By Bill Tatro, Special for USDR
So the GOP wants to raise taxes on gasoline and my conservative columnist colleagues are all aghast. “Bad character, bad politics and bad policy” one proclaims. “A wet blanket proposal” another chides.
Really gentlemen? Are you actually surprised?
The tipoff should have come when in the Lame Duck Congress the President’s budget was approved by both Democrats and Republicans on the premise of never shutting down the Government again. Citibank was allowed to insert, verbatim, their position on the derivative market and our taxpayer responsibility in case they lose, not if they win.
The new Congress had its stellar debut with the extension of the Terrorism Risk Insurance Act, until the end of 2020, which was a government subsidation for big companies. Tucked in the Bill was the prohibition of regulators imposing margin requirements on non-financial users of derivatives. Another cut at Dodd-Frank.
Does it really matter who sits in the chairs of the House or Senate, parks in the reserved parking or eats in the Congressional dining room? In a very brief period of time both the old Congress and the new have shown their true colors. The basic philosophy of ALL these people is the same. Keynesianism is alive and well.
The Federal Reserve will continue to run rampant as our elected officials, not having a grasp of history, can see no alternative. Fiat currency will rule the day since no politician or mainstream media really understands what the Gold standard is all about?
A search for money will lead to bail-ins, retirement plan seizures, increased taxes and anything else that can lead to government appropriation.
Militarily we will continue to expand until the final Armageddon and single soldiers are not relevant.
So as the New Year begins the Congress guts Dodd-Frank, suggests increases in oil taxes, sends more troops to the so-called hotspots (most of which we’ve created) and puts forward the two presidential front-runners named Clinton and Bush.
Can my colleagues be so naive as to believe that anything will change when the basic philosophy remains the same?
We’re all HOPEful that with the CHANGE from the November election things would be different and better.
It seems to me, however, we went through that hope and change thing once before.