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Wednesday, October 12, 2005

Dick Durbin Wants New Tax On Oil Companies

Wikipedia's Entry on Dick Durbin.

U.S. Sen. Dick Durbin (Democrat) proposed a new tax on oil companies' "excessive" profits Tuesday, saying the money could help consumers cope with the high cost of gasoline and heating oil.

These idiots either never learn or think that we never learn... or both.

If they raise the taxes on the company, the company will raise the price of the product to the consumer. Duh.

Saying gas prices are "the No. 1 topic of people I talk with," Durbin told reporters and a small crowd at Bauer Shell at 12th and Maine in Quincy that his proposed Windfall Profits Tax bill would turn profits back to programs assisting low-income families and provide additional revenue to the Highway Trust Fund.

Gee, the people I talk to talk about Iraq, the Hurricanes, the SCOTUS nominations and a plethora of other things before gas prices even come up. But Dick has a plan to shaft the rest of us for yet another tax increase and yet more subsidies.

"The key to this whole issue goes way beyond current situation," he said. "We have to reduce dependence on foreign oil. The United States is so dependent on foreign oil that we have to literally hold the hands of sheiks of Saudi Arabia, begging them to send us enough oil to keep our economy moving forward."

Well, I must admit he got that part right. But he's part the crowd that won't let us build new refineries or drill for oil in our country. Measures like this won't help.

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