The oil wars in the nations capital are heating up. The Democrats in Congress have introduced two different energy related bills that the Republicans managed to kill. The first was previously blogged in an open letter to my senators. So, right up front I want to extend my thanks to Senators Kay Bailey Hutchinson and John Cornyn. They did what had to be done in order to make sure the APE bills didn't make it. By the way, the next post will answer just what an APE is.
For those that didn't understand the significance of todays Republican filibuster, an attempt by the Senate to demonise the oil companies was stopped. They wanted to impose a "Windfall Profits Tax" on Big Oil. The problem with that is that no matter what accounting procedures you use the ultimate truth is that corporations don't pay taxes. So, the WPT would have been paid by you and I at the pump.
To fully restate the (to some) obvious: Taxes are simply an expense associated with the final delivery of the service or product. If the material or labor that goes into making a widget goes up, so does the final price. Taxes are the same way.
The current crop of Democrats in the Congress doesn't seem to get it. I can only ask: Are they always this stupid? Or is this millennium a special occasion?
What can we do about it? First, educate yourself. Then educate your friends, neighbors, family members, and co-workers. Finally, maintain a close contact with your elected officials.