Dems Propose Official End To Free Market Capitalism
At least on one industry.
The Gas Price Spike Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100 percent on all surplus earnings exceeding “a reasonable profit.”
The oil and gas industry ranks 9th among most profitable industries with a 10.2% profit margin. In other words, they make a profit of 10 cents for every dollar. Far less than some industries that predominantly donate to Democrats.
- Six House Dems Would Confiscate Oil Company Profits (mb50.wordpress.com)
- House Dems Propose Board to Regulate Oil Company Profits (mikesright.wordpress.com)
Posted on January 22, 2012, in Big Government, Blog, Politics and tagged energy, Gas Price Spike Act, Oil and Gas, Petroleum industry, Profit margin, Windfall tax. Bookmark the permalink. Comments Off on Dems Propose Official End To Free Market Capitalism.