October 31, 2005
Tax & Spend

While everyone in the media and in government are wailing away about record oil company profits, hardly anyone is mentioning who the real beneficiary is:

With BP, Exxon-Mobil, and Shell reporting record profits, the Tax Foundation reminds us in its latest Fiscal Fact that the biggest beneficiaries of gasoline sales are federal and state governments, not the oil industry...

Which is, of course, doing nothing to slow down legislative attempts to grab even more cash. I mean, why let people and the market forces they create distribute profits to whomever has the brains and the balls to do something with it? Much better instead to simply take the money from the people who made it and give it to whichever interest group (or campaign crony) our elected officials want.

Because we all know how fair that system is.

Posted by scott at October 31, 2005 11:49 AM

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