Posted on 03/24/2006 12:16:14 PM PST by paudio
The Legislature's key backer of the state gasoline price-cap law unexpectedly switched gears yesterday, advancing a proposal that would suspend the price controls.
The proposed suspension of the wholesale gas cap is moving in both chambers of the Legislature, but the changes adopted by Senate Consumer Protection Committee Ron Menor also include a "safeguard" that allows the caps to be reinstated if prices climb too high.
(Excerpt) Read more at starbulletin.com ...
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Tony D'Annunzio: Give me a coke.
Danny Noonan: One coke.
[gives Tony a bottle of Coke and 50 cents]
Tony D'Annunzio: Hey wait a minute. That's only 50 cents.
Danny Noonan: Yeah well Lou raised the price of coke. He's been losing at the track.
Tony D'Annunzio: Well I ain't paying no 50 cents for no coke.
Danny Noonan: Oh then you ain't getting no coke. Know what I'm talking about?
The effect of one party domination in the Hawaii state legislature is that legislators can pass legislation defying gravity, making water run uphill and defy every basic economic principle, etc, and continue to be re-elected without question. This is because everyone is affected by state laws and careers can be ruined or businesses be intimated if the wrong people are offended. There are more who have learned to vote themselves into the state treasury than otherwise.
Suspending the gas cap law, leaving Dimpcrap legislators the option to impose it again the next time they feel they don't get enough campaign contributions from oil companies, will not effect the free market economics to work.
Lesson for Hawaiian Politicians (and others as well)
1. The free market works
2. Just get out of the way
3. Repeat
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