Page 1 of 2 12 LastLast
Results 1 to 10 of 22

Hybrid View

  1. #1 Dems Plan New Taxes On The Oil Industry 
    Senior Member Perilloux's Avatar
    Join Date
    Apr 2004
    Location
    Sweet Home Alabama
    Posts
    555
    Senate to Debate Windfall Profits Tax on Big Oil
    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:
    Reply With Quote  
     

  2. #2  
    gator
    Guest
    Great, that should drive the price of gas down. It really worked well for Jimmy Carter.
    Reply With Quote  
     

  3. #3  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    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.
    Reply With Quote  
     

  4. #4  
    An Adversary of Linda #'s
    Join Date
    Aug 2005
    Posts
    22,891
    Quote Originally Posted by lacarnut View Post
    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 !
    Reply With Quote  
     

  5. #5  
    Senior Member
    Join Date
    Jun 2008
    Posts
    9,056
    Quote Originally Posted by megimoo View Post
    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.
    Reply With Quote  
     

  6. #6  
    Senior Member LogansPapa's Avatar
    Join Date
    May 2008
    Location
    Surf City, USA
    Posts
    3,782
    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.
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
    Reply With Quote  
     

  7. #7  
    Eyelids
    Guest
    Quote Originally Posted by lacarnut View Post
    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.
    Reply With Quote  
     

  8. #8  
    Senior Member MrsSmith's Avatar
    Join Date
    May 2008
    Location
    Kansas
    Posts
    2,391
    Quote Originally Posted by Eyelids View Post
    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
    -
    -
    -

    In actual dollars, President Obama’s $4.4 trillion in deficit spending in just three years is 37 percent higher than the previous record of $3.2 trillion (held by President George W. Bush) in deficit spending for an entire presidency. It’s no small feat to demolish an 8-year record in just 3 years.

    Under Obama’s own projections, interest payments on the debt are on course to triple from 2010 (his first budgetary year) to 2018, climbing from $196 billion to $685 billion annually.
    Reply With Quote  
     

  9. #9  
    Senior Member
    Join Date
    Jun 2005
    Location
    Woodland Park, Colorado, United States
    Posts
    8,563
    Quote Originally Posted by Eyelids View Post
    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.
    Reply With Quote  
     

  10. #10  
    Senior Member Zathras's Avatar
    Join Date
    May 2008
    Location
    San Jose, California
    Posts
    6,247
    Quote Originally Posted by AmPat View Post
    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.
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •