Congressman Proposes that Government Establish a "Reasonable Profits Board"

NEALZ NUZE ^ | MAY 23, 2008 | NEAL BOORTZ

[Turret Gunner A20]

Politicians have been coming up with all sorts of fancy schemes to combat the current gas prices ... they've done everything except actually come up with a logical, long-term solution. But this hairball scheme, out of all the schemes out there, might be the most ridiculous to date.

Here are the basics:

http://www.taxfoundation.org/blog/show/23183.html

** Representative Paul Kanjorski is a Democrat from Pennsylvania. His plan would establish a "Reasonable Profits Board" in which the government will determine whether or not a company's profits are excessive.

** H.R. 5800 would tax industries' windfall profits. The bill would set up a Reasonable Profits Board to determine when these companies' profits are in excess, and then tax them on those windfall profits.

** As oil and gas companies' windfall profits increase, so would the tax rate for those companies.

** Kanjorski said his legislation will encourage oil companies to lower prices to prevent them from receiving higher tax rates.

How completely asinine is this jerk's idea? Clearly he was educated in the same Marxist school as Barack Obama and these other liberals who despise the idea of the free market.

I'm not through with this crackpot idea yet. I know many of you have read "Atlas Shrugged." Now maybe I'm wrong, but wasn't there a similar government entity in that epic book? It's been a while since I read it, but I would swear that this Kanjorski idea was lifted straight from that book.

Remember --- for politicians like Kanjorski, you really only allowed to earn profits selling something or providing some service that the people don't actually need.

Just how long do you think it would take for politicians - anti-capitalist politicians - to start working to add other consumer items to the jurisdiction of the Reasonable Profits Board? The pressure would certainly be on to get food added ASAP. Then it would be pharmaceuticals. Oh ... and if you'll remember that story from earlier in the week about "affordable" weight loss clinics ... let's add those too.

Idiots like this Kanjorski need a little more attention from you.

Here's his web page http://kanjorski.house.gov/

[wjr123]

Whoever noted that he likely never worked a day in the
private sector is correct.

http://en.wikipedia.org/wiki/Paul_E._Kanjorski

He has the typical lawyer, administrative law judge,
politician profile.

[Swiss]

Funny how a 7% profit by an oil company is extreme but trial lawyers can collect 70% of a settlement to their clients and that is alright.

One key thing for people to remember is that Warren Buffett and Soros isn’t supporting the Democratic Party for nothing.

If they can drive the producers out of business Buffett and Soros can pick up those companies for a song. Very much like Atlas Shrugged where politically connected businessmen looted the businesses of honest businessmen.

[TigersEye]

That sort of thing worked out so well for the Soviet Union.

[fieldmarshaldj]

Hopefully Lou Barletta will be replacing this asshatski in November.

[Turret Gunner A20]

It will not reduce the price of gas even $.01 a gallon.

Can anyone point out to me a single instence in the history of the world where a tax resulted in a single item's price being lowered??

[Turret Gunner A20]

Very true — but the last couple of genereaations of voters have not been taught anything about that in our fine government schools. In fact, there is a large percentage of those GS grduates don’t even know who the hell the Nazis were.

[Turret Gunner A20]

BTTT