Four Democrats in the House of Representatives are backing a bill that would authorize the president to set up a "reasonable profits board" to determine what reasonable profits are for oil and gas companies, and then go on to impose taxes of 50% to 100% on amounts beyond the "reasonable" level. The Blaze and The Hill have details, and National Review and the New York Post have also taken note. This legislation doesn't look like it's moving anywhere at the moment (two of the original six co-sponsors have withdrawn their support), but it's newsworthy as an illumination of how certain elements — Congressmen John Conyers, Dennis Kucinich, Bob Filner, Lynn Woolsey — on the left think.
'Reasonable Profits Board'
https://www.futureofcapitalism.com/2012/02/reasonable-profits-board
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