Wednesday, November 09, 2005
Mr. Answer Also Provides Occasional Translation Services
From an article in the Washington Post:
Top executives of big oil companies on Wednesday defended surging profits at a time of high prices, and warned a Senate hearing that a windfall profit tax could stymie investment and lead prices still higher.
Translation:
Top executives of big oil companies on Wednesday were forced to apologize for running their businesses in a responsible and profitable manner when consumers became inexplicably cranky about their own purchasing habits, leaving Big Government Politicians happy visions balancing budgets with extra-special Big Government taxes on energy companies.
Of course, between tax breaks, incentives, restrictive policies, and the threat of extra taxes to help balance out energy company profits, I doubt that anyone can figure out how profitable the oil industry would be without the government’s meddling. The dollar cost of a barrel of oil is just an illusion when considering the actual price paid at the end of the day.
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Comments & Trackbacks
I’m with you 100% on this one.
I figure, they should tax Hollywood movies for their excess profits (and not provide tax breaks on the ones that bomb, just like the oil industry), and use that money to reduce gasoline prices.
Oh, yeah: and also impose a maximum hourly wage for Hollywood stars at, say, $25/hour they actually work on set. Which would increase the profit to the Film Studios, which would in turn allow us to extract more taxes from them and turn it over to the poor Starbucks workers who can’t afford brand-name Birkenstocks.
I was going to comment on this topic as well, particularly in the irony of Congressional members, who take by force of law billions of dollars from the pockets of Americans, much of it for their own little pork projects, complaining about companies that make money through the market.
Mr. Answer should have a sex column in here somewhere.
Heh.