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February 16, 2012

If the gas from these prophets were taxed, we would not need a gas profit tax.

Dems propose 'Reasonable Profits Board' to regulate oil company profits Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits.
The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.

Here directly from the proposed bill:
(4) REASONABLE PROFIT.—The term ‘reasonable profit’ means the amount determined by the Reasonable Profits Board to be a reasonable profit on the sale.

Posted by gerardvanderleun at February 16, 2012 9:22 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

With all due (keyword) respect to the six House Democrats, a couple questions; What experience do you have at actually generating a profit, “reasonable” or otherwise?

Secondly; What part of the Constitution, (you remember taking your oath of office, right?), gives you authority to decide such a thing as “reasonable profit”?

Lastly, a comment; Go fuck yourselves. No offense intended.

Posted by: tim at February 16, 2012 1:33 PM

They have merely substituted "reasonable" for "fair" so it won't sound [so much] like a kindergarten tantrum. Fair/reasonable is completely arbitrary, as intended so that however the board decides it qualifies as reasonable because the board decided it.

Posted by: Director at February 16, 2012 1:52 PM

Damn!!! After reading the definition of "reasonable profit" I couldn't get the duct tape around my head fast enough to keep it from exploding. Must. Clean. Up. Desktop. Now. Ow.

Posted by: drdave at February 16, 2012 6:22 PM

Maybe they could take the trouble to define "reasonable" deficit first, or maybe they could count backward from 14 trillion and then take a vote.

Posted by: james wilson at February 16, 2012 7:52 PM

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