October 1, 1979 Tax Review: The Oil Excise Tax: Another Government Windfall David I. Meiselman David I. Meiselman Download The Oil Excise Tax: Another Government Windfall Print this page Download The Oil Excise Tax: Another Government Windfall Subscribe Support our work The Windfall Profits Tax, writes Professor Meiselman in this issue of Tax Review, will not solve the energy problem; in fact, it will make the U.S. even more dependent on foreign oil. After examining the rationale behind the windfall tax, the author describes this “new and major tax” as a “money machine” designed to finance still larger Federal budgets and to compensate for “embarrassingly large Federal deficits.” Some of Dr. Meiselman’s analysis is addressed to the specifics of the House-passed energy bill (HR 3919) which the Senate and Conference Committee may alter significantly. His main argument, however, focuses on the “windfall profits” tax concept and is very pertinent to the current debate. Was this page helpful to you? Yes! No Thank You! The Tax Foundation works hard to provide insightful tax policy analysis. Our work depends on support from members of the public like you. Would you consider contributing to our work? Contribute to the Tax Foundation Share This Article! Let us know how we can better serve you! We work hard to make our analysis as useful as possible. Would you consider telling us more about how we can do better? Give Us Feedback Share Tweet Share Email Topics Center for Federal Tax Policy Excise Taxes Oil, Gas, and Transportation Taxes Tags Environment and Energy Taxes Transportation Windfall Profits Taxes
