RSSThat’s Our Bobby!
J.J. Jackson | May 25, 2007
Senator Bobby Casey (our little D here in PA) has his own solution for dealing with the EVIL, price gouging oil companies! Ok, so this is about a month old, but I missed it the first time around so I’m talking about it now.
Senator Proposes New Oil Tax
‘Excess’ Profits Of Oil Companies Would Be Taxed
WASHINGTON — A Pennsylvania senator said it’s time for big oil companies to be taxed on “excess” profits to help poor people pay for gasoline.Sen. Robert Casey, D-Pa., said he would introduce legislation to place a 50 percent tax on major oil companies’ profits from crude oil priced at more than $50 per barrel, where it has been trading for most of the past two years.The bill, similar to others proposed by members of Congress in recent years, would eliminate oil industry tax breaks and raise the royalties companies pay to the government for offshore drilling leases.
All you folks with 401Ks, IRAs, union pensions, and so on better get on the phone and tell Bobby to stop screwing with your retirement accounts and get a little bit of a clue about how the economy works.
How is it that we have two of the biggest dullards in the Senator of the United States right here from Pennsylvania?
I bring this up because the House a few days ago just passed legislation to go after people they “feel” are making too much money off oil and gasoline. How Stalinist and anti free-markets of them.
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