Saturday, November 5, 2011
Does anyone know anything about the effects of WINDFALL PROFIT TAX on the UNITED STATES?
Not the democrats. Jimmy Carter imposed the same tax in the 1980's which reduced investment in domestic oil production and increased the price at the pump, along with increasing our reliance on foreign oil. These windfall profit taxes failed to produce a fraction of what they were hoping for. I'm sure that most of you don't know that during this time we had to wait in long lines at gas stations, and that if our license plate ended in an even number, we could only get gas on even number calendar days, and the same for odd numbers. What if congress decides to put a windfall tax on other sectors of the economy, such as big pharmaceuticals, alcohol and tobacco producers, or even Internet service providers? All of these groups last year earned more for every dollar of sales, than " big oil " did.
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