here's a bit more . . . Your pal Paul Krugman had a good column on this in re: the Repug's gas tax cut fulminations. He points out that if the U.S. reflexively cuts taxes when the cartel raises prices, that's a perfect transfer of income to the cartel, since they sell the same q of oil for a higher net of tax price. mbs Since Michael P wants economics, here's something on oil prices from ex-pen-ler Dean Baker's Economic Reporting Review:
- economic issue: oil prices Jim Devine
- Max Sawicky
