Was State Tax On Oil Profits A Good Idea?

State lawmakers wonder if the petroleum giants they want to punish will just pass along the cost to motorists in higher gasoline prices. The [proposed] tax on Big Oil has turned into a tough sell with state legislators, who fear the oil giants will just pass the added costs on to drivers in the form of higher gasoline prices. Read more..

That last sentence gets the “Duh Award”. Whether it was Nixon’s Wage and Price Controls (which failed miserably) or Rendell’s efforts to “force” private companies to eat the cost of another tax, what Constitutional authority is there for politicians to micro-manage internal business decisions of private companies?

1 comment:

The Unseen One said...

This continues to prove my often stated point that liberals don't understand the concept of cause and effect.