Where have been Obama’s NEW ideas??? Jimmy attempted as well as unsuccessful with The Windfall Profit Tax. It was wrong then, as well as it’s wrong, now.
“In Apr 1980, Jimmy Carter sealed the “Crude Oil Windfall Profits Tax.”
“The taxation marked down made at home oil prolongation 3 percent to 6 percent since it increasing investment risk.”
WINDFALL PROFITS TAX DISCOURAGES PRODUCTION
http://www.ncpa.org/sub/dpd/index.php?Article_ID=3119
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That proposal is as unamerican as it gets
It is nothing more than Obama pandering for votes
Oil companies are making the greatest profits in their history. They should give something back to the hard-working people who can barely afford to fill their tanks. The oil industry gets all sorts of breaks from the government, let them pay their share.
Because they don’t teach history at Harvard.
Well, Exxon, again, made the most profits in the history of the world this past quarter. Why you might ask? Is it just because gas is that much more expensive and inflation? No, it’s because they increase their profit margin. Obviously it has become more expensive for them to get the finished product due to the value of the US dollar and the increasing WORLD demand. But what it means by them increasing the profit margin is that during this entire gas/oil price crisis, they increased their profit on each gallon at the pump.
The windfall profits tax would discourage them from taking advantage of a key product necessary for the functioning of our country (they are literally price gouging us). This isn’t a new idea, it’s just an idea that is becoming more and more critical for our country. Obama’s overal energy plan is a new combination of ideas that substantially changes the way we currently support Big Oil, it brings us in a new direction that will make us less dependenant and towards a more sustainable energy future.
dude what mccain is proposing isn’t possible because mccain claims he doesn’t want to raise taxes and yet wants to build windfalls which is cost approx 1 trillion
tell us how this country in the economic shamble be able to afford it ?
It is an idea with people who don’t realize that all corporate taxes end up paid for by the citizens who use the poducts it produces. This will simply increase the cost of fuel and energy and actually reduces revenues in most cases.
Given their profits, I’m beginning to think we should take a cue from some of our Latin American brothers and nationalize the oil industry.
Well you got it right, Obama is the second coming of Jimmy Carter with a dark tan. He would use the liberal tax and tax philosophy that caused the 1970s depression and offers a Foreign policy of weakness and talk which gets him endorsed by 9 out of 10 of America’s enemies. The facts are Jimmy Carter was the worse modern President and the economy and Iran Hostage crisis proves it.
During the Democratic Debates he showed his true colors when questioned about raising the “capital gains” tax and even when pointed out that history shows lowering it cause increased tax revenue and economic activity. Finally he said “its only fair to raise it”. He does care about the economy or tax revenue he cares about his liberal ideas of “fairness”. No wonder McCain has caught up to Obama in the polls.
So…a company making a little under $12 billion in 3 months sounds good to you, eh? To most it is simply too much, even if they lie to us and say they are “reinvesting” the profits (yea…righhhhht…). Plus, the american taxpayers are still subsidizing the oil companies by giving them tax breaks…does this make any sense whatsoever?
I think now is a very fine time to nationalize the oil industry…
Because he’s not old enough or smart enough to know the devistating effect that it had on the economy in the 70s. The man is a fu***** idiot who knows nothing about the economy.