A vote is expected today in the U.S. Senate on a proposed 25 percent “windfall profits” tax on oil companies. The following quote illustrates the troubling mindset taking hold in this country (emphasis is mine):
“The oil companies need to know that there is a limit on how much profit they can take in this economy,” said Sen. Richard Durbin of Illinois, the Senate’s No. 2 Democrat, warning that if energy prices are not reined in “we’re going to find ourselves in a deep recession.”
Memo to Sen. Durbin: Companies don’t “take” profit. They earn profit based on providing a product or service to consumers who want the product or service.
