Is it time for a windfall loss tax credit??

Nathans_Dad · Nathans_Dad's Garage

With all the libs talking about a windfall tax on oil companies since they made so much money, is it time for a windfall tax credit for automakers?

GM posted a $15 billion loss in the second quarter alone.

So, let's talk wealth redistribution, shall we?

Hugh R · 08-01-2008, 12:34 PM

Seems fair to me. You make money, you give some to the gubmit, you loose money, they give you some. Oh, for companies, I thought you meant individuals. Never mind.

Jim Richards · 08-01-2008, 12:54 PM

I want my free money!

Racerbvd · Racerbvd's Garage

What about all those actors who are paid millions for a movie, what about the fact that Batman raked in 158.4 million dollars on opening weekend??? What about the $20 million Green Bay is offering Brett Farve to retire??? Look how much money movie studios bring in

Frankly I'm more worried about how a guy who has only worked for non-profit organizations & the government can afford a close to $2 million dollar home

David · David's Garage

I believe both parties pander too much to the general public when it comes to taxes. As many of you Republicans will agree, it's companies that create jobs, increase GDP, etc. So what do Republicans and Democrats do? They increase taxes on corporations and lower them for the average Joe. Just the opposite of what ALL other industrialized countries do.

Nathans_Dad · Nathans_Dad's Garage

Of course any windfall tax credit to offset big losses at GM would set the libs off on a huge rant. It would be another bailout of a corporation beholden to BIG OIL.

Funny though, they champion subsidizing all sorts of businesses, as long as they aligned with the "Green" philosophy.

Here's my thought, how bout we don't bail out GM and we don't tax oil companies because they happen to have made a whopping 9% profit this year.

Jim Richards · 08-01-2008, 06:01 PM

I want my free money!

Hugh R · 08-01-2008, 08:32 PM

I'm going down to the ATM to buy some money. I'll be using my Visa card.

dd74 · 08-01-2008, 08:59 PM

Is it truly the oil company's fault they made such a huge profit, or the consumer's fault? The oil company offers a service, just like the cleaning lady, the butcher and the hooker. The consumer can either choose to get hooked or not.

As far as windfall credits for GM - forget it. Why reward their failure?

Nathans_Dad · Nathans_Dad's Garage

It's only logical.

We punish success, thus we must reward failure. Besides, GM hasn't failed, they are VICTIMS of the current economy. It isn't their fault, the system is set up against them. All this greenie mania has produced a very hostile and unfriendly environment for GM. If we just help them out a little, they might succeed. Put em on welfare I say!

See, now I'm thinking like a liberal!

dd74 · 08-01-2008, 09:57 PM

Quote:

Originally Posted by Nathans_Dad

It's only logical.

We punish success, thus we must reward failure. Besides, GM hasn't failed, they are VICTIMS of the current economy. It isn't their fault, the system is set up against them. All this greenie mania has produced a very hostile and unfriendly environment for GM. If we just help them out a little, they might succeed. Put em on welfare I say!

See, now I'm thinking like a liberal!

So, in a sense, you think "Greenies" dislike American car manufacturers. I don't know. They seem to be enthralled with the Ford Motor Company.
http://www.treehugger.com/files/2008/07/ford-econetic-fiesta-diesel-63mpg.php

Rick Lee · Rick Lee's Garage

The readers' comments in this one are great.

http://www.politico.com/news/stories/0808/12237.html

lendaddy · 08-02-2008, 06:27 AM

No no no no, you guys have it all wrong. The corporations MUST be taxed regardless of profitability. It's a sliding scale up from zero. Companies are to be punished.

For instance, here in Michigan very few companies are making any money. Our idiot Governor and Legislature saw this as a big problem. Not because it hurt the state in regards to employment or growth, no no no...it was a problem as tax revenue dropped.

But fear not! They gave us a solution, now we'll tax companies on their gross revenue instead! Brilliant!!! So you can have a colossal "windfall loss" here and Jenny is still gonna get her scratch from you. Not only is this the foot on the throat our struggling companies need right now, but it's a beacon to all potential new interests in our state as to just how smart it would be for them to locate here.

Brilliant!!!!!!!!!!!!!!!

Jim Richards · 08-02-2008, 06:38 AM

I want my free money!

Mule · 08-02-2008, 07:04 AM

Quote:

Originally Posted by Racerbvd

What about all those actors who are paid millions for a movie, what about the fact that Batman raked in 158.4 million dollars on opening weekend??? What about the $20 million Green Bay is offering Brett Farve to retire??? Look how much money movie studios bring in

Frankly I'm more worried about how a guy who has only worked for non-profit organizations & the government can afford a close to $2 million dollar home

Careful, you'll be accused of racism or called "the new Mule."

Mule · 08-02-2008, 07:06 AM

Quote:

Originally Posted by Nathans_Dad

It's only logical.

We punish success, thus we must reward failure. Besides, GM hasn't failed, they are VICTIMS of the current economy. It isn't their fault, the system is set up against them. All this greenie mania has produced a very hostile and unfriendly environment for GM. If we just help them out a little, they might succeed. Put em on welfare I say!

See, now I'm thinking like a liberal!

I bet you feel better too!

David · David's Garage

Quote:

Originally Posted by lendaddy

No no no no, you guys have it all wrong. The corporations MUST be taxed regardless of profitability. It's a sliding scale up from zero. Companies are to be punished.

For instance, here in Michigan very few companies are making any money. Our idiot Governor and Legislature saw this as a big problem. Not because it hurt the state in regards to employment or growth, no no no...it was a problem as tax revenue dropped.

But fear not! They gave us a solution, now we'll tax companies on their gross revenue instead! Brilliant!!! So you can have a colossal "windfall loss" here and Jenny is still gonna get her scratch from you. Not only is this the foot on the throat our struggling companies need right now, but it's a beacon to all potential new interests in our state as to just how smart it would be for them to locate here.

Brilliant!!!!!!!!!!!!!!!

I hope this is a joke, but unfortunately I imagine it's not.

lendaddy · 08-02-2008, 09:13 AM

Quote:

Originally Posted by 125shifter

I hope this is a joke, but unfortunately I imagine it's not.

Nope, no joke at all. My buddy's company lost $350,000 this year and his gross revenue tax bill was $25,000.

I get mine next week

It's like candid effin camera here, I swear I keep expecting someone to jump out and yell "just kidding!".

Hugh R · 08-02-2008, 09:17 AM

Quote:

Originally Posted by Racerbvd

what about the fact that Batman raked in 158.4 million dollars on opening weekend???

We at Disney "think" the new Batman cost Warner Bros north of $350 million to make.

There are a lot of $100+ million movies that never break even by the way.

Rick Lee · Rick Lee's Garage

Quote:

Originally Posted by Hugh R

We at Disney "think" the new Batman cost Warner Bros north of $350 million to make.

There are a lot of $100+ million movies that never break even by the way.

Good thing those studios aren't incorporated in Michigan.