"On 2/24/2012 1:13 PM, Tom Huff wrote:the market.
> I am sure it did not help. Along with the stock market tanking. "
In another thread, we were discussing high gas prices and the
consequences from them. Tom and I both believe that high gas prices
cause the economy to falter.
Higher gas prices means higher revenues and profits for somebody;
after all, we know the costs don't go up - just the revenues go up.
There is some evidence that the real profits from these gas price
explosions end up in the hands of hedge fund managers. In the
billions of dollars. In many instances, these prices go up through
manipulation and are not at all a normal function of supply and
demand. There are individuals harvesting billions of dollars and
paying incredibly low tax rates, and they are doing this by manipulating
This raised the following question in my mind: Is it a role of
government to provide for the general welfare by providing a free
market place that is not being manipulated by a powerful few? A place
where fair and equitable trade and enterprise can flourish, and the
crooks, manipulators, and scoundrels are driven out of the market
place? If that is so, would the tax code be one of the appropriate
places where these issues could be dealt with?
In other words, can we make the case that taxing these manipulators at
rates high enough to change the risk/reward ratio in such a way that
price-fixing is no longer hugely profitable for them?
The result of such a policy would most likely be a fair and free
market place, with energy prices being a true reflection of supply and
As should be the case in a free market.--
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