Tax Oil Companies and Give Tax to Americans

[Quick Enough]

Originally Posted by beach43ofus

"Tax Oil Companies and Give Tax to Americans"

For 2020, there were NO profit DOLLARS to tax in the energy sector...the sector LOST money!

https://www.cfajournal.org/average-p...-and-examples/


Now, let's shift forward in time to look at the profit PERCENTAGES by industry sector for year ening Q3 2021:

(you have to scroll down a ways to see the 4 charts below the text)

https://www.cfajournal.org/average-p...-and-examples/

-Energy sector's gross profit margin (rank 6th)

-Energy sectors operating profit margin (rank 10th)

-Energy sectors pre-tax profit margin (rank 10th)

-Energy sectors net profit margin (rank 8th)


As the charts show, it would be MUCH better to tax financial (big banks/insurance) & tech, & give the $'s to us, than it would be to tax energy.

Financial & Tech are TWICE as profitable as energy. The energy sector even LOSES $ some years, so there'd be nothing to tax.

The Libs have an agenda to tax the less profitable energy sector, while protecting the more profitable financial (banks & insurance) & tech sectors.

" it would be MUCH better to tax financial (big banks/insurance) & tech, & give the $'s to us"

ALL taxes are paid for by the BUYERS/consumers.
I know details, details, details.


The ignorance of how business works by some never ceases to amaze me when they come up with these "ideas"!

[Boss]

Originally Posted by Nodpete

Do you honestly belive that the government will tax anything and pass it on to the people ? This is as stupid as those fools who think there should be a "carbon tax" on businesses and that it will be passed on to the people. The govenment will tax them and keep 99% of the taxes and give you a penny. How can you be so stupid !! When has the government ever distributed any collected tax money to the citizens ? And don't tell me that the "stimulus checks" were collected tax monies. They were newly printed dollars that added to the US debt and started the latest inflation cycle.

Does any one here know that residents of Alaska receive a check each year from the State from Oil tax revenue.

[beach43ofus]

Originally Posted by Boss

Does any one here know that residents of Alaska receive a check each year from the State from Oil tax revenue.

Yes, I'm aware of that. That cost is evetnually passed down to energy consumers.

The oil exploration & drilling companies done wind up paying it.

[Moth]

Anyone remember Hillary stating the same thing on the campaign trail?

Standing there with her rictus grin promising to take that money and give it the people. And all those ignorant fools clapping and cheering like a Sunday morning revival meeting.

[crone]

Originally Posted by Goodnight

Assuming that is correct that doesn't sound like much of a gain or loss either way. Besides much of the tax cuts went back into stock buy backs not price decreases at the pump. Now they are making a windfall at the pump for the same production costs.

And carrying those 'reserves' on the unexplored leased federal land on their books. Why would an oil company pay to lease federal land never intending to drill?