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by RNC08 from Teen-Age-Wasteland ...

Last Post 24 days, 2 hours Ago


Windfall Oil tax*, will it help you and me ?
May 5, 2008 | 1:19 PM
Category: News
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OK so another bill : HR 5800 has hit the floor of congress to add more tax to the price of oil. Do you think it will help the average American ? And because I live in the real world where we deal in facts and reality could you tell me how?


For historical reference the last time we enacted a *WOT was under Jimmy Carter the tax was projected to “lower the cost of gas and generate 364 billion dollars in tax revenue” well fact is it did not work ...in the 8 years that this tax was in affect it only generated 80 billion dollars and all tho the price of gas did go down (sort of LOL) it was because OPEC ended the embargo and not because we taxed oil ! I will also point out that once the federal government gets its teeth into a new “vein” of our money it is almost impossible to shack them to give up the money , last time it took electing “Ray-Gun to get ride of this particular tax ...any of you see anyone a strong as Regan out there anywhere in our future ? LOL

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Meb452m read my blog
May 5, 2008 | 9:42 PM

Put any name on the bill that you like, it is still wealth redistribution. Used to be a communist characteristic, nowadays it's the Democrats and Republicans fortay ! They do a find job of running American corporations and investments dollars away from America, then cry about a poor job market. The real problem with the responsible use of fossil fuels, solar, geothermal, and nuclear is that our elected FOSSILS dictate the policy under which they are regulated and used.
jfore read my blog
May 5, 2008 | 9:43 PM

When are we going to learn that corporations do not pay taxes, people pay taxes. Corporations owe it to their investors to maintain a reasonable profit level so they will simply pass the tax along as price increases that you and I will have to pay. Oil companies make about $.08 a gallon profit on gasoline. Government makes about $.32 to $.52 a gallon depending on where you are. As far as windfall profit taxes go, when Cartar tried it the oil companies avoided the tax by cutting back on production. Result? Shortages and long gas lines. How soon we forget.
RNC08 read my blog view my photos
May 5, 2008 | 10:07 PM

Yes but the “up side” of Jimmy's little tax was that shell and BP finally got the edge that put them ahead of their American owned counterparts...true it cost thousands of jobs and sank us even deeper into dependency on foreign oil producers but was that not objective all along ? To weaken this country to the point where a few new EPA rules and a jump to imports from China would be able to knock us of the top of the heap and force us to kneel in the face of our UN masters !
Abunai read my blog view my photos
May 6, 2008 | 8:50 PM

Well jfore. You go tell Exxon/Mobile that they aren't actually paying a 40% corperate tax rate then... You are correct however that "big oil" really only made 8 to 9.5% profit last year.

When I explain that to alot of mindless liberals, they usually respond with yea, but the profits went up over 60%! Then I point out that "yea... yet so did overhead and expenses!" You can't just count numbers or percentages without the full perspective!

Apple is around 27% profits, Yahoo in the 20s, Farmers are going from 2 bucks a bushel of corn to getting 9 now, yet I don't hear anyone wanting to windfall "big farmer!" Many are even still receiving subsidies too!

Then it the "yea but everyone is hurt by gas prices!" Well then you go right ahead and windfall tax them, and they will simply slow production down, demand will rise, supply will fall, and then the price will go up even faster!!
Don't fall into the ridiculous antics of the left!! This is nothing but a shakedown from congress! They popped Microsoft and Big Tobbacco in the 90s! Now its big oil after they almost went under just a few years ago!
RNC08 read my blog view my photos
May 6, 2008 | 9:30 PM

..O so you know the rest of the “lines” in this little Rerun we are seeing Abunai ...first Carter I mean Obama/Nancy who ever gets a nice new tax we all pay it and American investors all stop investing in oil so the federal government winds up having to subsidize the whole darn industry and spends three times more of our tax dollars fixing the problem they created than they raise with the tax in the first place !
Is it to early for me to tell every one how we will fix this problem ...no mater who get elected this year ???? Can I tell or should I save the “surprise”
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RNC08

Real “change” is more than skin deep...

Member Since: 8/19/2007


 

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