The novel Atlas Shrugged has become real. Unless there has been a communist coup, that is the only way this could happen in America:
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.
A “reasonable profit” is whatever our socialist rulers arbitrarily decree. Needless to say it will be far less than the tax on gasoline, which is several times higher than the thin profit margin taken by the people who take the risks and supply us with the gas.
The arbitrary decrees would be dictated by a Reasonable Profits Board, appointed by the Wealth Redistributor in Chief to three-year terms. Profits beyond 105% of a “reasonable profit” would be taxed at Democrats’ idea of a reasonable tax rate: 100%.
Kucinich said these tax revenues would be used to fund alternative transportation programs when oil-and-gas prices spike.
When the government stole our money to fund alternative energy programs, we got Solyndra. I can hardly wait to see Dennis Kucinich’s idea of alternative transportation. Free skateboards won’t do, because people would be able to ride their skateboards in whichever direction they choose.
The other culprits:
Co-sponsoring the bill are five other Democrats: Reps. John Conyers Jr. (Mich.), Bob Filner (Calif.), Marcia Fudge (Ohio), Jim Langevin (R.I.), and Lynn Woolsey (Calif.).
The trivial differences between the Democrat Party and the Communist Party USA are blowing away in the winds of Hope & Change.
Meanwhile, Obama just killed the Keystone XL pipeline, sending Canadian oil to our communist Chinese adversaries. As a result of his policies, gas already costs twice as much as when he took office; it would cost still more if not for the sluggish economy.
Consequently, shrill lies regarding oil company profits will keep getting louder — as will calls by Democrats for straightforward nationalization of the oil industry. By controlling gasoline, they will be able to control our mobility — which is also the point of “alternative transportation” programs.
On tips from AC, J, Kevin R, Sean, and Bob Roberts.