like to drink beer and that gun shot wounds are unhealthy.

[Two-Bits]

Regarding price gouging........

Can we apply that to taxes???????

[Gone_Postal]

what about tax gouging

[Paleo Conservative]

"The American economy and American families are hurting," she said.

People bought houses further away from their jobs when oil prices declined after the 1980's oil bubble burst and increased the length of their commutes.

[GATOR NAVY]

Will the definition of "price gouging" include over taxation?

Of course not. Only evil capitalists are capable of price gouging, not the benevolent government.

[timm22]

And the Democrats talk about loss of civil liberties and how intrusive the Republican party is getting?

I know. I don't like the idea of being told what I can read or warrantless searches or anything else the Democrats try to pin on the Republicans. But I see rules telling me where, how, and when I can dispose of my money as equally intrusive and offensive as any of those alleged violations of my civil rights.

The right to earn to earn money, own property, and exchange with others is just as fundamental as my right to speak freely.

[Imgr8t]

As far as I'm concerned.. what the Dem's consider price gouging is the free market at work.

No way. I'm not buying it. : See Jimmy Carter Administration for further info...

[Doctor Raoul]

If Tax Gouging were a crime, Democrats would get the chair.

[Baynative]

17% in various taxes on $3.00 is .51 cents. The chart lumps refinery costs and profits together but doesn't give percentages.

I'd guess gas companies have figured out how to make the refinery process a separate business and cahrge a profit going out the door there. But, of course there would be more taxes there, too.

[Cringing Negativism Network]

Can we outlaw tax gouging, while we're at it?

[Normal4me]

interesting difference.

http://www.taxfoundation.org/publications/show/1054.html

[Denver Ditdat]

Does this apply to the sky-high tuitions charged by leftist universities?

[Mr_Moonlight]

Cantwell, of Washington state, also called for increased investments in alternative fuel development to break what she called America's over-reliance on oil

Perhaps the good Senator from Washington can convince the good Senator from Massachussets to allow offshore windmills to generate electricity (ie:ENERGY) far from the coast of his beloved Martha's Vineyard ...........

[USFRIENDINVICTORIA]

That was quick. Of course, it would have been quicker if anyone had just cracked open an economics text, before imposing the caps in the first place.

[Mad_Tom_Rackham]

I agree. Let's start with the gouging by the Federal and State governments, which make more per gallon in taxes than the oil companies do in profits.

[FlingWingFlyer]

I'd like to see somebody make tax gouging a Federal crime.

[ProtectOurFreedom]

We should demand Congressional investigations of BIG MEDIA. Time Warner's profits are up 60% over last year!

[Michael.SF.]

17% in various taxes on $3.00 is .51 cents

My bad. I did not phrase it correctly. It should have been per gas dollar, not per gallon.

[stm]

To take that one step further....let's outlaw liberalism and make it tantamount to treason.

[Torie]

Price gouging"= making a profit

Definition of terms is everything, isn't it? There really isn't any way to go down that route, and reduce oil company profits, unless conscious parallelism becomes a crime, and then the free market system will shut down, and SCOTUS will have a fit. Congress will have to do it the old fashioned way, and just tax it some more, with an "excess" profits tax.

[SouthTexas]

Let's have a test run in Congress first!

[Man50D]

Congress passes legislation to put oil on the futures market and now blames the oil companies. Then Senators Reid and Specter proposed last week to impose a federal windfall profits tax on oil Congress plays to the crowd in rush to tax big oil and now Cantwell at the same time wants to criminalize success. Taxing oil companies success will only result with the oil companies passing the tax on to the consumer in the form of higher prices. That's probably the reason why the oil market was depressed after the Oil Windfall Profit Tax Act in 1980.
All companies are trying to maximize thier profit in a capitalistic economy. The oil companies are no different. If we allow governments to set the price of one good or service it will only open the door any other good or service. Congress either fails to understand or chooses to ignore is the consumer has the power to determine prices by using the economic law of supply and demand. People can force the prices lower if they decrease thier demand by consuming less gas and use other forms of energy at the same time.
Congress should pass legislation to remove oil form the futures market, drill for oil in ANWR. Any time government tries to usurp the economic laws of supply and demand the economy suffers.

[OldFriend]

Over 200 demonrats voted against expanding refinery capacity.

[nightdriver]

"Congress should pass legislation by Memorial Day to make price-gouging a federal crime, Sen. Maria Cantwell said Saturday.."

That conclusively confirms Cantwell as a "corporatist."

That was the "Socialist" aspect of the National Socialist party in Germany. (Nazi)

[EyeGuy]

"The American economy and American families are hurting," she said.

I wonder how many of those American families are "hurting" because of the increased cost of commuting to the casino.

[tomzz]

For starters, we need to force open the oilfields offshore of Californicatia and Flori-duh. I mean, there are a lot of other things I'd want to do, but that would have to be the opening move.

[HoosierHawk]

You are absolutely right. The only good thing Carter did was leave office. And he still whines all day long about America's sovereignty. He's a putrid, little man.

Don't get me started. I voted for Ford.

[Mad_Tom_Rackham]

Over 200 demonrats voted against expanding refinery capacity.

As per usual, ignorant and naive Democrats screw things up, scratch their fat heads when everything goes to hell, and castigate capitalism as the cause, and attack the Republicans for trying to straighten out the quagmire created by the Democrats. This happens so often in almost efery area that its could be considered a mathematical postulate and a natural theorem.

[sharkhawk]

Didn't Cantwell make her money from Microsoft? How much profit does Microsoft for each piece of software they sell? Maybe she should be charged with gouging.

[Suzy Quzy]

I'll tell you who price gouges...REAL ESTATE AGENTS!! My last one got $20,000.00 for putting some info in a computer!!! Never showed it and fielded a few phone calls!! PRICE GOUGING!!

[Imgr8t]

I can't say anything because I wasn't born until 1973. I remember Reagan sworn in and that's where my memory begins... but I've read enough to know that the peanut man from GA is NOT what this country needed.

[Torie]

It was some other company, and then that company tanked, and Cantwell's wealth was largely eviscerated. She now needs lobbyists to fund her. Sad.