Rising inflation is really starting to take its toll on the American people. With inflation nearing 40-year highs, Trevor Noah said it best during the White House Correspondents dinner a few weeks ago… “ever since you’ve [Biden] come into office, things are really looking up. Gas is up. Rent is up. Food is up. Everything.”
Yes, Noah was joking, but it’s really no laughing matter as gas prices again across the United States hit all-time highs this week.
Don’t worry though, the Democrats have a card up their sleeve that’s gonna fix all of our inflationary problems with the snap of a bill… or not.
Queue the Consumer Fuel Price Gouging Prevention Act brought to you by House Democrats. The only problem with the bill is, well, this isn’t China. Allow me to explain.
Pelosi and the Democrats believe that in order to control inflation, they can start controlling prices.
“Legislation for first House Democrats led by Congresswoman Schreier and Congresswoman Porter, introduced the consumer fuel price gouging Prevention Act for families struggling to pay higher prices at the pump. Oil and gas companies are recording record profits, with seven largest oil companies announcing buybacks that we see gas prices rise. And when the cost of oil goes, that drops, oil prices drop and price gouging needs to be stopped” said House Speaker Nancy Pelosi during her weekly press conference last week.
Gee, why didn’t I think of that? Maybe because we live in a FREE MARKET?!
For generations, free-market economists believed the best way to find fair prices is to allow the market to decide what they’re willing to pay for a product. So why the sudden change of heart? Because this is now the world we live in. Can’t afford it? The Democrats will now dictate how much you should have to pay for it – but if you want to stay lazy for the rest of your life in order to get cheap stuff and free handouts, make sure you keep voting for them. God forbid we get back to the “American Dream”.
Controlling prices in a free market is a dangerous game that could lead to the Democrats deciding to regulate any industry at any given point simply because their voters don’t want to pay too much for a product.
President Biden recently spoke about price caps for oil and windfall profits on oil companies. Can you imagine if we just started outlawing higher prices on everything? Why don’t we just start making it illegal to raise prices anywhere and everywhere?!
The problem with inflation is you can’t hide from it, and controlling price points in a free market will never work. Evidence of this can be found in communist countries like China where the market has been stagnant for decades. It’s a dangerous game to play, and once you start trying to manipulate a market instead of fixing the root of the problem, not only are you prolonging the inevitable in the long run, but you’re destroying the market in the short term.
The bill is expected to be on the floor in the coming week. Needless to say, I don’t think it’ll ever pass.