Rand looks more and more like a prophetess and an overly-optimistic one at that: a group of House Democrats -- including, to no surprise, smilin' Dennis Kuccinch -- have proposed setting up a "Reasonable Profits Board" for the oil industry, with insane taxes on any profits the board deems too much.
Yeah, there's some economic stimulus; I believe it was Dr. Johnson (Samuel, that is, not the plastics magnate) who described this kind of goad best: "Depend upon it, sir, when a man knows he is to be hanged in a fortnight, it concentrates his mind wonderfully."
Some of us read 'Atlas Shrugged' as a cautionary tale.
ReplyDeleteOthers read it as a set of operating instructions to a major criminal undertaking.
Sad but true!
ReplyDeleteSo, the usual suspects have a precise legal definition of "reasonable"? Thought so.
ReplyDeleteIn all fairness, Uncle Sugar has been in the business of "regulating" profits for years: why else the tax brackets? "YOU have more money than other people and that ain't FAAIIIIRRRRR so we're gonna take it away from you!!!"
ReplyDeleteAnd quite a few people seem to be totally fine with this.
Wait--what profits? No Gulf drilling, no Keystone pipeline -- no oil to profit off of.
ReplyDeleteThe only profits are going to Saudi oil ticks. Why not tax them?
This is why I generally vote republican. I don't agree with the repubs all that much more than I agree with the democrats; however, at least I'm fairly sure that repubs won't pull this kind of shit.
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Read about this somewhere else yesterday and the spot on snark regarding:
ReplyDelete"Avg. state tax per gallon 48%
Fed. tax per gallon 16%
oil company profit per gallon 8%
Remind me again who the looters are"
Dennis the Menace, due to the Buckeye State having to Downsize because of the latest Census ("Last One leaving the State Turn off the Light!") actually has to face off against another long Term DemaCommie Congress Critter, Marcy Kaptur of Toledo in the new combined District. It will run from the Michigan Border all the way to West Cleveland (Camp Perry being about the Halfway point). So Dennis no longer has the Anointment Clout that he used to have from the Cleveland-based UAW Voters.
ReplyDeleteSo he's once again promising Free Cheese, even though he has no hope of Delivering any. And Rumor Control is, that he should have bought that House in Washington State, because Kaptur is MUCH more Friendly to Barack, and the DNC would like to do some House Cleaning. So it's possible that this will be Dennis's Last Go Round.
We'll know more after the March 6th Primary, so stay tuned.
Looks like the USG and governments of the various States should be the subject, not the instigator, of that "Reasonable Profits Board."
ReplyDeletewv: flush. Excellent idea.
Ayn Rand deemed verboten by the "Reasonable Prophets Board". From now on, she's not to be listened to, d'ya hear?
ReplyDeleteYou got to hand it to Dennis; he is constant as the northern star.
ReplyDeleteI'd like to see a Kucinich v. Paul debate. Just because.