WOW, these Democrats are truly nothing more than a bunch of Marxist loony birds! Personally, I think it is more appropriate for a board of average American citizens to be convened and give them power to control the salaries, benefits, and outside business and investment dealings of all U.S. senators and representatives. So, Kucinich ... what do you think about that idea, eh? B.
Dems propose 'Reasonable Profits Board' to regulate oil company profits
By Pete Kasperowicz - 01/19/12 10:20 AM ET
Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits.
The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.
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." It would set up a Reasonable Profits Board made up of three presidential nominees that will serve three-year terms. Unlike other bills setting up advisory boards, the Reasonable Profits Board would not be made up of any nominees from Congress.
The bill would also seem to exclude industry representatives from the board [Oh, no doubt ... they don't want anyone involved that actually knows anything whatsoever about the oil business, now do they? 
B.], as it says members "shall have no financial interests in any of the businesses for which reasonable profits are determined by the Board." [Yeah ... riiiiiiight! ROTFLMAO! Their leftist buddies in Congress and elsewhere will certainly be selling short on oil compaines right before this Marxist board takes actions to hurt the oil business, though ... you can bet on that! B.] ...
Remainder of article @ http://thehill.com/blogs/floor-action/house/205085-dems-propose-reasonable-profits-board-to-regulate-oil-company-profits
| 
