Professor Mark J. Perry's Blog for Economics and Finance
"Windfall," of course, is just another word for "undeserved," which is why windfall profits are defined as the profits earned by someone other than you. If we were honest with the people having their profits yanked away, we'd call it the "well-earned and richly deserved profits tax."
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.
4 Comments:
I find it difficult to reconcile the use of "windfall" as an adjective to profits, because it's utterly redundant when used by those who want such taxes. Generally, those who push for such taxes deem all profits as undeserved or immoral.
Right. Anti-business, anti-industry, anti-technology.
Since human life and well-being depends on those things, also anti-human.
Isn't a "windfall tax" a "windfall profit" for the government?
Just as well that nobody taxes the government's tax income.
rg
Oil company profits will be well earned and richly deserved the day that you or I are able to start an oil company in competition with the incumbents.
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