With gas prices already high, Newsom presses ahead with windfall tax on oil companies

[Dashinka 24,109]

Hmm, so Newsom is supposedly a Democrat front runner for President, I guess he failed economics, and relies on bad logic.  If the oil companies are so greedy, why would they not pass any new tax onto their customers?

 

With gas prices already high, Newsom presses ahead with windfall tax on oil companies

 

 

California Gov. Gavin Newsom is calling a special session on Dec. 5 for lawmakers to discuss a proposed windfall tax on oil companies, a move that he says will address “greed,” but admitting it could face legal scrutiny.

 

 

Newsom proposed a new tax on the excess profits of oil companies last week, announcing that he wants to deliver refunds or rebates back to taxpayers who have been “fleeced” by companies engaging in “gouging.” Under Newsom’s proposal, companies who are involved in extracting, producing and refining oil will pay a higher tax rate on earnings over a certain amount. The “recouped windfall profits” would be directed to taxpayer refunds, his office said last week.

 

https://justthenews.com/nation/states/center-square/newsom-calls-special-session-december-weigh-windfall-tax-oil-companies

[LIBrty4all 3,749]

So it's the fault of the Biden administration that gas prices are where they are today, but Douchesum wants to punish the oil companies?

How about the US government stop sending billions of OUR tax dollars in aid to Ukraine, and give it back to Americans?

Edited October 10, 2022 by LIBrty4all

[TBoneTX 44,671]

6 hours ago, Dashinka said:

Newsom [...] failed economics, and relies on bad logic

He, however, has dual PhD degrees in Hypocrisy and Virtue-Signaling.