Showing posts with label economic ignorance. Show all posts
Showing posts with label economic ignorance. Show all posts

Saturday, March 29, 2008

Election Year




Just a few days ago your humble scribbler received an astonishing bit of "junk mail". On the trek from the mail box to the incoming bin via the trash container I noted a missive from the Internal Revenue Service emblazoned with words to the effect that the communication should not be thrown away as it contained notice of a "payment". As I annually receive and respond to a nasty letter from the IRS questioning why I have filed no tax return and threatening me with dire consequences, this bit of news tweaked the curiosity button. The last time I filed an income tax return was in 1981 shortly after retiring on a supposed "tax free" service connected disability due to a spinal injury suffered on the job. Since that time I have had no taxable income sufficient to trigger the filing requirement but each and every year I receive the identical threatening official letter which requires the tedious recital of the same hackneyed response.

The recent letter however, contained a filing form and the notification that the "government" has decided to engage in an economic "stimulus" by sending out "free" cash to the tune of $300.00 per qualifying individual. Let's see if I understand this correctly. We will all be paid $300.00 for producing absolutely no goods or services anyone would be willing to exchange legal tender for (except the paper shuffling government bureaucrats).

Wow! This boggles the mind. It is amazing to perceive the degree if economic ignorance rampant in a society subjected to government indoctrination education for several decades. It appears that while the schools have been drilling into the heads of their captive charges the necessity of recycling and hugging trees as well as writing to their legislators on the need to oppose the development of energy sources, absolutely NO economic basics have been discussed.

Meanwhile, the cost of energy sources which literally drive our lives are now verging on the prohibitive. Crude oil (reserves of which are proven but legally cannot be tapped) has now exceeded $105.00/barrel. One of the results of this of course is the run-up in the cost of motor fuel i.e. diesel, which has increased in price over $.50/gallon in the last 2 months.

The owners of the trucks which move virtually every item which we consume are being squeezed out of business. Recently, one long haul independent trucker hauling a 41,000 lb. load of freight from Florida to Quebec stopped in North Carolina to refill his fuel tanks at a cost of $960.00. In order to remain in business the ordinary citizen truckers must pass along these increased costs to the ultimate consumers. The alternative is of course, the disappearance of the products we need from the shelves with the result that the remaining items' prices are driven up beyond what those of modest means can pay. Duh!

What's that? Mail out more pieces of paper with dollar signs and numbers on them? Yeah, that'll fix it.