Can anyone explain how raising taxes on oil companies will help us?

[Nathans_Dad]

Ok, you guys have to learn me somethin here.

It seems the Democrats are again pressing a bill which would eliminate tax breaks for oil companies (isn't that the same as raising their taxes?) and instill a "windfall" tax as well.

To me this seems like the same thinking that gives us minimum wage increases. Raise taxes on the oil companies and that money is going to be transferred directly to the pump. How does that help us again???

[legion]

The more I think about it, the more I think these tax proposals are about vengeance and not actually solving anything.

This from the same party that holds the welfare recipient up as virtuous and the successful as greedy.

Punish the prosperous, reward the lazy...

[Jims5543]

No.

[VincentVega]

Dont you see? We tax the 'evil rich' because they unfairly take $$ from everyone else.

[slakjaw]

I dont think its going to help anyone.

Maybe the dems just want a piece of the pie?

[speeder]

How on earth do you justify corporate welfare in the form of tax breaks for Exxon-Mobil when they are shattering profit records every quarter?? I could see if they needed the help to operate since they sell a staple commodity of the U.S. economy, but why should American tax-payers subsidize their un-*******-believable bottom line?

You ditto-heads are really radical extremists, you know that?

[pwd72s]

Originally Posted by chris Martin

dont You See? We Tax The 'evil Rich' Because They Unfairly Take $$ From Everyone Else.

Bingo! (edit: Tongue firmly in place here...only sorta, but chris nailed it. The media and the libs want us to hate the rich. But then, how many here got a job offer from somebody on welfare?) Our host offers jobs from time to time. But you know, if his incentive to profit were removed? Well, we wouldn't be here discussing this stuff. So guys, Wayne tried owning a Ferrari...how many here think he's evil? I don't...

Who owns "big oil"? Common folks like myself. That's what "greedy corporations" are all about. Pleasing stockholders by making (gasp!) this dirty thing called profit.

[Nathans_Dad]

Originally Posted by speeder

How on earth do you justify corporate welfare in the form of tax breaks for Exxon-Mobil when they are shattering profit records every quarter?? I could see if they needed the help to operate since they sell a staple commodity of the U.S. economy, but why should American tax-payers subsidize their un-*******-believable bottom line?

You ditto-heads are really radical extremists, you know that?

Speeder, what is the #1 issue of this election? It's the economy and, most visibly, gas prices. The Dems seem to be hell bent on "punishing" the evil oil companies. I guess I can understand that, they are making money while the rest of us are paying through the nose for gas.

Again, I ask you, what do you think will happen to gas prices if the government raises taxes on oil companies? Assuming you agree that gas prices will rise to cover that increased cost to the producer, how exactly does that help ANYONE??

[nostatic]

I guess it depends on the "tax breaks" that are in question. I don't think there is any good reason to instill "punitive" penalties, but why should they get tax breaks that other businesses don't?

If we are subsidizing their business, then gas prices should go up to accurately reflect the true price of doing business. The money comes out of your pocket one way or the other...

Here's my plan:

eliminate business subsidies (farm too)
tax the churches

[legion]

Originally Posted by speeder

How on earth do you justify corporate welfare in the form of tax breaks for Exxon-Mobil when they are shattering profit records every quarter?? I could see if they needed the help to operate since they sell a staple commodity of the U.S. economy, but why should American tax-payers subsidize their un-*******-believable bottom line?

You ditto-heads are really radical extremists, you know that?

Actually, it's my belief that corporations should not be taxed at all, only people. Taxing corporations, then taxing payroll doesn't make any sense. (And then taxing any money the people invest back into the company again... )

[legion]

Originally Posted by nostatic

Here's my plan:

eliminate business subsidies (farm too)
tax the churches

How about taxing the unions too? And how about restricting their political activity?

[Nathans_Dad]

Let's be clear. I'm not saying that oil companies don't get tax breaks. They do. I'm sure some of those aren't "fair" (whatever that means in business).

However, do the Dems REALLY think that this is the perfect time to raise taxes on oil companies? I thought they were the party of the middle class and poor? How does raises gas prices even further help those people?

[lendaddy]

I believe that the tax breaks get are primarily for research in/and domestic production. In other words a carrot to keep business here. I'm not a fan anyway, but these "breaks" are not what people think they are IIRC.

[artplumber]

Rick,
You know the deal. This bill was brought to the floor solely to be an issue in November. Anyone in their right mind(s) knows it can't pass, and if it does, it would probably be reversed in some court, and at its basis it is a ludicrous notion. Why not tax software makers more - they're making huge profits too?

This is simply a "hey remember we dems really are for the average (little) guy because we voted to make those big bad oil companies give you (really us) some of their money, and those evil repubs voted against it."

[berettafan]

God help me i agree with the lefties on this one

I'm not interested in subsidizing people who have near absolute control over a necessity.

But i think this posturing is all about scoring votes and has zero to do with solving problems. At 35 i am becoming one jaded, cranky ol' mf'er when it comes to politicians. i guess that means i'll be moving to the upper left coast soon.....

[nostatic]

Originally Posted by legion

How about taxing the unions too? And how about restricting their political activity?

Tax them? Sure. Restrict their political activity? That doesn't seem very democratic...what do you mean?

[nostatic]

Originally Posted by Nathans_Dad

Let's be clear. I'm not saying that oil companies don't get tax breaks. They do. I'm sure some of those aren't "fair" (whatever that means in business).

However, do the Dems REALLY think that this is the perfect time to raise taxes on oil companies? I thought they were the party of the middle class and poor? How does raises gas prices even further help those people?

You and I both know it is grandstanding. But when is a good time to actually start paying the "true" cost of something? Answer - when the other guy is in power

At some point the check has to come for the free lunches...

[legion]

Originally Posted by nostatic

Tax them? Sure. Restrict their political activity? That doesn't seem very democratic...what do you mean?

Churches are forbidden from being involved in politics. How is that democratic?

[nostatic]

Originally Posted by legion

Churches are forbidden from being involved in politics. How is that democratic?

All of the church members can vote, and political topics often come from the pulpit. Isn't that involvement?

[Rick Lee]

Originally Posted by legion

Churches are forbidden from being involved in politics. How is that democratic?

No they're not. They just risk losing their tax exempt status for engaging in politics, a law which is woefully unenforced.

FWIW, I kind of wish the GOP would let a windfall profts tax pass. We should pay more for gas. A windfall profits tax would raise prices immediately while not cutting an iota out of oil companies' profit margins. If you really want to punish the oil companies, encourage folks to consume less by raising the price of gas. I don't know what the difference is between giving tax breaks to oil companies and letting homeowners deduct their mortgage interest. Renters subsidize homeowners in this case. In the case of oil companies, the gubmint subsidizes the price we pay at the pump. Take away the tax breaks and we all pay equally. Isn't that fair?