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Obama calls for windfall tax on oil profits as gas prices soar - Yahoo! News (broken link)
This will effectively raise gas prices. It's not like the oil companies won't pass those increases on to the consumers. Congress doesn't have the authority to tell them how much they can charge for their product.
Oil companies can charge anything they want for gas...no one has control over them...chipmunks farting can raise the price of gas....but Obama is trying to recoup some money for us.
As he is here:
Yet Another Levin Bill To 'Stamp Out Offshore Tax Evasion By Americans']
By by Leroy Baker, Tax-News.com, New York20 February 2007[/SIZE][/SIZE]
A bipartisan trio of US lawmakers have introduced legislation into the Senate that targets the $100 billion in revenues they claim is drained from the US Treasury every year by offshore tax haven and tax shelter abuses.[/SIZE]
The 'Stop Tax Haven Abuse Act' is being backed by long-time offshore tax activists Sen. Carl Levin (D-Mich.) and Sen. Norm Coleman (R-Minn) the Chairman and senior Republican of the Permanent Subcommittee on Investigations. It is also being supported by Sen. Barack Obama, (D-Ill).
[SIZE=2]For more than four years, Levin and Coleman have led an in-depth Subcommittee investigation into offshore tax havens, abusive tax shelters, and the professionals who design, market, and implement these tax schemes. Citing experts, they have estimated that up to $70 billion in tax revenues is lost every year through individual offshore tax avoidance, and an additional $30 billion from corporate offshore tax planning initiatives. Abusive tax shelters add tens of billions of dollars more, they said.""[/SIZE]
[SIZE=2][/SIZE]
. Hillary wants to nuke Iran. This will not help the Oil problem.
Maybe not but it sure will help to achieve world peace. At least in the right direction anyway. Especially if a few of those bombs go a tiny bit astray?
Let's be clear - Obama did not introduce this legislation. He is merely "supportive" of it.
How about you list all the other co-sponsors of this legislation. It might prove interesting to see if there are some Republicans "supportive" of it also
Let's be clear - Obama did not introduce this legislation. He is merely "supportive" of it.
How about you list all the other co-sponsors of this legislation. It might prove interesting to see if there are some Republicans "supportive" of it also
Tried reading????
I NEVER said he introduced this legislation now did I?
Try really hard not to lie.
AND if you could possibly READ my post you'd see Senator Coleman, a Republican, mentioned.
I take it you haven't paid any taxes in the last 7 1/2 years and the war in Iraq was paid for by the ...Chinese????
I would have to say by your response you do not own a buisness or have any large investments. Someone probably takes your taxes out for you so you have no idea how taxes can affect your pocket. When I was in college I was a Dem. Then I got to the real world and started making some money and I woke up quickly. I would prefer Obama stay in Ill as I don't live there and he would not affect me as much. And raising the capital gains tax helps no one!
Exxon Mobil alone pays more in taxes than the lower 50% of all individual tax payers combined. Facts, they are a nuisance sometimes! The one thing Libs like Obama understand is that the oil companies are a massive revenue source, they just have to keep Demonizing them so the misguided and uninformed will continue to support their larceny!
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