The Democrats want to tax American oil companies. Sounds great.

But oil companies will start to cut US production. Even if the tax were revenue neutral it would destroy jobs. It would move jobs overseas to avoid the tax.

BTW the only reason this even sounds good is because we are brainwashed. We keep hearing the term "windfall profits tax" used as if it were a good thing. The implication is that it will help us. Why else would the Democrats keep asking for it. But if you think about it - it's just a tax on oil made in the USA.

The next illogical step would be to tax imports. But if you tax oil imports then the operations that need oil will tend to move overseas to get cheap oil.

Lower taxes mean more jobs. China cut taxes and they are growing again.