What percentage profit margin does Obama consider a "windfall" profit?

Question

My understanding is that he is considering a "windfall profits" tax on oil companies. Has he defined what would constitute such a profit? Thanks.

Answer 1

I don't think I've ever heard him give specifics,on anything except maybe o tax hikes.

Answer 2

No.  In his mind, any profit should be considered a windfall...for tax purposes.

Answer 3

Surely you jest this dude never speaks in specifics just generalities.If it sounds good then say it and do not worry about  the how.

Answer 4

More proof of Obama the Socialist showing he has no clue of what is going on. Raise taxes and ask questions later he will.

Answer 5

This is really rather a lot like a waiter at a restaurant that has a gratuity policy. For large tables the waiter is going to get 18% of the check as a gratuity. Without changing his percentage, however, he can get a larger tip if he manages to inflate the cost of the meal.

Obviously the cost of our meal has gone up.

Oil companies make huge profits because they deal in large amounts of currency. But their profit margins are rather modest. Exxon, for example, pulls in about a 10-11% profit margin. Microsoft, on the other hand pulls in 28%, Apple takes in about 21%, Research in Motion (Blackberry) 30%, Coca-Cola almost 27%, Toyota 25%. Should we tax the h**l out of those profits? People are just angry about gas prices, and they see numbers like  $40 Billion in profits for Exxon (versus Apple's $1.6 billion) without taking into account how much money they deal in.  It sounds like an awful lot of money, but there's more to the story.  Whatever his definition is, it's wrong. Even the struggling Ford motor company can pull in 10% profit margins, but we don't talk about taxing their "windfall profits;" in fact, we talk about corporate welfare to save domestic automakers. You don't have to like oil companies, but nobody is telling the full story.

Answer 6

idk

Answer 7

Well lets see the 5 oils companies recorded 18 billion yes BILLION for the first 3 months of the year. I am pretty sure if they only got 9 billion in profit that would be enough but hey that is just my 2 cents.

Answer 8

.001 %

Answer 9

Anything they make over $80 a barrel.  

I watched the speech.  That is what he said.  A windfall profits tax on anything over $80 a barrel.  typical obamabots who don't even know what comes out of their own candidates mouth.

Answer 10

To ABM, any profit is too much and should be taxed heavily.