The Hill: Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a “Reasonable Profits Board” to control gas profits.
The Democrats, worried about higher gas prices, want to set up a board that would apply a “windfall profit tax” as high as 100 percent on the sale of oil and gas, according to their legislation.
…The Gas Price Spike Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100 percent on all surplus earnings exceeding “a reasonable profit.” It would set up a Reasonable Profits Board made up of three presidential nominees that will serve three-year terms.
And here directly from the proposed bill:
(4) REASONABLE PROFIT.—The term ‘reasonable profit’ means the amount determined by the Reasonable Profits Board to be a reasonable profit on the sale.
Posted in Uncategorized
-
This reminds me of a college that will remain unnamed that oversees a department that will be unnamed that has a policy that any increases in revenues (student credit hours) in excess of 10% in a given year will be held centrally to subsidize departments’ whose revenue falls by more than 10%.
So the incentive is “Try harder…but not too much harder or we’ll make sure your inefficient competitors have a chance to catch up.” -
Haha. This is awesome!
-
Equity!
-
How about reasonably retarded (no offense to people who actually suffer from this medical condition)
-
John: Dude…
Everybody else: How about just ending subsidies, and see what happens?
Leave a Reply