Can we call them “Socialists” yet?

Posted by: Phineas on January 19, 2012 at 4:28 pm

**Posted by Phineas

Harking back to some of the worst excesses of the New Deal, six Democratic members of the House lead by Denis Kucinich (D-UFO) and all but one members of the Congressional Progressive Caucus, have proposed an additional tax on oil companies to be levied when profits rise above “a reasonable level”:

The Democrats, worried about higher gas prices, want to set up a board that would apply a “windfall profit tax” as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.

The Gas Price Spike Act, H.R. 3784 (PDF), would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100 percent on all surplus earnings exceeding “a reasonable profit.” It would set up a Reasonable Profits Board made up of three presidential nominees that will serve three-year terms. Unlike other bills setting up advisory boards, the Reasonable Profits Board would not be made up of any nominees from Congress.

The bill would also seem to exclude industry representatives from the board, as it says members “shall have no financial interests in any of the businesses for which reasonable profits are determined by the Board.”

And, of course, “reasonable” would be in the eye of the beholder: in this case, appointees of Barack Obama, renowned class warrior and Socialist. What could go wrong?

Of course, this isn’t about the economic ignorance of the members sponsoring the bill; they’re leftist Democrats, progressives. It’s practically an unwritten law that you have to give up any understanding of basic economics to join that club. The idea that these profits can be returned to shareholders, including pension funds and individual middle-class Americans, many on retirement, via dividends and capital gains is immaterial. And don’t even think of suggesting that these oh so unreasonable profits could be used to expand the business or explore for more oil –or both!– thus creating jobs.

Like I said, to join the club, you have to forswear any economic common sense.

No, this bill, which will never pass the House or even get out of committee, is nothing more than an election year appeal to the worst of Americans populist instincts: class warfare, punishing those “evil” oil companies, and looking for a scapegoat for high gas prices rather than understanding the Law of Supply and Demand. Oh, and already-high federal, state, and local taxes.

It’s all about pandering to people’s frustrations, so they won’t blame the real cause: the radical and against-all-reason natural resources policies of the Democrats and their environmentalist allies that keep us from developing the vast resources we have.

It’s the political equivalent of “Look! It’s Elvis!”

But, let us not forget, it’s also about control and power. These are, after all, progressives, social democrats. Some are full-blown Socialists. It’s their belief that only government can fairly (in their definition, again) distribute wealth. They may not be Marxist, and are thus willing to allow the shareholders to still own their companies, but government has first call on “your” money, to do with what it will. You can keep whatever they decide is reasonable.

Which is why I put “your” in quotes.

In their world, you are not a free citizen with unalienable rights, but a dependent who must wait to see how much of what you earn government will let you keep.

So, while this bill may be a bit of populist red meat that will never pass, it has a very real and very pernicious-to-liberty philosophy behind it.

And it’s another example why the Democrats should never win another election again.

via Jammie Wearing Fool

(Crossposted at Public Secrets)

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11 Responses to “Can we call them “Socialists” yet?”

Comments

  1. Great White Rat says:

    government has first call on “your” money, to do with what it will.

    And the perfect response to that is here.

    (And for the last time, Phineas: No, you can not have my governor.)

  2. Phineas says:

    (And for the last time, Phineas: No, you can not have my governor.)

    Selfish. [-(

  3. david foster says:

    This is not socialism, it is economic fascism.

    The socialists thought, quite wrongly, that they could do a better job of managing an economy’s productive assets, but at least they had the guts to be willing to step up and give it a try.

    Economic fascists would rather leave the assets in nominally “private” hands while giving themselves command authority over these enterprises, but keeping enough distance that they can’t ever be held responsible for the outcomes.

  4. Brontefan says:

    Why can’t we call it socialism? POTUS has come out several times already to state categorically, this country has tried Capitalism and it doesn’t work! I see the usual suspects cheering… those who will make the laws & regulations under socialism—and the rest of us who will be saddled with the restrictive life that’s left. Government always wants MORE money but they have an annoying habit of flushing it down some “green” toilet…like Solindra.

  5. Terry_Jim says:

    There is a name these people should have hung on them.
    On them and their job-destroying, globalist, redistributionist policies that result in slavery to an oppressive State.

    That name is “Democrat”.

  6. Glenn Bergen says:

    Isn’the POTUS special? He’s got all that book learning and He just “knows” capitalism doesn’t work. Over the past 2 years since I retired, I have come to watch Keynesian economic packages come and go. I have come to realize the 2 semesters of economics in college were a load of BS. I have spent considerable time reading/ re-educating myself with Thomas Sowell, FA Hayek and Ludwig von Mises. I have become a huge follower of the Austrian School of Economics. Come on free market economy…. bring it on!!

  7. Glenn Bergen says:

    NO, you can’t called them socialists. We have a shadow government of 26-27 “czars”. They are appointed by the POTUS, no confirmation by the Senate. If they want to remain Czars; then send them back to Russia; to help Putin’s “re-election” campaign. I was born in this country, and I never wanted to live under a Czar.

  8. Drew the Infidel says:

    Good point Glenn Bergen. If I wanted to live like a European I would move there, not have my ass over here and my heart over there like a certain WH resident I could name.

  9. Carlos says:

    You describe a very potent socio-economic system, Phineas. Let’s see, what is it called? Oh, yes, National Socialism.

    Back in the days before, during and just after WWII there was a shortened version of that moniker, and try as they might this administration cannot remove it from the terms used to accurately describe its rush to that form of governance: NAZI.

    Mr. Hitler seemed to think the fount of all ills was the Jews. Mr. Holder seems to think the source of that fount now is white capitalists. I wonder what his “ultimate solution” will be, since he’s already got a blueprint from which to design?

  10. Chris in N.Va. says:

    And who better to render pure, impartial, Solomonic judgment on what is “reasonable” than these rational, OWS-supporting (such fine, upstanding yoots), Obamessiah-worshiping sycophants?

    Suuuuurrrrrre, here, take absolute Power of Attorney over the life of every U.S. citizen while you’re at it. We, the downtrodden, ignorant peasants surrender our wills and lives to our beneficent and all-wise Overlords.

    Riiiiight….

  11. Glenn Bergen says:

    Carlos and Drew (and anybody else, that’s interested ) I have 2 recommended readings; 1) For Drew; If want to see where BHO is taking us to a European Socialism, please read “New Road to Serfdom” by Daniel Hannan. He makes a convincing argument as to we should not adopt an EU model as our standard.
    For Carlos, for all the research/ reading on conservetive thought; the outcome “these are our principles” ,but they don’t go any further. Carlos, a possible answer to your Socialism/ NAZI question might be found in Ludwig von Mises book, “Liberalism” written in 1927. His question was, If not Socialism….what?, If not Fascism….what?. The book was written in 1927 as Hitler was starting ascend in power. I ordered both these books 2 weeks ago on Amazon. Bon Apetit