Blather continues to pour out of D.C. about imposing a “windfall profits tax” on oil companies to supposedly punish all those fatcat executives for earning too much money. If such a tax is enacted, however, it will amount to a raid on private pensions, among other things — the kind of thing those ENRON executives were prosecuted for. A windfall profits tax will reduce the return on investment in all companies subject to it, imposing a capital loss on all investors in those companies. Pension funds typically include many shares of energy industry stocks, which of course have been doing … Continue reading Congressional Thieves Are Eyeing Your Pension