Tag: Windfall Profits Tax
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Exxon Doubled Its Profits. A Windfall Tax Won’t Lower Your Gas Bill.
Exxon doubled its quarterly profit to $15.4 billion and Chevron earned $9.9 billion, and Democrats want a windfall profits tax. America tried that in 1980. It raised a fraction of what was promised and may have cut US oil output. The fix is more supply.
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