I love the heading the Eagle editors gave to the following letter (“Price Hikes Not Always Gouging“)
To the Editor
The Berkshire Eagle
75 South Church Street
Pittsfield, MA 01201
Mayor Barrett correctly observes that soon after gasoline’s wholesale prices rise, retailers raise prices at the pump, even though all of the gasoline in their tanks was already bought at lower prices. The Mayor calls this practice “gouging” and wants government to investigate and more.
I cannot help but wonder if Mr. Barrett owns a home. If so, I would like to know if he would like to be investigated for gouging if he sold his home for a price higher than the one he paid for it? After all, families spend far more on homes than they ever do for gasoline. And does Mr. Barrett own stocks, bonds or mutual funds? Old baseball cards? Vintage cars? Shall we investigate profitable resales of these too?