Taxing Away Our Power

May 1980
National Review;5/2/1980, Vol. 32 Issue 9, p516
The article discusses the tax revenues accumulated by the U.S. from the oil industry as of 1980. The Congress seized $227 billion in private property from investors in the oil industry. The Congress should be so maddened by greed for tax revenues that it would help finish off the industry just when energy is of paramount economic, political, and military concern. To help the Organization of Petroleum Exporting Countries along by bringing back gasoline lines, President Jimmy Carter imposed an oil import fee.


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