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The oil companies don't have "excessive" profits. Their profit margin is about 10%, which is pretty average for most large companies. The main reason why they have record profits is because gas prices are at record levels, they also have record costs they have to pay in transport, royalties, refining, and so on.
Let's make sure everyone rises to the same level of mediocrity by taxing businesses who are actually profitable and successful. Let's make sure we do the same to people by taxing the crap out of them if they make too much money.
You can only tax the money. Whoever has the money will pay the taxes. You want to shift more income tax burden onto the middle class? Give them more income...
How about we just nationalize the oil industry. After all the government can run this so much better. Just think how CHEAP IT WILL BE. Or maybe we can make it like 5 dollars a gallon to create alt fuels. How about 10 a gallon for the rich those who make over 70K after all you are richer then someone who makes over 15k a year. SO lets just make the poor get it for free after all they deserve it. Those who make the 70k or higher Don't earn it they are rich. In fact how about we nationalize all the industries washington clearly needs to step in and save everything. The cars, the airlines etc etc.
Of course the above post is the ideas of some of our democrats in congress.
But lets look at the facts when it comes to government and oil and anything else government tries to PROTECT, HELP or DESTROY!!!
The auto industry was bailed once before, the airlines were bailed out and have big government assistance.
The government gives money to the oil companies and then oil companies also pay the government more money in taxes then the profits. So how come we arent talking about how much the government makes from the businesses that do really well. In fact they tax more then the business makes in profits.
You can only tax the money. Whoever has the money will pay the taxes. You want to shift more income tax burden onto the middle class? Give them more income...
The money is already taxed.
Some fiscal management is needed. We already know the government can't manage its own money.
How about we just nationalize the oil industry. After all the government can run this so much better.
That's a interesting proposition, 16 of the 20 largest oil companies are nationalized. They include the Saudi Arabian Oil Company (ARAMCO) Qatar Petroleum, Abu Dhabi National Oil Company, Gaazprom (Russia), Kuwait Petroleum Corporation, StatoilHydro (Norway), Petroleos Mexicanos (Mexico), Petroleos de Venezuela CITGO (Venezuela) most of whom provide the majority of oil to the US.
Yeah! Let's stick it to those oil companies! I mean, with our financial and auto industries in shambles, why not destroy yet another American industry while we're at it!
Oil at current levels is not the source of wind fall profits. If you want alternative fuel development at current market fuel costs you may need incentives not windfall taxes. Check out Alaska and the problems Governor Palin is starting to face with the decline in oil and natural gas prices. Do you own any Exxon? How is that trading compared to a year ago. Are you still picking up major capital gains? There is more to the world then just opinion.
lol he won, can't you guys just accept it...sheesh!
Did he win? Or were there just more ballots returned with his name on them.
Accepting that he is president, sure but not if accepting it means to accept what he does without question. The Democrats would just love for everyone to get behind Barry the messiah and not question his actions (or inaction). That would make it so easy for them to not call attention to his stupidity.
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