Finally, in a year of bailouts and government nannyism, we get one small win for the free market system.
You remember that, of course, it was what built this country into greatness and it was based on competition, capitalism and individual freedoms.
So, today, we celebrate this week's decision by state Attorney General J.B. Van Hollen that the state won't appeal a federal court decision that ruled Wisconsin's minimum markup law unconstitutional.
At least in regards to gasoline pricing.
Finally, after 70 years, Wisconsin will be rid of this nonsense law that required gas stations to "mark up" gasoline prices by at least six percent over what they paid or 9.18 percent more than the average wholesale price of gas, whichever was greater.
This was state law. Approved more than 70 years ago as a protectionist measure to save mom and pop gas stations from being forced out of business by the predatory pricing of large corporations.
Cue the Jaws theme and Wal-Mart bouncing smiley face.
Actually, we haven't seen gas pumps in front of Wal-Mart here, but if there is a profit to be made and a cheap price to offer consumers, we wouldn't be surprised to see them shortly.
And that's good.
Wisconsin was one of only two states to have a minimum markup law and it has aggravated residents for years. In times of high gas prices (like this past summer) the law was estimated to have cost consumers as much as 30 cents on a gallon of gas.
That, of course, was an aberration. But it was not unusual for the state to go after gas stations like the BP Station in Merrill when they violated the markup law by doing something outrageous - like offering senior citizens a two cents per gallon discount.
Finally, in February, a federal judge ruled Wisconsin's minimum markup law unconstitutional - it is a violation of United States trade laws.
Van Hollen essentially put the nail in the coffin this week by refusing to appeal.
So seniors can get their two cents off a gallon in Merrill. Those mega-mega distributors are still held in check by Wisconsin's prohibition against selling below cost.
But this is just a consumer victory at the gas pumps. Now the Legislature should read the tea leaves and revoke the minimum markup law in other areas - including sales of alcohol, cigarettes and prescription drugs.
Our faith is in the free market, not in those who would skew the playing field.
Posted in Editorial on Wednesday, March 11, 2009 12:00 am Updated: 5:07 pm.
© Copyright 2010, JournalTimes.com, 212 Fourth St. Racine, WI | Terms of Service and Privacy Policy