From Bloomberg via yahoo news: Biden Ally Floats 21% Surtax on Oil Profits to Blunt Inflation
“The proposal I’m developing would help reverse perverse incentives to price gouge, by doubling the corporate tax rate on companies’ excess profits, eliminating egregious buybacks and reducing accounting tricks,” [Senator Ron] Wyden said about the proposal he plans to introduce in the coming weeks. “By contrast, companies that provide relief to consumers by either reducing prices or investing in new supply would not be affected.”
Inflation isn’t caused by any policy of Joe or the Democrats, nope, it is those evil nasty capitalist oil companies being greedy.
If greed was the driving force, wouldn’t they oil companies have raised their prices long ago to maximize their profits? It would be much easier to sell $2.99/gal gas to public than $5.25/gal.
To quote somebody wiser than me: The beatings will continue until moral improves