Friday, February 02, 2007
Hillary "Chavez" Clinton
Be afraid, be very afraid.
I'm afraid when a presidential candidate announces that she wants to take someone's money.
who doesn't agree with that???
Anyone who isn't a socialist.
For more information on supporters of large gas taxes, see: http://gregmankiw.blogspot.com/2006/09/rogoff-joins-pigou-club.html
Of course perhaps Greg Mankiw is just some wacky socialist who happened to be the director fo the Council of Economic Advisors under W.
From a political standpoint, it's pure thievery, hence the Hugo Chavez line.
The WPT was collected on the first sale of taxable oil, typically when a producer sold a barrel to a refiner. The refiner was required to withhold applicable tax from the payment to the producer and deposit the money semimonthly into an account. The purchaser filed quarterly returns reflecting those collections.
I skimmed the whole article and, besides the populist sounding name this sounds pretty much like a standard gas tax. How is it thievery. Do you have any information that a modern windfall gas tax would try to take already earned money (i.e. what Chavez is doing)?
Here's a recent proposed example.