Does this make you made Republicans!?

Question

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/11/MNI6116RIU.DTL&type=printable

Senate Democrats pushed a vote Tuesday on a bill to impose a windfall profits tax of 25 percent on the major oil companies, the proceeds going to subsidize new renewable energy. The bill's sponsors said it is obscene that Exxon Mobil Corp. and other oil companies are making the largest profits in history while consumers are suffering.

But Republicans countered that imposing a punitive tax would only discourage oil companies from new oil exploration. The measure failed on a 51-43 vote, falling nine votes short of the 60 needed to break a potential filibuster.

Republicans also blocked debate on a measure to extend tax credits for wind, solar and other renewable energy sources. The bill failed on a 50-44 vote; GOP senators opposed the bill because it would have raised taxes on hedge-fund managers to pay for the tax credits.

Does this not just scream oil for the oil gods to you!!!

Answer 1

Meanwhile, while both sides are bickering in the comfort of the House.  I just paid $4.50 a gallon this morning.  I could care less about what side looks bad in this, all I care about is that this gets under control and prices fall back down quickly.

Answer 2

I might be wrong here. But any time a business is subject to higher tax, it doesn't hurt that business because they just pass the expenditure on to the public. I think the oil companies will do the same.

Answer 3

Republicans know that Democrats are just pandering for votes to say they are going after the windfall profits of a private company. If they do go through with it, the oil companies will move out of the U.S. and there will be $10+ a gallon gasoline if there is even any supply to buy. Why should they stay here to just be raped by the government?

Answer 4

Your question should be, "Does this make you mad, ANYONE who wants to make money in their lives?"

IF Congress can decide that they don't like how much money one business group is making and impose taxes on them to "punish" them, there's nothing to stop them from declaring that anyone who makes over $50,000 a year is "making too much."

This is the scenario behind the calls for "universal health care:"  to stop doctors from making any money.  (Of course, they don't do anything about lawyers, since 80% of Congressmen are attorneys.)

Answer 5

It makes me mad that they want to impose a new tax not that they want to spend money on renewable resources.  

Corporations don't pay taxes...We pay them.  The minute that bill goes into effect gas will go up 25%.   Maybe one day you will realize this and be made just like we are

Answer 6

1) Taxes on successful businesses are directly fighting the FREE MARKET and go against natural SUPPLY AND DEMAND.

2) The major oil companies power is protected by environmental laws (the democrats put in place), which makes them government protected monopolies. That means no new oil company can appear with cheaper product, to push out the old oil company who is charging too much. Both the democrat and neocons win in that way.

3) Tax credits for renewable energy is a great idea, and should be implemented.

What makes ME mad, is kids who think the democrats are different from the neocons.