The Wall Street Journal also has this to say on the matter:
Read more if you like. Economic idiocy at its most obvious.The "windfall profits" tax is back, with Barack Obama stumping again to apply it to a handful of big oil companies. Which raises a few questions: What is a "windfall" profit anyway? How does it differ from your everyday, run of the mill profit? Is it some absolute number, a matter of return on equity or sales -- or does it merely depend on who earns it?
You know I am an Obama supporter, but I absolutely agree this is a bit hard to digest. I'm nothing if not fair, and while I'm here to say there certainly has been a lot of moronic economic moves on both sides of the aisle, what I am initially seeing here isn't the answer either.
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