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Politics : Sioux Nation
DJT 13.77-3.8%Dec 26 9:30 AM EST
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To: CalculatedRisk who wrote (66188)5/4/2006 5:49:25 PM
From: Wharf Rat  Read Replies (1) of 361954
 
Write fast :<)

[new] Charles Mackay on Wed May 03 at 8:17 PM EST
If they really want to go the windfall profits route, they should start with the windfall profits of homeowners. Most likley, those with the biggest gains are the older homeowners who have benefited from the inflationary policies of the Federal Reserve and/or obtained a mortgage from a S&L/bank that had to bailed out by the federal government. In either case, the public is paying the price for these inflationary policies and it's about time they get hit with a windfall profits tax - or else I'm not going to their stations, er, homes anymore.
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[new] PaulS on Wed May 03 at 9:03 PM EST
Exactly. Over any reasonable period of time, the return on houses has well exceeded the return on energy company shares. And on top of that you get the "hedonics" value of luxuriating in the house and showing it off to others - but you can't live in an oil refinery. Why is anyone surprised that we are overinvested in energy-guzzling houses and underinvested in energy sources?
[ Parent | Reply to This ]
[new] Robert Rapier on Wed May 03 at 10:01 PM EST
If they really want to go the windfall profits route, they should start with the windfall profits of homeowners.
That's a great idea for an essay. I may have to steal it.

RR
theoildrum.com
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