The Observation Deck

Is there anyone else out there who's losing sleep over this proposed tax on "excessive profits" by the oil companies?

I e-mailed Kucinich, but I'll extend my inquiry here...

can someone please provide me with a historical example of this type of action producing positive results?

It scares me to think that there might actually be people out there that think that the government having a "fair profits board" is a good idea.

I'm confused as to how something like this helps either supply or demand. Or are those factors no longer integral in a global economy?

I'd also like to know: what's to prevent the oil companies from passing this additional cost right back to the consumer?

I'd love to do some research on this topic. Honestly. Can anyone help me with some sources? I'm looking for a few new books to add to the reading stack.

http://www.investopedia.com/terms/w/windfalltax.asp

Windfall Tax ? It's been around along time.

There seems to be divided opinion on the merits

We have evolved from a republic to a democracy to a kleptocracy. The statement no mans life or property is safe while the legislature is in session is more true now than ever before.

The oil companies pay more in taxes than they make in profits. The shareholders earn less from their investment than various levels of government:

http://www.taxfoundation.org/news/show/1168.html

The idea of a windfall profits tax comes periously close to a bill of attainder:

http://en.wikipedia.org/wiki/Bill_of_attainder

What if the City of Lakewood decided to tax some people at a higher rate not because of how much they made but because of who they are? You are a lawyer? Your income tax rate is 10%. You work for the City? OK the arbitration awarded you x dollars but since you work for the City your tax rate is 20%. Why not?

How about microsoft? What about small business owners? What about mortgage companies? What about you?

How about Bill and Hilliary? They made alot of money over the last few years.

Its fun to join this "windfall" profit tax bandwagon but what happens when they come after you?

I'll mangle this quote but here it is:

"So, would you pull down all the laws of the country to get what you call justice"

"Yes, to pull down the devil!"

"Really? And when you have pulled down all the laws and nothing stands beween you and the devil and the devil turns round on you, what then?"

Bill--- Sounds like you're describing an MO of bankruptcy--- kleptocracy