by AWR Hawkins
19 Jan 2014
During George W. Bush’s presidency, Democrat Senators pushed a WPT because of the profits of ExxonMobil, Chevron, British Petroleum, and others. Then they realized that those profits had made oil company stocks a staple in 401Ks, mutual funds, and various retirement portfolios.
Talk of a WPT faded away.
During the most recent two years of Barack Obama’s presidency, gun control has been the cause Democrat Senators have rallied around – only to find a similar situation: stocks from gun companies like Sturm, Ruger & Co., and Smith & Wesson are increasingly held by mutual funds, chosen as stocks in retirement plans, and held in other investment configurations.
Because of this, gun control is starting to look a lot like the WPT.
In fact, on December 13th Breitbart News reported that The Wall Street Journal’s Market Watch proclaimed gun control “dead as an issue” because of the profits of gun stocks and the way those stocks had gained popularity on Wall Street.
Think about it. Oil company profits did not go away; rather they were sanctified in the eyes of the public as they turned into something future retirees were counting on for security. Demonizing oil companies was no longer politically smart.