An aide on President-elect Obama's transition team said that Obama is no longer considering a windfall tax because oil has dropped below $80/barrel.
Posted by johncapello • Read more • Permalink
“...a windfall profits tax really is - a safety valve regulation against profiteering, and one that can raise needed revenues when profiteering occurs. If there is supposedly no profiteering occurring, then what's the supposed harm?”
“The judgment to withdraw the concept of a windfall profits tax is an important recognition that developing America's oil and natural gas would be seriously damaged by such a tax policy”
“Obama declared...$80 per barrel...was the threshold price for applying a windfall profit tax. How [he] came up with this figure is a mystery, and it demonstrates not only the foolishness of setting arbitrary price triggers but also the unfairness of targeting one industry for additional taxation...”
“A windfall profits tax is bad policy at any price...[this is] a heartening development -- both for consumers and an economy struggling to claw its way out of recession.”
“Of course, no matter what the price of oil, a windfall profits tax is a terrible idea so the President-elect should not have waited until the price of oil fell before making the decision to ditch the tax.”
You must be logged in to add quotes. You can:
Quotd is a collaborative news site where readers ask questions and break stories about the most important issues of the day.
Then readers use our quoting tools to find quotes which provide answers or insights.
Copyright © 2009 Quotd, Inc. All rights reserved.
About • Privacy Policy • Terms of Service • Contact Us