Windfall Whackjobs.

A bunch of labour MPs (apparently over 80 of them) are calling on Gordon Brown to impose a windfall tax on energy companies.

Attacking "obscene profits" and other such left wing favourites, they are arguing that the government should retroactively decided to take another bite of the already taxed profits of the energy companies and use the money raised to subsidise those they consider worthy. In typical moonbat fashion however they fail to consider the implications of their proposal.

The money to pay the tax has to come from somewhere, and that is either from increased charges to the customers, eliminating the benefit of the handouts, or from a reduced return to shareholders.

The latter might not seem so bad, until one considers that the biggest shareholders in privatised utilities tend to be pensions funds, and thus any reduction in shareholder returns adds yet another blow to pensions to those they have already suffered over the past ten years.