Corporations enjoy best of both sides
In her recent Letter to the Editor entitled, “Obama’s oil company plan a bad idea,” the writer criticized the Obama administration for its intention to close corporate loopholes currently enjoyed by the oil and gas industry. Her argument was that by doing so, pump prices were sure to rise thereby discouraging tourism.
This is precisely the sort of ransom note the most profitable industry in human history might have written themselves. For too long our most incredibly (dare I say obscenely) profitable corporations have enjoyed the best of both sides of the classic economic debate — socialism vs. capitalism.
Even as they rake in unprecedented treasure in our global market economy, they suck greedily from the public treasury by propagating the misguided notion that without that extra public funding, they would surely have to raise their prices.
At some point, an enlightened public must recoil at this sort of extortion ... and the sooner the better.