Windfall Profits Tax
Again we are getting the right wing line that the windfall profits tax on oil in the 1980s caused
oil production to fall and oil imports to rise as Carpe Diem at http://www.blogger.com/post-create.g?blogID=5048766.
post a story from Investors Business Daily saying that from 1980 to 1986 oil production fell.
Yes, the windfall profits tax was still on the books in 1986, but the tax was only paid when the price of oil was above $30/ B and the last time that happened was in September 1983. So by claiming a tax was effective three years after it became ineffective they are able to make that claim.
I am still waiting for one of these right wing advocates to reply to my question that if their economic philosophy is so good and superior why do they have to be so dishonest in defending it.
If their claims are correct, shouldn’t the truth be an adequate defense?