Wednesday, June 11, 2008

Dems Solution to Gas Prices

So, the idiots in the Senate, led by the more idiotic Democrats, thinks the solution to the gas problem is to implement some form of windfall profits tax. The very flawed theory is that the oil companies would reduce the price to avoid the tax.

So, congress wants to lower tax revenues into the the Treasury in order to bring down gas prices? Wouldn't it be easier to get rid of the federal tax on gas? After all, the oil companies are paying federal income taxes on these "obscene" profits with Exxon Mobile have a 42% effective tax rate in the quarter ended 3/31/08.

Why do people think the government can solve economic problems? It never has and it never will. The only thing you end up with when they attempt to do do are the unintended negative consequences to their actions.

Perhaps one day we'll figure it out and get them out of our lives in general. Let's hope so before we fall.

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