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Posted: 9:09 a.m. Tuesday, May 25, 2010
By Neal Boortz
The oil spill in the Gulf is a, no doubt, a terrible situation. BP should absolutely pay for its wrong-doing. But now Congress has managed to find a way to eek billions out of the situation in a way that will ultimately hurt the consumers.
Congress is getting ready to quadruple--to 32 cents a barrel--a tax on oil used to help finance cleanups. This will end up raising $11 billion over the next decade.
What Congress fails to realize is that a tax on a company ultimately gets passed down to the consumer. This is essentially taxing Americans, increasing our prices, for the failures of BP.
Maybe it's just me .. but doesn't it make more sense to hold the company responsible for the link accountable?
Wait ... there's more. This is the first oil leak of this type since Santa Barbara in 1969. That makes 41 years between incidents. With technology constantly advancing, do you really think that the chances for another incident like this in the near future .. let alone in the next 41 years .. are great? But, in the meantime, our government collects it's new taxes? Tell me .. what do you think the government will do with this money? Put it in a savings account somewhere where it can draw interest? Are you kidding me? The money will be spent to buy votes ... and when and if another spill like this comes along the money will be nowhere to be found.
You know I'm right.
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