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Originally Posted by scaeagles
I am against the minimum wage.
I also do well in terms of gas expenditures. I work from a home office, so no commute, and my wife teaches at a school only 2 miles from our house.
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Wiat until the price of every product you buy goes up because of increased fuel costs.
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Price controls are a bad thing. Period.
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A pure free market economy is a bad thing. Period. Gasoline, right now, is as close to a purely inelastic product there is. Oil companies can increase the prices through the roof and stil make a profit. People will buy it. Sure, you can choose to ride your bike to work, or move closer, or take public transportation...but companies can't choose not to ship their products. And that's what it comes down to. There will always be a market for gasoline at any price. Left to their own devices, oil companies can keep raising prices, and the demand will be there. All well and good, hooray free market. But this doesn't happen in a vacuum. It will have a disastrous impact on the entire economy. Every product is dependent on fuel prices. And there are no natrual checks on fuel prices in the market.