Wednesday, May 28, 2008

ECN 101: If You Tax Something, You Get Less of It

Leave it to the Democratic majority in Congress to fight rising gas prices and growing dependence on foreign oil by imposing a windfall-profits tax on U.S. petroleum companies, while refusing to let them tap America's vast oil and gas reserves in the Alaskan wilderness and offshore.

From my editorial in yesterday's Investor's Business Daily

3 Comments:

At 5/28/2008 9:53 AM, Anonymous Anonymous said...

I bet you're one of those guys who also thinks nationalized healthcare is a bad idea and that raising the capital gains tax rates won't boost revenues...

Please continue to lay waste to the various Boogeymen (Big Oil, Big Pharma, "The Rich" etc.) being foisted on the US public by the politicians. I'm sure it seems like spitting into the wind at times, but maybe it will lead to someone, somewhere, at some time, pulling their heads out of their _______es.

 
At 5/28/2008 10:51 AM, Anonymous bob wright said...

How is it that everyone complaining about high gas prices can see this simple relationship:

increased gas prices = people buy less gas [corollary: people buy more fuel efficient cars]

but they cannot see these relationships:

increased minimum wage = people buy less minimum wage labor

increased business taxes = less business

increased capital gains taxes = less capital

 
At 5/28/2008 11:27 AM, Anonymous Anonymous said...

Very good article!

 

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