Thursday, September 29, 2005

WPT

Some members of Congress have introduced legislature to take a "Windfall Profit Tax." This is a horrible idea and it will hurt the economy incredibly. "Windfall profits" are the big gains that a company recieves for planning ahead and getting into a market that people really need. Also, the current surge in profits motivates others to get into the oil business and thus increase supply. Profits are an incentive to produce, why don't politicians realize this?

2 Comments:

Blogger merc said...

Whether or not politicians realize it is beside the point, really. Even if they do, they probably don't care as much as they do about getting more tax dollars to throw at those who pay for their re-election campaigns (yet one more reason for term limits).

The main problem is the fact that a good foundation in economic principles and applications is not demanded at the high school or university levels. As long as schools keep graduating individuals who have little clue as to how the economy really works, we'll have politicians who are easily able to pull the proverbial wool over their eyes.

11:33 PM  
Blogger Rich Saunders said...

Exactly. It's rediculous that students have to study fictional literature for so much yet don't have to have a bit of economics for highschool.

8:55 PM  

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