Gas Prices – the only issue that counts

May 18, 2011 § Leave a comment

Senate Blocks Bill to Eliminate Tax Breaks for Oil Companies – NYTimes.com. I always find the outrage over high gas prices laughable. How could anyone believe that Big Oil wouldn’t maximize profit – and with a nudge, nudge, wink, wink – collude on pricing? Not to keep harping on the point, but there is very little correlation between tax rates and employment. Companies increase employment when they see a chance to increase profit. The only downside to eliminating tax breaks for Big Oil is the impact it has on your retirement funds.

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