When I hear the term Windfall Profits Tax, it conjures up memories of gas rationing, long lines at the gas pumps, double digit inflation, double digit unemployment... You know, the Carter years.
Amazingly, when everyone is squawking about high gasoline prices, Washington Democrats whip out the Windfall Profits Tax card once again. "Let's punish the greedy oil companies and make them give back our money" they say. But who do they think will pay this tax? The greedy oil companies? Let's get serious. The only ones who pay taxes are consumers. If we think gas prices are high now, wait until the greedy oil companies pass along the Windfall Profits Tax congress slaps on them.
Let's see... how much should the oil companies be charged? 10 cents a gallon? 50 cents a gallon? It all depends on how much more we want to pay. I guess some Democrats don't think we pay enough.
Don't expect brilliance when it comes to drilling domestic oil wells, either. We must be vigilant protecting every vast, remote wasteland environmentalists want shielded from man's footprints no matter what the cost. And so we'll continue to pay...and pay...and pay...