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CRACK DOWN ON OIL PROFITEERS: CUT TAXES!

September 18, 2006

When oil profits raced up last year, politicians wasted no time coming out for a tax on "windfall profits." None of these proposals provided for a credit for "sub-par profits" if oil prices declined.

Give the politicians credit for chutzpah. Their complaints about oil company profits are like a crack dealer complaining about how much the guys from Columbia rake off. The Tax Policy Blog has an eye-opening post on just how much of your gas money goes to the government.

The post also has an excellent collection of links on the whole "windfall profits" issue.

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