Author: Rory B. Bellows
Rep. Steve Rothman (D-NJ) accused Republican Nominee John McCain of pushing a “gimmick” in the form of a summer gas tax holiday. Putting aside the fact that the correct rate for any tax is as close to zero as humanly possible, it’s time the Democrat party be called to account for their hypocrisy on this issue. Since the liberal media will not do this, the task is left to us.
Part of Democrat Party dogma on energy is the need for a windfall profit tax. Democrat Party Nominee Barack Obama has proposed a 20 percent tax on profits made on barrels of oil priced above $80. Bloomberg News estimates that this could be 3 times as costly as Hillary Clinton’s 50 billion dollar windfall profit tax scheme. And here I thought Lenin could be the ony one to the left of Hillary on taxes.
Windfall profit taxes are the lowest form of pandering, immoral and poor policy. This scheme preys on people’s anger about high prices at the pump. As with most populist proposals it is pure demagogery. Democrats get to say they are going to get those greedy SOB’s at the oil companies while doing nothing to provide relief at the pump. The “policy” is based on pure emotion and stoking resentment in order to trick people into voting for you.
Anyone who has taken even the most basic microeconomics courses knows that firms don’t pay these taxes. They merely pass the cost along to the consumer. Windfall profit taxes were tried during the Carter Administration and proved a dismal failure.
The government is singling out the oil industry as making too much money and taking their profits. This is a mafia shakedown racket. The government thinks oil companies are too successful and they want half their buisness. Not even Tony Soprano would be so forward. What other industry would the American public approve of government determining the proper profit level? Government picking winners and losers and setting the “reasonable” level of profit is immoral. It’s communism.
The gas tax holiday gives people back their money. It may not be a lot, but it’s more money then they had yesterday. What the Democrats object to is the fact that the money stays in the pockers of people who are free to spend it as they wish.
There are solutions to are current energy problems. However, they involve more domestic drilling, nuclear power and alternative fuel sources. Since environmentalists have hijacked our nation’s energy problem, domestic drilling and nuclear power are off the table. Debates on these issues are not even allowed.
Republicans need to stress these points on the campaign trail instead of cedeing the energy debate to the cap and trade and windfall profit tax crowd if they hope to avoid another wipeout at the polls in November. There are good, conservative, Republican solutions on energy issues and the GOP needs to go on the offense.