Mid Morning
Source: http://randomroger.blogspot.com/2008/06/mid-morning_09.htmlPosted on Monday, June 9th, 2008 | In Current Market News, Economics, Stocks to Watch
Here is a nutty thought.
Some folks want to impose a windfall profits tax on the oil companies because of how much money they are making. The profits are obscene these people say.
I have never heard anyone define obscene but wouldn’t obscene have to be indexed to inflation?
Some other folks feel that the gub’ment’s inflation data is cooked in such a way as to minimize the true rate of inflation because of various COLA requirements for entitlement programs.
Wouldn’t windfall profits inflation indexing be an incentive for cooking the inflation numbers upward? The COLA indexing an incentive to cook the numbers downward? Which one would win?
If more taxes could solve problems, not have unintended consequences and be good economics then people would be all for it but the reality is higher taxes do not solve problems, do have unintended consequences and is bad economics.
In case it is not clear I do not believe a windfall profit tax is the answer.
Last 5 posts by Roger Nusbaum
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Current Market News, Economics, Economics, Entitlement Programs, Gub, How Much Money, inflation data, Inflation Numbers, Mid Morning, Oil Companies, Rate Of Inflation, Stocks to Watch, True Rate, Unintended Consequences, Windfall Profit Tax, Windfall Profits Tax
 About Roger Nusbaum (http://randomroger.blogspot.com)
Roger Nusbaum is a portfolio manager with Your Source Financial of Phoenix, and the author of Random Roger's Big Picture Blog, which has been profiled in several top business publications, including Barron's and Forbes. Nusbaum has also been a financial consultant with Morgan Stanley, an investment counselor with Fisher Investments and an institutional equities and options trader with Charles Schwab. He holds a bachelor's degree in economics from San Diego State University |
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