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Windfall Profits Tax
(redirected from windfall profits taxes)

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Windfall Profits Tax
A tax on profits seen as excessive. For example, a windfall profits tax may be imposed on oil companies when their profits rise above a certain amount. The idea behind a windfall profits tax is to encourage the taxed persons or companies to lower their prices, which is thought to be good for consumers. However, it may have the effect of reducing investment because the aftertax profit may not be worth the effort. See also: Windfall shares, Windfall tax.


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For his part, Senator McCain has angrily denounced windfall profits taxes for discouraging domestic oil production -- an argument that prevailed in Washington when Republicans killed exactly such a tax last June.
California doesn't need Sacramento's schemes for confiscation of private property or windfall profits taxes, it just needs some economic common sense and solid leadership.
127, "The Distributional Impact of Windfall Profits Taxes and a Gas Tax Holiday" available at www.
 
 
 
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