“Hugo Chavez in a pants suit.” :-)

When You Tax Profits, You Tax People

The economics behind Hillary Clinton’s anti-business Chavezian threat.

By Larry Kudlow
National Review Online

ExxonMobil just reported the largest annual profit ever by a U.S. company — a staggering $39.5 billion.

I say congratulations, although Hillary Clinton begs to differ.

At the winter meeting of the Democratic National Committee, the senator from New York said, “The oil companies reported the highest profits in the history of the world. I want to take those profits and I want to put them in an alternative energy fund.”

Take? Isn’t that a confiscation of private property? Author P.J. O’Rourke framed it perfectly on a recent edition of CNBC’s Kudlow & Co.: She’s “Hugo Chavez in a pants suit.”