What Say To A “Reasonable Profits Board”?

Another steller idea from the Party that refuses to give up their own fossil fueled transportation (The Hill, via Jazz Shaw at Hot Air)

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.

The Gas Price Spike Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100 percent on all surplus earnings exceeding “a reasonable profit.” It would set up a Reasonable Profits Board made up of three presidential nominees that will serve three-year terms. Unlike other bills setting up advisory boards, the Reasonable Profits Board would not be made up of any nominees from Congress. …

Of course, Democrats fail to grasp the difference between profit and profit margin. Even if they did, they wouldn’t care, because this is simply a way to demonize an industry, who could sue the pants off the Dems if passes, since it violates equal protection under the law beyond anything so far.

Over at Q&O, one of the comments reads

This is great-now we need a “Reasonable Spending Board” to monitor our Congress. We need a “Reasonable Ethics Board” to punish members of Congress who use their office to enrich themselves. A “Reasonable Taxation Board” to prevent the government from taking too much of our money.

How about a reasonable profits board for Hollywood and the actors/actresses?

Save $10 on purchases of $49.99 & up on our Fruit Bouquets at 1800flowers.com. Promo Code: FRUIT49
If you liked my post, feel free to subscribe to my rss feeds.

Both comments and trackbacks are currently closed

RSS feed

You can login to comment with:

Trackbacks/Pingbacks

6 Comments

Comment by gitarcarver
2012-01-20 12:55:55

The problem is that idiots like Kunich think the profit a company do nothing.

Profits from companies pay dividends to investors which can range from a Wall Street type to funds that supply retired people an income.

The main issue is that Kunich, along with Congress, seem to think they have a legal right to tell a company what they may make in profit.

It wil never happen, but I would love to see some company executive get “testify” and in an opening statement blast people like Kunich for over regulation and failing to listen to the American people.

 
Comment by rob in katy
2012-01-20 13:08:33

1) and when you start taxing me 100%, I stop shipping the oil? We will see how long that tax lasts.
2) There is a solution for these traitors, it is called “the wall” it worked pretty well.
3) I think the comment count is off, this showed 3 before my post.

 
Comment by LibertyAtStake
2012-01-20 13:14:57

I think Patrick Henry had the answer to your title question – “Give me liberty, or give me death”

d(^_^)b
http://libertyatstake.blogspot.com/
“Because the Only Good Progressive is a Failed Progressive”

 
Comment by david7134
2012-01-20 14:08:22

I agree with a profits board for Hollywood. They make you pay an enormous sum for a junk movie, plus you have to pay to watch a ton of commercials. Then the actors are paid far more than any Wall Street guy every thought of getting. For 3 months of work, they may get 20 million or more. Have you ever worked for these guys, I did and they don’t pay anything. They will also cheat you to death over just a few dollars.

Why doesn’t our government understand that if we want a decent economy, just leave everyone alone. Eliminate the rules, regs, fairness concepts, the whole thing. Just let people do their work and sit back and steal the money like they have since Lincoln.

 
Comment by William Teach
2012-01-20 14:43:53

Spam comments unfortunately show up in count.

 
Comment by Ken E.
2012-01-21 20:21:58

Just think of the out cry from actors…reasonable profit….70% less it could be…most, we would not miss anyway…I am sure they would cry; saying that it is not fair….not counting the studio owner’s…but it still comes down to stupid people saying stupid things…and these people are paid by the public purse…thats criminal…no value for money there…///

 

Sorry, the comment form is closed at this time.

Bad Behavior has blocked 8863 access attempts in the last 7 days.

Performance Optimization WordPress Plugins by W3 EDGE