Han wrote:
"J. Clarke" wrote in
:

Han wrote:
Mark & Juanita wrote in
:

Han wrote:

snip

I agree about the unintended consequences. The wealthy will find
a
way. That does not make it right. Trying to save some oil was not
something that in hindsight the American public wanted. Now we
have
$90/barrel oil and .

The rest of the world also has $90/barrel oil so I don't see what
that has to do with "a raidly devaluing dollar, with vastly
increased
inflation just around the corner"

Do I really need to explain it? The value of the dollar vs the euro
started as about 1:1. The euro sank at first to about US$0.87.
Recently, it has risen to US$1.47. These differences in exchange
rate
approach a factor of 2. Europe has never been particularly cheap
(except maybe 40 years ago), and now things like simple restaurants
are just plain expensive. The exchange rate is 1 thing.

What does the exchange rate have to do with the price of oil?

While for us oil has gone up from $30/barrel, for Europeans it has
gone up less, taking the exchange rates into account.

Are you saying that 30 years ago OPEC charged Europe a different price
from the US? I'd like to see your documentation on that.

(Indeed, I
still do not understand why European rates for gasoline are close to
3 times what we pay in New Jersey).

It's called "tax", something with which you purport to be familiar.

The oil exporters have indeed seen that their revenues have
increased
because of their pricing, but they aren't quite getting the bang for
those bucks (US$) anymore if they buy European goods, so they raise
the price some more, or even worse will soon consider pricing
inother
currencies.

If they price in dollars or price in Euros the price is the same, it's
only the number that differs. In any case, I fail to see how oil
being priced in dollars benefits the US.

If our country's products are going to be cheap compared to European
products, we gain an advantage - our industries will profit from
increased business. But that will drive up prices here in general.

So we're going to be selling more and making more money and that's
going to drive up prices? Why would that be?

This class-envy stuff is going to kill the economy. We are
already
at a point where 10% of wage earners are paying 60% of all
income
taxes but only earn 42% of all income. Now, what is this about
not
paying their "fair share"?

Huh? If someone earns $10/hr, should he pay the same percentage
of
income in taxes as someone earning $100/hr? Or $1000/hr? Would
that
be fair?

Any system based in "give us money or we will confiscate your goods
and property and arrest you" is unfair. There is no such thing as
a
"fair" tax system. A single rate system at least has the benefit
of
being _simple_.

Yes it would be simple, but fair? There has to be a better
compromise
somewhere. I doubt that the politicians and accountants/lawyers
will
go for it, though. Rhetoric sells votes much better.

The current system is an attempt at that "better compromise". It's
easy to blame it all on the accountants and lawyers but most of the
changes in the tax code have come about because some group or other
made a good case that they were needed to make the code "fair", not
becuase lawyers and accountants lobbied for a windfall profit.

Congress is way out of line with special privileges, and the IRS
with their
What are you defining as special privileges?

I thought there were a few instances of Congress and the IRS
giving
some very narrowly delineated groups of people or businesses very
big
breaks on their taxes.

Sometimes very narrowly delineated groups of people or businesses
have special concerns that need to be addressed if the system is to
appear to be "fair".

Yes, indeed. That's where some kinds of compromise between flat
rate
and both extra taxes on some things and tax exemptions on others do
indeed come in. But now, that system has degenerated into giving
grants and or tax breaks to special interests. In other words, the
enhancement of the economy for certain sectors has gone from help
for
the poor industry to a give-away. I think the oil industry bonuses
and royalty give-aways for some explorations/productions are an
example. With $90/barrel oil, there should be no need to help the
oil companies get richer.

It seems to have escaped your notice that that $90 is what the oil
companies _pay_ for that oil.

--
--
--John
to email, dial "usenet" and validate
(was jclarke at eye bee em dot net)