Thursday, June 12, 2008

S.3044 - Big Oil "Windfall Profit" Prevention

Here is the latest 'windfall profits' tax bill that the Senate tried to pass this Tuesday:

Not really suprisingly, neither Presidental candidate voted.

I shared my thoughts on this subject earlier this year on a similar House bill:

I am not necessarily against higher fuel taxes. I think that they could help continue to lower demand, especially if fuel prices begin to go down again. I would be all for it, if the added revenue was used to fund alternative energy projects and there were ways for small businesses/truckers/farmers to write off the added expense. That's a big if.

And in my opinion, anyone supporting these 'windfall' taxes are either severely misinformed or blatantly dishonest. It takes a suicidal political will to suggest adding to the Federal gasoline tax, but you can get any Joe-six-pack on board with 'sticking-it-to-the-evil-oil-companies'.