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I read an article about barack obama and the economy on abcnews today. here is the quote from the article.
Obama ridiculed as "outrageous" McCain's support for corporate tax relief which he said would give $1.2 billion in tax cuts to Exxon/Mobile, "a company that just recorded the highest profits in history."
does barack obama have 0 respect for the american people? does he not understand the difference between a profit, and a profit margin? does he not understand that we the people are to blame for being wasteful. THE OIL COMPANIES WOULD NOT MAKE SO MUCH MONEY IF WE DID NOT USE SO MUCH OIL. does anyone understand the simple rule of supply and demand? does he think that exxon is going to happily pass along savings to the consumer after paying more in taxes?
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,761,129 times
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Quote:
Originally Posted by jmarquise
I read an article about barack obama and the economy on abcnews today. here is the quote from the article.
Obama ridiculed as "outrageous" McCain's support for corporate tax relief which he said would give $1.2 billion in tax cuts to Exxon/Mobile, "a company that just recorded the highest profits in history."
does barack obama have 0 respect for the american people? does he not understand the difference between a profit, and a profit margin? does he not understand that we the people are to blame for being wasteful. THE OIL COMPANIES WOULD NOT MAKE SO MUCH MONEY IF WE DID NOT USE SO MUCH OIL. does anyone understand the simple rule of supply and demand? does he think that exxon is going to happily pass along savings to the consumer after paying more in taxes?
Nobody cares about a "profit margin". All we know is that the huge oil companies are making huge profits and they need to be taxed on those profits! Not given a tax break.
Nobody cares about a "profit margin". All we know is that the huge oil companies are making huge profits and they need to be taxed on those profits! Not given a tax break.
so you want oil prices higher then? they already pay a ton of tax. taxing them more isn't going to take money out of their pockets, it's going to take it out of ours.
Nobody cares about a "profit margin". All we know is that the huge oil companies are making huge profits and they need to be taxed on those profits! Not given a tax break.
They do need to be taxed on those profits, but do they need to be taxed at a higher rate then other companies, simply because their final spreadsheet shows a higher value? No, they should be paying the same amount of taxes as a % of their profit as companies like McDonalds, and Target pay.
Thats not whats happening though, the oil industry paid more money in taxes last year then the bottom 75% of american citizens.
They do need to be taxed on those profits, but do they need to be taxed at a higher rate then other companies, simply because their final spreadsheet shows a higher value? No, they should be paying the same amount of taxes as a % of their profit as companies like McDonalds, and Target pay.
Thats not whats happening though, the oil industry paid more money in taxes last year then the bottom 75% of american citizens.
this is where democrats confuse me. I can't believe they actually use this as an argument. I knew barack obama was stupid, but he obviously thinks the rest of the US is too.
Location: By the sea, by the sea, by the beautiful sea
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Just when we thought VooDoo economics was dead.............................................. .
We stabbed it with our steely knives and STILL can't kill the beast
Boo-Hoo, give the poor companies a break, they've got too much business, damn customers are responsible for all the problems, we need to help them out. I'm SURE out of the goodness of their corpororate hearts (now THERE's a GRADE A oxymoron) they've been operating at absolutely bare-bones profits all these years, they're really deserving of corporate welfare. Boo-Hoo, poor babies, all that business, people just won't leave them alone
And let's not stop with oil, let's make sure that the drug companies get some healthy breaks, after all, damn people still insist on getting sick
Just when we thought VooDoo economics was dead.............................................. .
We stabbed it with our steely knives and STILL can't kill the beast
Boo-Hoo, give the poor companies a break, they've got too much business, damn customers are responsible for all the problems, we need to help them out. I'm SURE out of the goodness of their corpororate hearts (now THERE's a GRADE A oxymoron) they've been operating at absolutely bare-bones profits all these years, they're really deserving of corporate welfare. Boo-Hoo, poor babies, all that business, people just won't leave them alone
And let's not stop with oil, let's make sure that the drug companies get some healthy breaks, after all, damn people still insist on getting sick
you know who also benefited from their record profits? the record revenue the federal government took in.
ponder this. amount of income tax paid by the oil companies in 2006, $138 billion. amount of income tax paid by the bottom 75% of americans, $136 billion.
FYI, if prices were true to the supply and the demand the oil companies shouldn't be making more money than they already do.
if americans would cut their use in half, the price would plummet.
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