It would be unfair and absurd to tax workers at different rates, based merely on the industry they work in. Similarly, it makes no sense to tax an industry punitively based on the volatility of its profits. Oil will always be a boom-or-bust business.
The U.S. debate over which group of people -- workers, shareholders or consumers -- ends up paying the bulk of these corporate taxes will go on forever. But the undisputed and most important point is that individuals pay taxes, not corporations. Therefore, attempts to punish oil companies for "obscene" profits by instituting additional taxes ultimately cause all of us to pay the price. Consumers will pay more at the pumps, and the five oil-producing states that suffered in the oil bust, including hard-hit Louisiana, won't benefit from the boom.
