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Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

Republicans Stop 2 More Bills: Windfall Profits & Alt. Energy Tax Breaks, What's Next?

Energy, Legislation, McCain 2008, Obama 2008, TAXES

The Windfall Profits Tax Bill was blocked by the Republicans Tuesday:

GOP senators shoved aside the Democratic proposal, arguing that punishing Big Oil won't do a thing to lower the $4-a-gallon-price of gasoline that is sending economic waves across the country. High prices at the pump are threatening everything from summer vacations to Meals on Wheels deliveries to the elderly. ...

..."In the middle of what some are calling the biggest energy shock in a generation ... they proposed as a solution, of all things, a windfall profits tax," Republican leader Mitch McConnell of Kentucky chided the Democrats. He called their proposal "a gimmick" that would not lower gasoline prices and only hold back domestic oil production.

"The American people are clamoring for relief at the pump," agreed Sen. Pete Domenici, R-N.M., but "they will get exactly what they don't want" under the Democrats' plan — higher prices and an increase in oil imports.

The Democrat supporters said this tax differed from the 1980s version because "oil companies could avoid the tax by using their 'windfall' to push alternative energy programs or refinery expansions*." Senate Republicans weren't buying that argument though and so the Democrats couldn't get the 60 votes needed to stop the GOP filibuster.

Wow! The Senate Republicans were on a roll yesterday; they went on to block a 2nd bill: 

Shortly after the oil tax vote, Republicans blocked a second proposal that would extend tax breaks that have either expired or are scheduled to end this year for wind, solar and other alternative energy development, and for the promotion of energy efficiency and conservation. Again Democrats couldn't get the 60 votes to overcome a GOP filibuster.

This on the heels of Friday's block of the Cap-and-Trade bill. Maybe the Republicans are finally getting the hint that most Americans don't want all these taxes on corporations that get passed on to us?

Do I dare hope that the GOP would push for more domestic drilling and building additional US oil refineries? That would make a positive difference in future energy supply/costs.

But the bigger picture issue with the Windfall Profits Tax is, whose money is it anyway? Don't corporations, and individuals for that matter, have a right to make money?

What gives the government the right to arbitrarily say, you are making too much, we are going to take more of that. That is not a Windfall Profits Tax, that is socialism.

 

*Correct me if I'm wrong, but don't oil companies face opposition whenever they want to build new oil refineries? 

Links:

counter hit xanga

Brookfield7, Fairly Conservative, Betterbrookfield,
Mark Levin , Vicki Mckenna

 

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