Republicans in the Senate yesterday dropped their proposals to tax the oil industry, just days after coming up with the idea – and the reason for doing so was: hmmm, the oil industry and business leaders did not like it.
Even the centrepiece of legislation, the $100 rebate to taxpayers, was seen as getting a frosty reception, with both senior Republicans and members of the public “ridiculing” the idea.
Now the tax plan has been dropped, the only way to offer the rebate is to open up ANWR, the Arctic National Wildlife Refuge. Haven’t we heard that one before… Isn’t it time they came up with something new?
How about looking at their own political funding and giving all the oil money they have received since Bush was elected back to the public? Might come out at over $200 per person.
They probably dropped it because it was a dumb idea. And it would probably not stand a chance of the oil companies challenged it in court. Should the government impose a tax on the “Big Shoe” industry if it had windfall profits because the price of leather went up?
And you seem to forget the fact that if the government DID impose the tax, the oil companies would make up for it by adding it right back to the price. Oil prices would go up at the pumps.
Supply and demand, folks. If you don’t like the price of your gas, Spend $15 a week on a transit pass. If everyone did that, the price of oil would drop to less than half what it is now.