The bill would also seem to exclude industry representatives from the board, as it says members "shall have no financial interests in any of the businesses for which reasonable profits are determined by the Board."
According to the bill, a windfall tax of 50 percent would be applied when the sale of oil or gas leads to a profit of between 100 percent and 102 percent of a reasonable profit. The windfall tax would jump to 75 percent when the profit is between 102 and 105 percent of a reasonable profit, and above that, the windfall tax would be 100 percent. The bill also specifies that the oil-and-gas companies, as the seller, would have to pay this tax.
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CJ, you and I both know that any windfall tax is not paid by the gas/oil companies.
It is passed onto the customers.
That has us paying again and again.
WHAT HAPPENED TO FREE MARKETS?
GOVERNMENT-CONTROLLED SOCIETY - Ultimately, we all pay.
This guy has got to gooooooooooooooooo..............
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