You've got it right. And as a result of price controls and later taxes on production, oil production declined in this country and increased elsewhere, leding to our dependence on foreign oil.
Thanks, Tom 256-656-1924 -----Original Message----- From: "Allan Streib" <[EMAIL PROTECTED]> To: "Mercedes Discussion List" <mercedes@okiebenz.com> Sent: 5/22/08 12:54 PM Subject: Re: [MBZ] Fuel price! "Mitch Haley" <[EMAIL PROTECTED]> said: > Who gave us the phrase "windfall profits tax"? I'm thinking Carter or > Raygun. Good history at http://tinyurl.com/yqlltw "...Ultimately, however, it fell to President Jimmy Carter to make the bargain stick. In April 1979 he introduced plans to lift price controls gradually over the subsequent 18-month period. In tandem, he offered a new tax on oil production. "Unless we tax the oil companies, they will reap huge and undeserved windfall profits," Carter declared in a nationwide address. Americans had a right to recapture some of that windfall and put it to good use. "...Ronald Reagan had attacked the WPT while campaigning for the presidency in 1980. Once in the White House, he consistently supported repeal." _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com No virus found in this incoming message. Checked by AVG. Version: 7.5.524 / Virus Database: 269.24.0/1459 - Release Date: 5/21/2008 5:34 PM _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
