Taxin' Momma

I've been criticizing Barack Obama's proposed windfall profits tax. It is a horrible idea and only bad things could come from it. Now, I will criticize the windfall tax that was enacted in Alaska under governor Sarah Palin. It was a horrible idea and only bad things have come from it.

Seattle Times link

The above link explains it all. The tax had exactly the effect that I predicted it would even before learning of the failed 1970 windfall tax. History has proved it twice: windfall profits taxes are just a bad idea and that is that. Sarah Palin was wrong to enact it. I really, really hope there is some information out there which justifies her doing this stupid, stupid thing (but I won't keep my hopes up).

However, please note! Sarah Palin is not running for president. John McCain is. John McCain is sternly against the windfall profits tax!