Thursday, January 19, 2012
House Dems want to set limits on oil profits
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.
I'm still furious about the unreasonable profits movie theaters make on popcorn. When is Congress going to do something about that?