I still want to see the oild companies get hit the same way the small business and sole propriators get hit.... 30% on their *NET* profits.
Mississippi Steve Reviewed by Mississippi Steve on . Leftists of the World Unite on Windfall Oil Tax To compete with Hillary Clintonâ??s pandering on a gas tax holiday, Barack Obama proposed a windfall profits tax on oil companies of his own last month. The Obama plan is not unlike the windfall oil profits tax passed by Hugo Chavez just two weeks earlier. Obama would slap a 20% tax on the cost of a barrel of oil above $80 for all domestic oil companies. Chavez tax hits only foreign oil companies and charges a 50% rate for the cost of a barrel of oil above $70. The difference between Rating: 5