Boy Clinton, Economic Illiterate
Clinton Touts Oil Tax Measure at UCLA Rally
Spoken like a guy who's never worked in the real world.
A tax on oil profits won't lead to an increase in prices? Has this guy ever even run a lemonade stand or worked a drive thru window?
As for "grants and loans to projects developing alternative fuels and more energy-efficient vehicles" -- clearly the boy genius has no clue where new products and technologies come from. Every great advance -- the auto, the personal computer, life-saving pharmaceuticals -- springs from someone's desire to make a lot of money. That these creations greatly serve mankind is one of the wonders of capitalism.
When the costs and inconveniences of alternative energy sources fall below those of current sources the world will embrace the former.
Prop 87's "[G]rants and loans" will be doled out in return for political favors to patrons whose ideas are unworthy of private sector capital and will continue to be lavished even when such ideas prove to be duds. That is how Government works. When it is not your money the fact that is is being pissed down a rathole is of no concern to you.
The lip biter has at various times made a living off the taxpayers, donors to his insipid foundation and initiative and foreigners willing to pay a hefty fee to hear him bash America. Never has he been involved in an enterprise where supply, demand and profit were the primary considerations.
Perhaps the fellow we are constantly told is so much smarter than the rest of us should get an education in basic economics.
We suggest a paper route.
Accusing oil companies of lying about the cost of Proposition 87, former President Clinton on Friday called "bogus" their contention that approving a tax on oil revenues would trigger higher gas prices for California motorists.
During a rally at UCLA, the former president said the state ballot measure would help California move toward less expensive, cleaner forms of energy by funding research into alternative fuels.
...
"California is being given an opportunity and an obligation to do something remarkable — to save the planet, improve our national security, create the next generation of good jobs for the American people," Clinton said.
The measure on the Nov. 7 ballot would impose up to $485 million a year in taxes on companies that extract oil from California land, with the money going to finance research and development of alternative energy. Over its life, the measure would raise $4 billion for grants and loans to projects developing alternative fuels and more energy-efficient vehicles.
...
-more-
Spoken like a guy who's never worked in the real world.
A tax on oil profits won't lead to an increase in prices? Has this guy ever even run a lemonade stand or worked a drive thru window?
As for "grants and loans to projects developing alternative fuels and more energy-efficient vehicles" -- clearly the boy genius has no clue where new products and technologies come from. Every great advance -- the auto, the personal computer, life-saving pharmaceuticals -- springs from someone's desire to make a lot of money. That these creations greatly serve mankind is one of the wonders of capitalism.
When the costs and inconveniences of alternative energy sources fall below those of current sources the world will embrace the former.
Prop 87's "[G]rants and loans" will be doled out in return for political favors to patrons whose ideas are unworthy of private sector capital and will continue to be lavished even when such ideas prove to be duds. That is how Government works. When it is not your money the fact that is is being pissed down a rathole is of no concern to you.
The lip biter has at various times made a living off the taxpayers, donors to his insipid foundation and initiative and foreigners willing to pay a hefty fee to hear him bash America. Never has he been involved in an enterprise where supply, demand and profit were the primary considerations.
Perhaps the fellow we are constantly told is so much smarter than the rest of us should get an education in basic economics.
We suggest a paper route.
posted by Mr. Buzzcut at 5:20 PM
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