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POSTED May 7, 3:50 PM
Gasoline pricing looks like it will be getting some scrutiny from Congress. Senator Pat Leahy, Chairman of the Senate Judiciary Committee wants to chat with oil company executives about the high price of gasoline.
I wrote the other day about the growing clamor for windfall profit taxes levied against big oil. I just don't believe it's any business of the government telling private industry what kinds of profits they can make. Congress and the Bush Administration have been bending over backwards providing big oil companies with tax credits and subsidies for the last six years. If Senator Leahy and his Committee are really serious about reining in what they believe is abuse by big oil, it ought to come by taking away all the giveaways that have been provided to the industry by Congress. It certainly seems the oil companies can afford to pay their fair share |
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POSTED May 6, 11:21 AM
Hillary Clinton surrogate, Senator Robert Menendez, appearing on MSNBC this morning: It must be pretty embarrassing and, with a straight face no less, go on national television and assert Hillary Clinton is familiar with "pinching pennies"... Read More
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POSTED May 6, 10:07 AM
During Hillary Clinton's appearance on ABC News' "This Week", the Senator was asked if she could name a single economist who supported her call for eliminating the federal excise tax on gasoline sales this summer:"I'm not going to put... Read More
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POSTED May 3, 10:46 AM
Like most things, there are some messy details. A couple data points: Record oil prices netted Exxon Mobil a $10.89 billion profit in the first three months of the year, sharply higher than a year earlier but short of Wall Street estimates and... Read More
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POSTED May 1, 1:22 PM
There's no other explanation. Campaigning in Pennsylvania yesterday, Senator McCain claimed the bridge collapse in Minnesota last year was a result of "pork barrel spending". Republican John McCain said Wednesday that the bridge collapse... Read More
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POSTED April 30, 2:01 PM
Rasmussen Reports recently published a poll of American's thoughts about health care. Among the findings: 31% rate the U.S. health care system as good or excellent63% favor requiring employers to provide health care coverage to their employees29%... Read More
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POSTED April 30, 8:17 AM
We deserve what we get, I suppose. The campaigns for the highest office in the land, the presidency, have been reduced to discussions about the merits of a (less than likely) 25 or 30 buck saving this summer. McCain and Clinton are for it. ... Read More
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POSTED April 29, 2:35 PM
Two more points about Senators McCain's and Clinton's call for a moratorium on the federal excise tax on gasoline over the summer months: By depriving the Highway Trust Fund of revenue for a quarter, how do the Senators propose the issue of laid off... Read More
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POSTED April 29, 8:27 AM
When Senator John McCain gave his big economic policy speech a few weeks back, it included an interesting proposal; elimination of the 18.4 cents/gallon federal excise tax on gasoline during the summer months. Acknowledging it wouldn't amount to... Read More
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POSTED April 28, 10:15 AM
OK, I realize this is getting out of hand. I don't want to write, and I'm sure you don't want to read, post after post of dumb things Senator McCain has said when it comes to the economy and fiscal policy. Perhaps I will compile, on a daily... Read More
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