Windfall profits tax simply a bad idea

Posted: Tuesday, June 24, 2008

Responding to the Outside editorial of June 13, I agree with the author that in addition to supply and demand, world events and United States foreign policy have a big impact on the cost of oil and ultimately, the price at the pump.

However, I want to focus on the calls for a "windfall profits tax" by Sen. Barack Obama and others in Congress as mentioned in the editorial.

This is a bad idea, plain and simple. It would only make things worse and increase the price while not addressing the root problems. I was glad to see Sens. Lisa Murkowski and Ted Stevens both voted against it. My hope is that Congress can stop focusing on harmful tax initiatives like this one and direct its efforts toward solutions that work.

Tom Boutin


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