To Tax or Not to Tax

Will Murphy’s Indecision Be the Oil Company’s Windfall?

(August 13, 2008) – Doylestown, PA. (Manion for Congress)

Something changed Congressman Murphy’s mind recently regarding the proposed “windfall profits” tax on oil company profits. Way back on July 2^nd, Murphy said “he wanted to see more taxes on oil company windfall profits.” Now that it is August, Murphy would not “…support such a tax.” Which is it? To tax or not to tax? What decisions will September bring from Congressman Murphy?

Challenger Tom Manion remains opposed to windfall profit taxes. “This is a free market economy. Can anyone even define a windfall profit? If you are a business owner, would you want limits on your profit margins? Congressman Murphy neglects to mention that oil companies also paid record taxes, and perhaps he’s forgotten that over 100 million American households share stock ownership of the oil companies and benefit financially from the increased profits.”

“We already know the windfall profits tax is a tired, failed approach. If Congressman Murphy and the house leadership were really ready to responsibly address this critical situation, they’d agree to a debate on the house floor. Instead they are playing politics at the expense of the American taxpayer,” continued Mr. Manion. “Let’s work together on this energy issue. Get all options on the table, cancel vacation, and get back to work!”

Sources:

“Drilling for lower gas prices,” Bucks County Courier Times, 07/02/08

“Candidates oppose taxing windfall profits,” The Intelligencer, 08/04/08