Letters to the Editor
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Gas holiday tax very bad, windfall tax bad, too
These politicians really need economic advisors. The gas holiday tax is a no brainer. And thanks to economists coming out and saying so, the public is realizing it, too, and not expecting much from it. The windfall profits tax is also a ridiculous idea embraced by both candidates. Look at the companies, their p/e (all of the big oil companies are around 12, not bad at all), their eps, their peg ratio, and now, with oil, there is the "crack spread," which is the difference between the costs/ prices of processing unrefined crude and refined products--the wider the crack spread, the greater the profit. And, where exactly does one stop with this windfall profits tax idea, anyway? Hey, MicroSoft (or fill-in-the- blank company) makes lots of money, let's put a windfall profits tax on them. This kind of policy would hurt the shareholders. It is not a well-founded or grounded idea.