Monday, August 04, 2008

Windfall Profits Tax:It's What They Do in Venezuela

In other words, a windfall is nothing more than a profit earned by a business that some politician dislikes. And a tax on that profit is merely a form of politically motivated expropriation. It's what politicians do in Venezuela, not in a free country.

~WSJ Editorial

MP: Just wondering about Bill Clinton's $31 million in speaking fees between 2001 and 2005, wasn't that a "windfall"? See chart above (click to enlarge) of the $7.5 million in Clinton's fees in 2005 alone.

5 Comments:

At 8/04/2008 4:51 PM, Blogger Marko said...

Aren't all corporate taxes "windfall" taxes, in that they only apply if the corporation makes a profit? No wait, corporations pay taxes in many cases even if they don't make a profit. I am confused.

Why do we tax corporations again? I thought corporations were made up of individuals that already pay taxes on every penny the corporation makes. Isn't that double taxing? Would that make windfall taxes triple taxing?

No more corporate taxes!

 
At 8/04/2008 5:55 PM, Anonymous bob wright said...

Marko,

And the good news is you get to pay taxes on what you managed to keep when you die.

Quadruple taxes.

 
At 8/04/2008 9:44 PM, Blogger LibFree said...

I bet Obama's in favor of taxing the Clinton's windfall profits...if it wouldn't tick off potential Democratic voters.

 
At 8/04/2008 10:41 PM, Anonymous mandible claw said...

I thought corporations were made up of individuals that already pay taxes on every penny the corporation makes.

Yeah.. but.. um.. they're like these faceless, anonymous entities, man, and they like enslave and exploit the workers for profits and greed and stuff..

/moonbat brain-melt off

 
At 8/05/2008 8:58 AM, Anonymous QT said...

MP,

Thank you for posting this article. One needs to pay close attention to phrases like "reasonable profit".

It is difficult to keep track of the latest twists in Obama's positions. See here and here.

The latest "nuance" is on offshore drilling where Senator Obama has done another 180...now he supported it.


http://jewishworldreview.com/cols/krauthammer070408.php3

 

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