Govenor Ed and Windfall Profits

In a letter to President Bush, Govenor Ed Rendell of Pennsylvania called for a windfall profits tax on oil company profits. The proceeds of which would be returned to the american people as tax refunds next year.

Is this an idea whose time has come? Don't hold your breath.


"The profits are ungodly; there is no excuse for this," Rendell said. "Oil companies should not be permitted to drain Americans' bank accounts to collect record-breaking profits."

Philadelphia Inquirer - Rendell Wants Federal Tax On Windfall Profits