Jim Webb's New Book Coming Soon: Doo Doo Economics

Gas prices are too high so what does Senator Jim Webb (X) VA want to do? Tax Big Oil so they can pass it on to the consumer and raise prices some more.

When Sen. Robert P. Casey Jr., D-Pa., announced a bill for a windfall-profits tax on oil companies, Sen. Jim Webb, D-Va., signed on as a co-sponsor and appeared at a news conference with Casey and other freshmen Democratic senators.

Casey's proposed 50 percent tax on profits would apply when oil prices rise past $50 per barrel. The revenue would help low-income families pay for costs of transportation. Casey said his bill also would repeal tax loopholes and breaks granted by energy legislation signed into law in 2005.

"When we went into Iraq, oil was $24 a barrel; today it's $66 a barrel," Webb said. "It can be safely said the profits these oil companies are making now are a result of our policies in the Middle East."

The Casey bill "recoups some of the skyrocketing corporate profits of the big oil companies, invests in alternative energy sources and eases the burden of low-income Virginians at the pump." inRich.com

Just how is that revenue going to make it into the gas tanks of the poor in Virginia? It sounds like another luscious government program in the making.

Actually, it sounds more like someone had a brain fart. Again.