Sen. Repubs halt Big Oil Windfall Taxes

[Pauls' Revere]

This ought to leave a vile taste in everyones mouth come election time. Please pass on to all you know and make sure the Republican Party pays dearly.

http://news.yahoo.com/s/ap/20080611/ap_on_go_co/congress_oil_profits

Enough of this BS !!!
:mad:

[Fox McCloud]

This ought to leave a vile taste in everyones mouth come election time. Please pass on to all you know and make sure the Republican Party pays dearly.

http://news.yahoo.com/s/ap/20080611/ap_on_go_co/congress_oil_profits

Enough of this BS !!!
:mad:

you mean you're actually for taxing oil companies to death?

I'm more upset at the 7 Senators who voted "yes" for it than anything else....the rest of the GOP senators are right--this is going to hurt Americans more than it'll help them (it won't help them any).

90%+ of the rising cost of oil is the devaluation of the dollar...that's the reason oil company's profits go up--they charge more so they make the same each year in terms of purchasing power....on average, the oil industry only makes 8-11% profit margins anyways, nothing to exactly brag about.

I would have pushed to eliminate taxes on the oil companies (subsidies too though) to ease the pain Americans experience at the pump.

[electronicmaji]

Yes, we need to fix the main problems. The CEO crooks and their huge paychecks that cause the oil companies to need such a increase in profits; also the sale of oil futures.

[kombayn]

^How are they crooks? They employ millions of people. They have to make profits otherwise they go out of business. Supporting Ron Paul means you should support a free market which means you support private companies which means you should support oil companies. Not hard to figure out. We need to solve the devaluation of the dollar.

[Fox McCloud]

Yes, we need to fix the main problems. The CEO crooks and their huge paychecks that cause the oil companies to need such a increase in profits; also the sale of oil futures.

The oil CEOs have little to nothing to do with it...as I said, most oil companies have a dismal profit margin of 8-11%.

Also, if the value of the dollar goes down every year, and the oil companies raise their prices each year so they earn the same amount (adjusted for inflation), then of course their "profits" are going to go up...of course, if you adjust those profits for inflation, their gains will not be much, and as a matter of fact, in some cases, they've probably lost some.

The problem is devaluation of the dollar, the enviro-nazis who prevent new refineries from coming in, and high taxes.

There is some increase in demand, but this only accounts for, at most the 10% increase in oil prices (and some say it's less than this....and others say it's 0%).

Above all, though, the #1 cause in the 'rising price' of oil and gasoline is inflation/devaluation of the dollar....if you price oil in gold, the price has been the same for the past 50-60 years.

[Indy4Chng]

So you want the GOVERNMENT to control the price of gas and oil company profits? Somehow I thought this was a smaller federal goverment movement. Maybe I'm on the wrong forum.

[pinkmandy]

What good is a windfall tax to any American? Let's see...the oil companies lose profits so they find another way to cut costs like decreased wages, hiring, outsourcing jobs AND the govt gets more tax money to waste on heaven knows what AND investors/retirees who depend on their investment get screwed so who pays the real price? Average Americans.

No company is going to willingly take a loss. The cost of their loss will be made up via consumer wallets. The only winner here is the govt who gets to spend more money and we know how well they manage their budget.

[LibertyOfOne]

Yes, we need to fix the main problems. The CEO crooks and their huge paychecks that cause the oil companies to need such a increase in profits; also the sale of oil futures.

Those who earn a profit off of oil are those that have 401Ks and retirement plans. So let's tax a publicly traded company even more!!!! NOT

[danberkeley]

Yes, we need to fix the main problems. The CEO crooks and their huge paychecks that cause the oil companies to need such a increase in profits; also the sale of oil futures.

Crooks? Maybe. Huge payments? Compare to you and me: Yes. Compared to other CEOs: no. How is that oil companies "need such a increase in profits"?

[danberkeley]

Those who earn a profit off of oil are those that have 401Ks and retirement plans.

And in Arab countries, especial UAE where every citizen (might be men only) gets $23,000 every year on royalties from oil.

[LibertyOfOne]

This ought to leave a vile taste in everyones mouth come election time. Please pass on to all you know and make sure the Republican Party pays dearly.

http://news.yahoo.com/s/ap/20080611/ap_on_go_co/congress_oil_profits

Enough of this BS !!!
:mad:

You do that Ron Paul would vote against this shitty bill, right?

[IRO-bot]

You do that Ron Paul would vote against this shitty bill, right?

Yeah he would. We must always look further down the road and wonder. What could go wrong with this bill? Will they stop at oil? If not, what incentives do company's have to work hard and earn profits is the govt will steal it anyways.

Liberty tea bag picture guy. Why don't you look into Pharma profit margins, then.....educate yourself some more. We know you are a commie-libertarian. Whatever that is.

[angelatc]

Yes, we need to fix the main problems. The CEO crooks and their huge paychecks that cause the oil companies to need such a increase in profits; also the sale of oil futures.

The government makes far more money taxing gas than the oil company earns from selling it.

Leave people's paychecks alone.