The Latest Democrat Party Extortion Plot

The Democrat party’s plan to abolish the American oil and gas industry, as declared by Joe Biden in his debate with the president, fits in perfectly with the theme of a great book by the late Fred McChesney entitled Money for Nothing: Politicians, Rent Extraction, and Political Extortion (Harvard University Press, 1997).  The theme of the book is that much of what Congress does is one big extortion racket that in any single year is thousands of orders of magnitude bigger than anything the Mafia has done for its entire existence.  The game is played like this:  1) The government threatens onerous taxes, regulations, nationalization, or abolition, as is the case currently with the Democrats.  Such legislation is referred to on Capital Hill as “juicer bills” or “milker bills” as they juice or milk “campaign contributions” from corporations.  2) The incumbents then sit back and rake in millions from the targeted industry or group of industries.  3.  At some point, after “enough” loot has been extorted, the politicians say, “What were we thinking?!   This has all been one big mistake!  Of course we’re not going to ruin your industry.”  4.  They start all over again a year or two later with other industries.


11:43 am on October 24, 2020

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