Hell with oil companies. Congress is the one lying. The democrat led congress said they had a common sense plan to lower prices in 2006. Been two
years and haven't seen it yet.
Now they want to make me believe that the oil companies will pay for this 1000 dollars they want to send me through a windfall tax. I guarantee you
that the tax bill will wind up falling in the hands of the American taxpayers in the form of higher prices.
You said it yourself we give the money to the oil companies and they pay their corporate tax bill with part of it, expenses with the other, and what
's left is their profit. This tax they pay is separate from the 18.5 cents federal gas tax and the individual state gas tax. The government is also
making a killing in the oil business.
Bottom line if Congress tax the oil companies too much all they have to do is raise prices to cover the increase in taxes. They also have option of
moving overseas in which case we lose valuable jobs and less taxes collected by government.
If the whole countries in a depression, im sure alot of those stimulus checks will get signed on over to drug dealers across the country, duh, what a
waste... should let people solve their own problems instead of injecting the economy with free money, I think that guys an idiot... Instead of making
people plan for the future he just cuts corners and hands out free money hoping its all going to get better, nope....
This is just more buying votes neither Obama nor McCain are talking about the
empire that's costing the american people not only money but our freedom as well.You can not make $50,000 a year and spend $1000 a day.Neither can
Obama made that 'windfall profits tax' on oil companies back on June 9th...
evidently capitol hill is turning a deaf ear on his suggestion.
a $500 per person or $1k per family, 1 time check, to help those with heating bills to offset the higher price of fuel (oil, electric, coal furnaces,
etc) this winter...
and the mega fuel suppliers have 5 years to pony up their portion of their 'windfall profits' that is going to fund this emergency rescue $$.
this candidate is off in the corner flapping his gums, the proposal is lucridious
+++++now, whats interesting is that Obama sees a dire need for an immediate public works program, in rebuilding infrastructure/school/etc.
What employment stats is he reading, ?
the junk that the Dept of Labor Statistics has out for July shows that only 5.7% unemployment (up .2% from June '08) and that stat is hardly cause
for such alarm!
Obama is privy to the actual unemployment stats, like the U6 report that the same Dep of Labor puts out, which has the more realistic unemployment
number at 9.7%... which is still behind the observable no job rate of 16% that other credible sources estimate is closer to reality.
Obama the person is Real,
Obama the politician is just an Abstraction
Admittedly, I didn't read this entire post because, well, alot of it is crap and shows a basic lack of knowledge WRT many things. Here are a few
points that I just want to throw out there.
Why are we demonizing the oil companies? Since when is it a bad thing, in a capitalist society, to make money? Oil companies are in the business
to make money, and hey make a product that everyone needs, everyone has, and if they didn't make that product we would be unable to function as a
modern society. Much of their money goes into meeting environmental and tax regulations we've placed on ourselves. You'd have a point if they were
price gouging, taking advantage of the situation, but there is no evidence of that. You should be thanking them for the work that they do, not
cursing them for making an 8% profit on their product. Microsoft makes 18%, and Coca-Cola makes 20% profit. What is unfair about an 8% profit, which
is below the national average, that 'Big Oil' makes?
Gasoline taxes are the second largest contributor to the price paid at the pump, after crude oil cost. In 2004, Major U.S. Oil Companies’
Domestic Profits were $42.6Billion (and not all of that was gas sales). Taxes were $58.4Billion total, $24.2B Federal and $34.2B State. For every
gallon of fuel that you buy, the Government gets over 18 cents, vs 13 cents to the oil companies, and the government doesn't do anything. The
solution is not to further tax the already overtaxed oil industry? It has been tried. Study a little history, and look at the gas shortage in the
70's. Back then, they also introduced a windfall profits tax and it was disastrous. It wasn't until production increased that prices fell. Supply
and demand drives prices, it's just that simple.
Bush has many problems, The biggest being the growth of government in my opinion, but you can't blame him for the oil prices. For decades the
democrats and environmentalists have blocked any attempt to increase domestic production. That's so well known I'm not even going to argue the
point unless I have to. With bush specifically, below are a few facts:
$1.49 - 2001 price per gallon of gas when Bush was sworn in as President
$2.33 - 2007 price per gallon of gas when Nancy Pelosi was sworn in as Speaker
$4.04 - July 2008 Price Per gallon - Close to double in 1-1/2 years.
0$ - Percentage of man-made global warming proven to date
I throw in global warming because I believe that it is a strategy on the part of the Democrats in Congress to increase gas prices as much as possible
because they want the country to transition from Peteroleum to alternate energy. www.fcnl.org... www.realclearpolitics.com...
