Governor Ed Rendell Wants To Tax You, Your 401K and Your Investments

J.J. Jackson* | April 21, 2007

Filed Under Liberals, Taxes and Taxation

Ok, granted that is not how Fast Eddie put it. No. Ed Rendell called it taxing the “windfall” profits of the oil companies. Further, our illustrious leader here in Pennsylvania wants to pass a second law making it illegal to pass this tax on to the consumers.

Now I know that most readers here will immediately see how idiotic this is. But I also know there are some of you that just don’t get it.

“Windfall” profits is a nebulous and undefined term. What is a “windfall” profit? 10%? Because that is about what the oil companies are making. And that is no where near as much as what other companies (like Microsoft for example) make per dollar. Do you hear Ed Rendell calling for a “windfall” profit tax on Microsoft?

Not yet. But I am sure that once he slays the boogeyman of “Big Oil” he’ll get right on that.

The only reason the oil companies make so much money off that measly 10% is because they sell so much of their product. Everything from gasoline to plastics is made from the petroleum that they extract from the ground.

A tax on the profits of these companies is, no matter what, a tax on the people that are invested in not just these companies but all the companies that work in concert with them. Got a 401k or any investment that has oil stocks? You probably do. That means you will receive lower dividends which left wingers like Eddie Rendell love. Because the last thing they want you to do is accumulate wealth and not need their benevolent programs to help support you in retirement.

Or maybe you are in a retirement plan that invests in other industries that sell products to and support the oil companies? Industries like steel mills that make the pipes or maybe well companies that drill the holes? Less money for the oil companies means that again you will make less money as these companies sell fewer products and provide fewer services to “Big Oil”.

And what is it with this smoke and mirrors about not letting the cost be passed on? Is this the way that Fast Eddie is going to try to convince people that it is a good idea? What are the hapless dupes that believe this tripe going to say? “YEAH! The dictate of our leaders will make it true!”

Sure, and they would believe that if Ed Rendell decreed that the sky was purple with pink polka-dots it was true as well.

Does he even think this is possible? Where does he think the oil companies get their money from? A magic money tree?

NO! They get it from selling products to consumers! Ed Rendell you moron! Every cost you slap on industry must by the very nature of non-Stalinist economics be passed on to the end user.

You’re still nothing other than a gangster thug Ed. And you are a nitwit to boot.

How many more times are people going to keep voting for left wingers like this who don’t understand the way business and industry works? How much longer are we going to keep putting people with un-American philosophies into power not just here in the Keystone State, but all across America?

Contributor's website: http://www.libertyreborn.com

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