Senate Democrats Want The Government To Determine How Much Profit Is Too Much For The Oil Companies, And?

Question

Take The "Extra" Through A Wind Fall Profits Tax. Why Stop There? Why Not Set Profit Amounts For Every Industry, and Business?

Answer 1

It is total lunacy.  Been there done that under Carter.  Why would we want to make the same mistake twice.

We need to drill NOW!!!

Yea, they can stop the corn subsidies now, they are making windfall profits while people around the world starve.  Great decision Democrat congress!

Answer 2

Senate Democrats` need to remember , they are the worlds` worst wasteful spenders` with other peoples` TAX money ! Congress can`t even balance their own budget , and they don`t invest any money of their own , it` all our`s ; the taxpayers , but they want to tell a successful company how to balance theirs` ? The USA needs to be reminded that Congress is like a jealous child , they have tried to run this country like their personal Mom & Pop store that gives` stuff away and  that has never made a profit of any amount ! Now Congress wants to punish people who do know how to run a business, and their ability of being able to make profits off of their investments` ! Now Congress in all their liberal see all , know all elitism is going to tell a profitable free enterprise company that they are making too much money ! The arrogance and hypocrasy of this Liberal Congress is out in the open for all to witness !! Congress , " Practice what you Preach " !  " Do it , and then Talk about it " you hypocritical pieces of camel dung ....

Answer 3

Boo to the first answer! As if the government over stepping their powers in one area validates them doing it in more areas. I don't know where he lives, but I only have one option for electricity....and last I checked, monopolies are illegal. So it only makes sense for the government to regulate an industry that would otherwise be able to unethically jack the price.

Anyways...sorry for the rant. But we tried a "windfall profit tax" on the oil industry in 1980. It had only NEGATIVE effects, and caused us to be more dependent on foreign oil. Why retry something that has already not worked....

Answer 4

That kind of thinking is coming from a Democratic led congress who are socialist at heart and know nothing about free enterprise. That kind of c**p will just drive up prices more and offer less incentives to the oil companies to do more drilling and refining. The consumer will be their victim again.

Answer 5

Lets tax congress for their windfall profits!  They're doing nothing and still getting paid!!!  Have you noticed all of their ideas they have has nothing to do with increasing supply, I wonder how much oil stocks the Democrats in congress own...

Answer 6

lets see oil companies 8.3 % profit government 18.3% on gas and 24.8% on diesel you tell who is making a windfall profit on the backs of the american citizen. and don't forget out of the 8.3% they have to pay their stockholders also they did the work for their 8.3% while the government sat on their keisters in D.C  holding out their hands for their 18.3% and 24.8% respectively lets call a snowjob a snowjob and that's exactly what the government is trying to give us with this tax

Answer 7

Your are right!  I pay too dayum much for my beans N franks at the grocery!  They should be held to no profit.  I deserve my food!  Also, I pay too much for my Big Gulp at the 7/11.  There ought to be a law!

Answer 8

You act like this is news to you...

Every state has an agency that determines the price that power companies can charge for electricity, natural gas, fuel oil...etc

Those companies make huge profits and run just fine, why do oil companies get a pass?

Answer 9

I live in SW Florida, and I'll tell you the answer is to fight this, but give the Oil Companies the ability to invest in drilling and refining off the shores of the Gulf. China has a angle drilling platform off the southern coast of Florida, (45 miles in international waters,) taking AMERICAN OIL!!!

If we do not drill, they will. Hannity has a form letter that you can print and get signatures to submit for drilling. The Oil Rigs are also 'Eco-Friendly', especially for the fishing industry because they increase the surface space, thus increasing plant and fish life.

We will see a gallon of gas drop to $1.00 a gallon again! Forget the democrats here, and push the government as a whole to become energy independant before the rest of the world drains our own supplies.

As a note, we also need a Submarine to 'cut' the diagonal drill rig from China...

As for Oil profits, the oil companies MUST make enough profit to continue private investment... Take that away, and we will see oil companies falter, and prices soar. These are the kind of things that can devalue the dollar into runaway inflation!!!