In Nancy Pelosi's words, "I'm trying to save the planet, I'm trying to save the planet." Fox News warning for the haters.
Big oil has been screwing the little guy for decades. Exxon-Mobil, formerly Standard Oil of California, has recorded record profits at our expense,
refused to allow alternatives to emerge ( electric car), has polluted our environment and got off literally scot free( Exxon Valdese disaster), and
has been controlled by the Rockefeller family, known globalists who have been documented to want a one world government and reduction of the world's
population via genocide and probable 911 inside organizer. They will dispose of Obama if he tries to take their profits and start a hain reaction
leading us into the NWO, IMHO.
It seems like Obama's starting to get desperate. Now he's trying to bribe the voters!
What I'd like him to answer is this: If putting more money in the citizens' hands is what it takes to improve the economy, why do you want to raise
taxes in the first place? Rather than sending out these bogus stimulus checks, how about shrinking government and reducing taxes? It's a lot simpler
and it takes power and money away from the incompetent government and gives it to the people who actually know what to do with it.
If you're worried about the government's deficit, you should support the eradication of the many wasteful social programs the federal government
pours money into. The only things they really ought to spend our tax money on is national defense.
You're overstating the problem, if there even is one. Unemployment isn't high at all. The employment rate is, what, 94 percent?
Sure, outsourcing and especially illegal immigration are causing trouble for the lower class. But whenever we talk about sealing the borders and
punishing the illegals and those who hire them, the same people who claim to stand up for the poorest Americans are the ones preventing solutions.
Why? Well, if those people didn't feel dependent to their government, they'd vote differently.
Are you serious? Oil companies are obligated to research alternative energy? How do you figure, since they are an OIL company? If I'm a sandwich
maker, I'm not going to design shoes, and if I'm an architect, I'm not going to cure disease. How do you figure an oil company is responsible for
solar power, or wind? Step outside of yourself for a minute and rethink how capitalism works, and then readress what you just said. Myself, I hope
they get richer and richer, along with everyone else. That's what capitalism is.
To the guy talking about the shrinking middle class, you are correct, the middle class IS shrinking, along with the lower class. According to
The notion that the middle class is shrinking is controversial because the economic boundaries that define the middle class vary. Households that earn
between $25,000 and $75,000 represent approximately the middle half of the income distribution tables provided by the U.S. Census Bureau. Over the
past two decades, the number of households in those brackets decreased by 3.9%, from 48.2% to 44.3%. During the same time period, the number of
households with incomes below $25,000 decreased 3.5%, from 28.7% to 25.2%, while the number of households with incomes above $75,000 increased over
7%, from 23.2% to 30.4%"
I will reiterate, the government takes in more money from oil companies in taxes than the oil companies make. There is nothing right about that
whatsoever. Gas is more expensive because of those taxes, and any additional taxes placed on the oil companies will make the cost even higher. That
is a guarantee.
And again about their "excess profits". The following is from a Wall Street Journal editorial, explaining what I was saying earlier in a much
better way: "What is a 'windfall' profit anyway? ... Take Exxon Mobil, which on Thursday reported the highest quarterly profit ever and is the
main target of any 'windfall' tax surcharge. Yet if its profits are at record highs, its tax bills are already at record highs too. Between 2003 and
2007, Exxon paid $64.7 billion in U.S. taxes, exceeding its after-tax U.S. earnings by more than $19 billion... Maybe they have in mind profit margins
as a percentage of sales. Yet by that standard Exxon's profits don't seem so large. Exxon's profit margin stood at 10% for 2007... If that's what
constitutes windfall profits, most of corporate America would qualify. Take aerospace or machinery -- both 8.2% in 2007. Chemicals had an average
margin of 12.7%. Computers: 13.7%. Electronics and appliances: 14.5%. Pharmaceuticals (18.4%) and beverages and tobacco (19.1%)... 51 Senators voted
to impose a 25% windfall tax on a U.S.-based oil company whose profits grew by more than 10% in a single year... This suggests that a windfall is
defined by profits growing too fast.... But if 10% is the new standard, the tech industry is going to have to rethink its growth arc. So will LG, the
electronics company, which saw its profits grow by 505% in 2007. Abbott Laboratories hit 110%... Berkshire Hathaway. Warren Buffett's outfit pulled
in $11 billion last year, up 29% from 2006. Its profit margin -- if that's the relevant figure -- was 11.47%, which beats out the American oil
majors. Or consider Google, which earned a mere $4.2 billion but at a whopping 25.3% margin... General Electric profits by investing in the
alternative energy technology that Mr. Obama says Congress should subsidize even more heavily than it already does. GE's profit margin in 2007 was
10.3%, about the same as profiteering Exxon's."
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