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View Full Version : Dems Plan New Taxes On The Oil Industry



Perilloux
06-10-2008, 07:50 AM
Senate to Debate Windfall Profits Tax on Big Oil (http://www.foxnews.com/story/0,2933,364846,00.html)
Tuesday, June 10, 2008
Associated Press

WASHINGTON — With gasoline prices topping $4 a gallon, Senate Democrats want the government to grab some of the billions of dollars in profits being taken in by the major oil companies. Senators were to vote Tuesday on whether to consider a windfall profits tax against the five largest U.S. oil companies and rescind $17 billion in tax breaks the companies expect to enjoy over the next decade.

"The oil companies need to know that there is a limit on how much profit they can take in this economy," said Sen. Richard Durbin of Illinois, the Senate's No. 3 Democrat, warning that if energy prices are not reined in "we're going to find ourselves in a deep recession."

But the Democrats are going to have to overcome staunch Republican opposition to any new taxes on the oil industry. The five largest U.S. oil companies earned $36 billion during the first three months of the year.

Majority Leader Harry Reid, D-Nev., will need 60 votes Tuesday to proceed with the oil tax legislation in the face of a threatened GOP filibuster. If he doesn't get 60, he likely will pull the bill from the floor. Only last week, Reid was forced to withdraw a measure aimed at addressing global warming, falling short of the 60 votes needed to advance that legislation.

Hope this dies in the senate.

:mad:

gator
06-10-2008, 08:01 AM
Great, that should drive the price of gas down. It really worked well for Jimmy Carter.

lacarnut
06-10-2008, 10:09 AM
The Repubs will block this tax increase on the oil companies. It appears that these mindless Democraps want to push the price up to $10 per gallon.

megimoo
06-10-2008, 10:22 AM
The Repubs will block this tax increase on the oil companies. It appears that these mindless Democraps want to push the price up to $10 per gallon. Those California "No-Drilling off Our Coast ' Liberal/Maoists like Feinstein and that Midget Blouser Boxer are in way over their heads !

Elspeth
06-10-2008, 10:35 AM
Those California "No-Drilling off Our Coast ' Liberal/Maoists like Feinstein and that Midget Blouser Boxer are in way over their heads !

You know, I'm waiting for America to get so poor that foreign companies will own our beaches. Then there will be drilling but none of the money will come to us.

LogansPapa
06-10-2008, 12:11 PM
Taxing the oil companies will just hit families making less than $50k per year to the greatest degree.

Those using public transit may have to pay an extra quarter per ride and people of means will simply stop or curtail the purchases of some non-essential items. The lower-middle-class will carry the burden and the CEO’s of these corporations will just laugh.

jediab
06-10-2008, 03:20 PM
Taxing the oil companies will just hit families making less than $50k per year to the greatest degree.

Those using public transit may have to pay an extra quarter per ride and people of means will simply stop or curtail the purchases of some non-essential items. The lower-middle-class will carry the burden and the CEO’s of these corporations will just laugh.

And so will the Dems as they collect more tax money to spend.

Ranger Rick
06-10-2008, 05:45 PM
And so will the Dems as they collect more tax money to spend.

There will not be any more money, as the economy tanks, tax revenue will fall. And in the end there will be even less.

Eyelids
06-10-2008, 06:01 PM
The Repubs will block this tax increase on the oil companies. It appears that these mindless Democraps want to push the price up to $10 per gallon.

when the democrats have the presidency and both houses the republicans wont even be able to block traffic.

MrsSmith
06-10-2008, 07:48 PM
The Repubs will block this tax increase on the oil companies. It appears that these mindless Democraps want to push the price up to $10 per gallon.

They do. They've totally bought into the junk science of global warming, and think they can save the planet by tanking our economy. Not only will they get all those vehicles off the road, with any luck they can actually induce a starvation and get rid of a bunch of extra humans. Straight-line communists.

MrsSmith
06-10-2008, 07:49 PM
when the democrats have the presidency and both houses the republicans wont even be able to block traffic.

And your wonderful college education will provide you with a nice spot in the nearest soup line, 'lids. :D

Eyelids
06-10-2008, 08:42 PM
They do. They've totally bought into the junk science of global warming, and think they can save the planet by tanking our economy. Not only will they get all those vehicles off the road, with any luck they can actually induce a starvation and get rid of a bunch of extra humans. Straight-line communists.

$10/gallon gasoline will force us to look into new fuels that dont have a doomsday. I dont see whats wrong with that, market dictates change.

nightflight
06-10-2008, 09:45 PM
$10/gallon gasoline will force us to look into new fuels that dont have a doomsday. I dont see whats wrong with that, market dictates change.

And what fuels will that be? Drilling for our own oil will buy us TIME. Liberals don't want that because of their irrational hatred of the internal combustion engine.

