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From: rpccpa (Rep: 1510) reply to rpccpa

Date: 04/07/2008 15:11

Forum: Wall Street Pit - Msg #1301641 - List XLE msgs

Thread #1301607 (Rec: 0)

WINDFALL PROFITS TAX - Ted Kennedy Calls it Up
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WRITE YOUR CONGRESSPERSON

A windfall profits tax is a tax on profits that ensue from a sudden windfall to a particular company or industry.

United States
In 1980, United States federal legislation was passed that levied such a tax on oil companies because of the profits they earned as a result of the sharp increase in oil prices brought about by the Arab oil embargo. Since then, the tax has not been reenacted, however with gas prices once again reaching record levels there is renewed pressure on the U.S. government to bring back the tax.

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Reply to rpccpa - Msg #1301607 - 04/07/2008 14:27

WINDFALL PROFITS TAX - Ted Kennedy Calls it Up
================================
WRITE YOUR CONGRESSPERSON

A windfall profits tax is a tax on profits that ensue from a sudden windfall to a particular company or industry.

United States
In 1980, United States federal legislation was passed that levied such a tax on oil companies because of the profits they earned as a result of the sharp increase in oil prices brought about by the Arab oil embargo. Since then, the tax has not been reenacted, however with gas prices once again reaching record levels there is renewed pressure on the U.S. government to bring back the tax.

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