Windfall Profits Tax Stalls In Senate

J.J. Jackson* | June 11, 2008

Here come the liberals! They are now pushing forward with their plans to levy a new tax on all Americans. Sure, they claim that it will be a “windfall profits” tax on Big Oil but we all know taxes, like shit, flows down hill and that the cost will be born by the consumer and the investors. In case you don’t know whether or not you are one of their investors, take a look at your pension plan or 401k and you might be surprised.

WASHINGTON — A Democratic proposal to impose heavier taxes on big oil companies stalled in the Senate on Tuesday as Republicans and Democrats offered different ideas on how to deal with soaring energy costs.

A bill, which would have rolled back some $17 billion in tax breaks and pressured major oil companies to invest in new energy sources by hitting them with a windfall-profits tax if they did not, failed to get enough votes to move forward. Fifty-one senators voted to bring the measure up for consideration, nine short of the number needed under Senate rules. Forty-three senators, most of them Republicans, voted “no.”

…

The votes were against a backdrop of $4-a-gallon gasoline and oil prices that have gone over $139 a barrel just at the start of the summer vacation season.

While America burns, the liberals fiddle (with themselves). Problem here is that 51 Senators actually voted to bring the damn thing up for a vote!

“I remember when gas was about 40 cents,” Senator Jon Tester, a Montana Democrat whose constituents often have to drive long distances, lamented before the votes.

Hey, I remember when comic books were only $0.75 each too. Now they are what? I don’t know since it has been years since I bought one, but some were pushing $3.00! OMG! “PRICE GOUGING!” We need a windfall profits tax on the comic book industry now!

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