Just wondering if there are any opinions positive or negative in light of gas prices and the strain on our economy and the emotional strain on our citizens.
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There are no weapons of mass destruction in Iraq, Chuck Norris lives in Houston.
Either the United States will destroy ignorance, or ignorance will destroy the United States. – W.E.B. DuBois
Re: Senate vote on Big Oil windfall tax and tax br
The oil companies are making a profit. If they do not make a profit there will be no reason for them to be in business.
Are they making too much? I don't know. Do executives of oil companies get higher pay than executives of other large companies or of people in the sports or entertainment business? Should we have some kind of law that forbids anyone in this country from receiving wages and benefits that are higher than $100,000 per year and then bring up the minimum wage so everyone who works is equal and makes $100,000 per year.
Any tax that the oil company has to pay will be added to the cost of the product. It will be just passed on to the consumer. Tax increases will cause gas prices to increase accordingly. So, if your Representative or Senator votes for a tax increase for the oil companies, then he/she should be removed from their gravy type government job.
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Sam also known as Jim Ellis
Apostolic in doctrine
Pentecostal in experience
Charismatic in practice
Non-denominational in affiliation
Inter-denominational in fellowship
Re: Senate vote on Big Oil windfall tax and tax br
I thnk the bill would not have had the desired effect. The percentage of the retail price of gas that oil companies make as profit is smaller than most profit margins. It has grown a lot because the overall price has gone up so much.
I believe I saw the statistic that the Federal and state governments take more than double in taxes on gasoline what the oil companies make per gallon.
The solution is domestic drilling including ANWAR in Alaska (which should have been done 20 years ago), offshore of CA and FL, and in Montana and whichever one of the Dakota's they recently said has oil fields with reserves equal to Saudi Arabia's.
The only way to get the price down is to increase supply - not tax oil companies!
Re: Senate vote on Big Oil windfall tax and tax br
Makes sense to me, if they tax them more, then the oil companies have a new excuse to raise prices even more. I do think special interest groups have a big hold on politicians.
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If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
2 Chronicles 7:14 KJV
He hath shewed thee, O man, what is good; and what doth the LORD require of thee, but to do justly, and to love mercy, and to walk humbly with thy God? Micah 6:8 KJV
Beloved, now are we the sons of God, and it doth not yet appear what we shall be: but we know that, when he shall appear, we shall be like him; for we shall see him as he is. 1 John 3:2 KJV
Re: Senate vote on Big Oil windfall tax and tax br
What about this part about the tax breaks. Do you feel that the same idea applies?
In addition to the proposed windfall profits tax, the Democrats' bill also would have rescinded tax breaks that are expected to save the oil companies $17 billion over the next 10 years. The money would have been used to provide tax incentives for producers of wind, solar and other alternative energy sources as well as for energy conservation.
In an attempt to dampen oil market speculation, the legislation would require traders to put up more collateral in the energy futures markets and would provide authority to regulate U.S.-based trading in foreign markets. And it would make oil and gas price gouging a federal crime, with stiff penalties of up to $5 million during a presidentially declared energy emergency.
__________________
There are no weapons of mass destruction in Iraq, Chuck Norris lives in Houston.
Either the United States will destroy ignorance, or ignorance will destroy the United States. – W.E.B. DuBois
Re: Senate vote on Big Oil windfall tax and tax br
Quote:
Originally Posted by tstew
What about this part about the tax breaks. Do you feel that the same idea applies?
In addition to the proposed windfall profits tax, the Democrats' bill also would have rescinded tax breaks that are expected to save the oil companies $17 billion over the next 10 years. The money would have been used to provide tax incentives for producers of wind, solar and other alternative energy sources as well as for energy conservation.
In an attempt to dampen oil market speculation, the legislation would require traders to put up more collateral in the energy futures markets and would provide authority to regulate U.S.-based trading in foreign markets. And it would make oil and gas price gouging a federal crime, with stiff penalties of up to $5 million during a presidentially declared energy emergency.
I pretty much don't believe any of it til it happens from either side. The problem is they always attach something else to their bills.
__________________
If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
2 Chronicles 7:14 KJV
He hath shewed thee, O man, what is good; and what doth the LORD require of thee, but to do justly, and to love mercy, and to walk humbly with thy God? Micah 6:8 KJV
Beloved, now are we the sons of God, and it doth not yet appear what we shall be: but we know that, when he shall appear, we shall be like him; for we shall see him as he is. 1 John 3:2 KJV
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