May 28, 2008

Windfall Profit Taxes Who? You.

John Stossel on who loses if Senators Clinton or Obama are actually allowed to follow through on their threats to wipe out Oil Company profits.

Taxing "windfalls" is politically rewarding, but in the final analysis, only people pay taxes. When a corporation is taxed, the burden falls on workers (through smaller raises), consumers (through higher prices) and shareholders (through lower stock prices).

Do Clinton and Obama really want to tax these innocent people just to spite oil executives for high profits?

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