An amateurish attempt at explaining current events large and small.
Wednesday, December 03, 2008
Obama Backs Off Windfall Profits Tax
I think this is a good thing. A windfall profits tax would do little other than increase our consumption of foreign oil while having a negligible impact on overall consumption. If the end goal is to decrease consumption of fossil fuels the best means of achieving that goal is to tax the consumption of fossil fuels, not production.