"windfall" profits by industry
What Is a “Windfall” Profit? A recent WSJ op-ed concludes, “It is in the eye of the political beholder, who is usually looking to soak some unpopular business.”
Obama announced an “Emergency Economic Plan” that would give stimulus checks in $500 and $1,000 chunks to Americans. This plan would be funded by taking “a reasonable share” of “windfall profits from Big Oil.”
But why the oil companies? Their profits (8.3% avg, though Exxon saw a 10% profit margin in 2007) are no more “windfall” than beverages and tobacco (19.1% profit margin), or electronics and appliances (14.5% profit margin), or 59 others that are more profitable. The Oil Industry actually ranks 60th per Yahoo’s sortable list.
