What We Need is a "Windfall Taxes Rebate"

Want to cut the price of gas, okay, here's what we do....

THE ONLY GAS MORE EXPENSIVE THAN GASOLINE IS THE GAS GENERATED BY WASHINGTON: Gas Prices Soaring

Republican Gas:
Senator Arlen Specter (R-Pennsylvania/Courtesy: CNN's Late Edition) says,"I think windfall profits, eliminating the anti trust exemption, considering the excessive concentration of power are all items we ought to be addressing."
Democrat Gas:
Senator Carl Levin (D-Michigan/Courtesy: CNN's Late Edition) explains,"If the president would call the oil companies into the Oval Office, and tell them he's gonna support a windfall profits tax the way some of us have been urging, unless they bring the prices down given the excess profits they have earned, the extreme, obscene profits that they've gotten, I bet the prices of gasoline would come down within a matter of days."

Now we are all clear that the "DC Do-Something-Disease" is raising festering boils on the flapping lips that suck down salary and benefits on your dime in the Senate and the House, right? Right.

That being the case, could we all please write/phone/visit our representatives and tell them to just "Shut up about these windfall profits lest you suck more deeply and eternally than you do already!"

If you want cheaper prices at the pump, there's only one way to get it absent drilling (Can't upset the rutting Caribou in Alaska.), building refinery capacity ("Not within three thousand miles of my backyard!"), or making Iraq the 51st state ("Humm.... hold that thought. We'll get back to you."). That method is to create a "Windfall Taxes Rebate."

It works a lot like the "Windfall Profits Tax," but you get cheaper prices at the pump and a rebate. For every penny gasoline increases in price past a benchmark of $2.00 a gallon, state and federal governments have to take ten percent less in gas taxes and use the residual taxes to send everyone buying gasoline at over $2.00 a gallon a rebate for the amount over $2.00 that they paid.

If, however, gasoline remains at $2.00 a gallon no adjustment in the gas tax or rebates come into play.

Put that little law into action and you'll see $2.00 gasoline within the fortnight. You'll also see drilling around the country, refinery applications green-lighted, and a Manhattan Project in pipelines unfolding.

The Windfall Taxes Rebate: Everybody wins when government loses.

Posted by Vanderleun at April 24, 2006 1:44 PM