Constitutionally Speaking
06-10-2008, 10:24 PM
$10/gallon gasoline will force us to look into new fuels that dont have a doomsday. I dont see whats wrong with that, market dictates change.

That is not the market at work - it is the government playing favorites based on psuedo science and ideology.

There IS NO doomsday coming because we use oil as our primary fuel. That is a flat out lie.

Eyelids
06-10-2008, 10:36 PM
That is not the market at work - it is the government playing favorites based on psuedo science and ideology.

There IS NO doomsday coming because we use oil as our primary fuel. That is a flat out lie.

I dont know if you've noticed oil tripling in price over the last 8 years?

Eyelids
06-10-2008, 10:38 PM
And what fuels will that be? Drilling for our own oil will buy us TIME. Liberals don't want that because of their irrational hatred of the internal combustion engine.

it will take 10 years to get oil from ANWR to your engine. I dont want to wait 10 years for the calvary to come.

patriot45
06-10-2008, 10:42 PM
I dont know if you've noticed oil tripling in price over the last 8 years?

If it triples again, life as you know it will end.

By the way, I thought most of the "middle class" that the libs are cyring about basically have thier investments, like 401k's and retirement funds with oil companies as one of thier bets, tax the snot out of them and who else do you hurt?

patriot45
06-10-2008, 10:45 PM
it will take 10 years to get oil from ANWR to your engine. I dont want to wait 10 years for the calvary to come.

You libtards are nuts, it took 40 years to start to get out from what you did then. We should have been harvesting our resources 30 yrs ago. A lib plan has never worked. But I do realize, that is because the right libs havent been running things yet.:rolleyes:

AmPat
06-11-2008, 05:48 AM
when the democrats have the presidency and both houses the republicans wont even be able to block traffic.

So in your small little mind this possibility will fix all the USA problems? There is a good reason we have a bicameral legislature. I suggest you be careful what you wish for.

Back to the topic; windfall profits will do nothing but take money out of your shallow pocket and put it in two places.
1. Gov't hands to be further wasted by Congress critters and
2. Those "EVIL" oil companies.

Do you honestly think the Oil companies will absorb a punitive tax and say "Oh well, we tried to gouge you and you guys stuck it to us?"

The punitive windfall profits tax will pass to consumers quicker than crap through a goose. Really Junior, demand a refund from your college for the failed attempt to educate you.

Zathras
06-11-2008, 07:28 AM
So in your small little mind this possibility will fix all the USA problems? There is a good reason we have a bicameral legislature. I suggest you be careful what you wish for.

Back to the topic; windfall profits will do nothing but take money out of your shallow pocket and put it in two places.
1. Gov't hands to be further wasted by Congress critters and
2. Those "EVIL" oil companies.

Do you honestly think the Oil companies will absorb a punitive tax and say "Oh well, we tried to gouge you and you guys stuck it to us?"

The punitive windfall profits tax will pass to consumers quicker than crap through a goose. Really Junior, demand a refund from your college for the failed attempt to educate you.

That's what little know-nothings like the gutless liar Eyelids forget. Corporations don't pay taxes...any operating costs, which taxes are a part of, are passed on to the consumer in the price of the product. So, if the Democrats are successful in increasing taxes on the oil companies, the ones who will really be hurt are the poor and middle class people of the country.

Constitutionally Speaking
06-11-2008, 07:38 AM
it will take 10 years to get oil from ANWR to your engine. I dont want to wait 10 years for the calvary to come.


Yep and you libs have been saying that for MORE than 10 years!!!! How long are we going to listen to idiots saying "it'll take 10 years before we get any oil"???

If we hadn't listened to the leftist idiots we WOULD HAVE the oil TODAY - and not just ANWR. We would be paying @ $2.00 a gallon for gasoline if we had simple ignored the idiots on the left and drilled where we have the oil.

lacarnut
06-11-2008, 09:51 AM
So in your small little mind this possibility will fix all the USA problems? There is a good reason we have a bicameral legislature. I suggest you be careful what you wish for.

Back to the topic; windfall profits will do nothing but take money out of your shallow pocket and put it in two places.
1. Gov't hands to be further wasted by Congress critters and
2. Those "EVIL" oil companies.

Do you honestly think the Oil companies will absorb a punitive tax and say "Oh well, we tried to gouge you and you guys stuck it to us?"

The punitive windfall profits tax will pass to consumers quicker than crap through a goose. Really Junior, demand a refund from your college for the failed attempt to educate you.

That was already tried in CA; the voters defeated it because the legislation stated that the increase could not be passed on to the consumer. I guess the voters opened their eyes and saw the government for what it was. Money grabbers and liars. Liberals and blacks like Eyellids closed are so damn stupid.