From the Wisconsin State Journal, a thoroughly sensible editorial on Governor Hugo Doyle’s proposed oil tax, which he wants to make a crime for oil companies to pass onto consumers. Invidious, unconstitutional and just a disguised form of expropriation that will inevitably lead to fuel shortages. And the Journal takes Doyle’s argument to the logical next level. “Reject Doyle’s Oil Tax Proposal — The Governor’s Attempt To Gouge Oil Companies Would Set A Dangerous Precedent“:
If government can select the oil industry for a specially contrived tax, based on an arbitrary judgment that profits are excessive, what industry is the next target? Is the pharmaceutical industry ripe for an extra tax to fund health care? (Doyle told the State Journal editorial board that he would have to think about that.)
Groups are now complaining about the impact of rising corn prices on food costs. Would some future governor hit farmers with a tax to fund programs to feed the hungry?
Where would the taxes stop?
Lawmakers should stop the governor in his tracks. They should reject the oil industry tax.
The best short summary in one place we’ve seen why Doyle’s proposal is so reckless on many, many levels.
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