Obama’s Justice Department Drunk with Power
In yet another appalling abuse of power, the Obama Justice Department has filed suit to enjoin the merger of Anheuser-Busch InBev and Grupo Modelo citing the reduction in number of beer choices for Americans that would occur as a result of the merger. Mind you, neither of the merging corporations are American — with crap like this, can you blame them?
Just look at how ludicrous this is. Even if AB completely shut down the Modelo brands altogether, the US would still have more than 2,000 breweries and probably 10,000 types of beer! Indeed, even if the merger caused some incremental (but more fairly characterized as imaginary) price increases, considering the taxes the federal and state governments already impose on beer, those increases are almost irrelevant. If the government were really worried about competition, it would reduce the outrageous $7/barrell federal excise tax.
I need a drink.