Thursday, February 16, 2012

Another added to the list of democrats needing a doctor

How could I forget Dennis Kucinich as one of the Democrats who has gone off the rails?

A "Reasonable Profits Board?" But then that's not so unusual given ACA calls for MLR (Medical Loss Ratios) of 10-15% for insurance companies. Correct Eli, I regard the 10-15% MLR equally as wrong-headed as a reasonable profits board.

Before you take umbrage and point out Nixon instituted wage and price controls and gasoline rationing, I will admit Nixon was a Republican and those ideas were as equally dumb.


PS. The other five Democrats are John Conyers, Jr. (D-MI), Bob Filner (D-CA), Marcia Fudge (D-OH), Jim Langevin (D-RI), and Lynn Woolsey (D-CA). They too can join the shameful list of dumb politicians.

Not from Atlas Shrugged

The Hill: Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits.

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 Gas Price Spike Act, H.R. 3784, 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.

And here directly from the proposed bill:

(4) REASONABLE PROFIT.—The term 'reasonable profit' means the amount determined by the Reasonable Profits Board to be a reasonable profit on the sale.

Addendum: Here is Bryan Caplan's classic, Atlas Shrugged and Public Choice: The Obvious Parallels and here is the award-winning Atlas Shrugged app.

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