The Right Wing

http://www.fool.com/investing/value/2008/08/06/fool-blog-lets-tax-the-pants-off-of-big-oil.aspx

Above is a link to an excellent article on windfall profit taxes.  In short it explains why anyone with a passing understanding of economics and capitalism would recognize this policy as harmful, unfair, and just plain retarded.  The last President to invoke a windfall profit tax was Jimmy Carter in 1980.  That says enough right there.  A man considered to be the worst President in American history with little to no understanding of economics, foreign, or domestic policy thought windfall profit taxes were an excellent idea.  Now we have a Jimmy Carter clone in Barack Obama pushing for the same thing.  When will people learn, history is readily available to help us learn from mistakes.  Yet we have politicians and their idiot supporters ignoring the lessons taught because yelling at Big Oil sounds good in a speech.  Lastly, doesn’t penalizing people and companies for their success and profits sound a bit anti-capitalist?  The founding idea of capitalism is for companies large and small to be freely able to pursue profit from their work without government control.  We are in America, not Mother Russia, Red China, or WWII Germany.  I thought the fight between socialism and capitalism was settled in this country.  Apparently I was wrong.