Obama's Energy Windfall Profits Tax
Whoops. One of Obama's politically appealing ways to get elected was to propose a windfall tax on the energy companies. Apparently they were gouging, manipulating prices, etc. But I guess now with $44 oil these companies are no longer profiteering?
I guess they're not doing it anymore because the windfall tax is now off the table.
http://www.chron.com/disp/story.mpl/business/energy/6143060.html
It was a smart way to get votes, but it made no economic sense.
But don't worry - we'll still raise revenues by taxing the rich. Or will that get shelved too?




