Professor Mark J. Perry's Blog for Economics and Finance
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.
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
3 Comments:
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.
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
Very good article!
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