Socialism?

Senator Byron Dorgan from N. Dakota thinks that the big oil companies need to give their "windfall profits" back to the public. He thinks the government should impose a special excise tax on oil companies.

I am no happier about the price I'm paying at the pump to fill up my car, but to impose a special excise tax on these companies that represent capitalism at its finest is absolutely ridiculous! I saw an interview on Dorgan this morning and he thinks that the oil companies are making too much money off the general public. Who is to determine how much is too much? I don't know about you, but isn't that the whole PURPOSE of capitalism? Dorgan claims to support capitalism, but this tax he supports is sounding more and more like socialism.

As Americans, we are so spoiled with paying such astronomically low gas prices (have you been to Europe?) that we feel the need to point the finger at someone else to take the responsibility and "ease our pain". In Dorgan's case, it's the oil companies. Well, let's see, the average cost of a gallon of gas is about $3.20. That comes out to $0.20/cup. How much does your cup of coffee from Starbucks cost? It certainly puts things into perspective, doesn't it?

Why just end at the oil companies? Let's attack Starbucks, Microsoft, Dell, Apple, Toyota, GE, Disney, Pfizer, Unilever, and every other publicly (both US and international) held company that actually turns a profit. Let's place an excise tax on their "windfall profits" so that we can re-distribute the wealth. I don't know about you, but that seems like a slippery slope to a place called socialism.

I think Adam Smith may be turning over in his grave.