Sunday, April 30, 2006

I've written before that I don't like to see oil companies posting record profits with gas prices as they are, but this sure isn't the answer:

Senate Minority Whip Dick Durbin of Illinois echoed those calls on “Meet the Press,” warning that “if you do not tax these corporations ... they will continue to run up the profits to high heavens.”

I'm a believer that businesses don't pay taxes, they pass it on to the consumer. So taxing the oil companies will then lead to higher prices as the pump. Makes sense to me.

Interestingly, twice this week I heard on the radio talk-show circuit that maybe the government should hold back a little on the amount of $ per gallon of gas they take, up to a third of the price in some areas. But you'll never see that happen!

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