Windfall Profits Tax

The huge money Wall Street, Banks, and others were making should have fallen into and been taxed accordingly. Any huge profit as a result of circumstances not time invested. This would have put the huge amounts of money generated by the risky deals back into the economy.

The problem with a windfall tax is the corporations always find a way for the consumer to end up paying. As long as they dominate and manipulate markets, the more the government taxes, the more they manipulate. Regulation would solve a lot of problems and also help fill coffers as well.

One of the biggest lies peddled by the rushpublicans is how the rich and business is targeted with a large tax burden. It's been shown that almost all the largest corporations found ways to pay little to no tax for the past several decades thanks to loopholes in the tax laws. Now we're also just starting to learn about the billions of tax dollars that were moved, illegally, off shore avoiding both income and capital gains taxes. Anyone with a good accountant, and the rich can afford the best, found ways to avoid paying taxes. Closing loopholes and forcing those who benefit the most from this country to pay their fair share would be a windfall that's long overdue.

Cheers...

Is it by percentage, or dollar amount?

Some small companies may make a large profit by percentage, but other other companies make a large amount of dollars on a small percentage.

Which do you tax?

:shrug:

It Wall Street had been taxed or knew the tax was in place to be implemented, they might not have come up with CDO's and ARM's.