Serfdom: We're on our way!

Why are Democrats like Senator Schumer insisting that Americans be put on the road to serfdom? Yesterday, comrade Schumer held a hearing to investigate if “Market concentration in the U.S. Petroleum Industry [is] harming consumers”. Instead of simply complaining, I will suggest topics for future Senate investigations.

“Does any legislator understand that it’s idiotic to accuse oil companies of inflating prices by under producing when you take away their incentive by dictating how fuels are produced?”

“An Investigation into how much worse off Americans are when government regulates?”

“Is economic freedom an outdated idea?”

“Why do we laugh at the founders principles?”

“Abandonment of Economics 101?”

“Demagoguery: the death of democracy?”

House Version

Here is a roundup of the bill that was passed in the house by Schumer’s comrades that was posted on Reason's blog, Hit & Run. It is so wonderful that congress is passing laws that create vague language that allow bureaucrats to control target companies and entire industries through fiat. Soon we will be able to break the hold of the bourgeoisie!

"Federal Price Gouging Prevention Act - Makes it unlawful for any person to sell crude oil, gasoline, natural gas, or petroleum distillates at a price that: (1) is unconscionably excessive; or (2) indicates the seller is taking unfair advantage unusual market conditions or the circumstances of an emergency to increase prices unreasonably.

Declares unlawful: (1) intentional reporting of false price information concerning wholesale prices of such products; and (2) market manipulation regarding the purchase or sale at wholesale of such products.

Empowers the Federal Trade Commission (FTC) and State Attorneys General to enforce this Act.

Sets forth civil and criminal penalties for violations of this Act.

Requires fines and penalties collected under this Act to be deposited in a separate fund in the treasury to be known as the Consumer Relief Trust Fund to provide assistance under the Low Income Home Energy Assistance Program (LIHEAP) administered by the Secretary of Health and Human Services."