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Thursday, January 19, 2012

Dems propose 'Reasonable Profits Board' to regulate oil company profits - The Hill's Floor Action

Dems propose 'Reasonable Profits Board' to regulate oil company profits - The Hill's Floor Action: "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. "

Right. So a bunch of bozos who can't pass a budget in 3 years and who are spending like drunken sailors are going to determine what "reasonable profit" represents?

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