Power of Story Send a Tweet        
- Advertisement -
General News

Taxing Oil Profits Could Generate $10 Billion for Katrina Efforts -- FINALLY A PLAN!!!

Quicklink Submitted By       Message Amanda Lang     Permalink


View Ratings | Rate It


Author 5
Become a Fan
  (9 fans)
Hurricane Katrina's financial impact could be reduced by $10 billion through a tax on windfall profits from the oil industry, according to calculations by the Center for Economic and Policy Research.

The calculations, which appear in a new paper, 'Taxing Exxon's Windfall From Hurricane Katrina,' by economist Dean Baker, are based on the sharp run-up in oil industry profits due to recent shortages of crude oil and refined products like gasoline and jet fuel. If just one-third of the industry's unexpected profits are taxed back by the government, it could raise more than $10 billion a year to finance the relief effort.
Read the rest of the story HERE:

At www.truthout.org


- Advertisement -

View Ratings | Rate It


OpedNews volunteer from 2005 to 2013.

Amanda Lang was a wonderful member of the Opednews team, and the first volunteer editor, for a good number of years being a senior editor. She passed away summer 2014.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -