Why does Congress want to tax us more?

Question

Congress wanted to tax "excess profits" from the oil companies, knowing full well that the oil companies are never going to pay that tax and will just pass the cost on to us, the consumer.

Are they that stupid that they don't realize it? Or are they just trying to back-door another tax on us? Or is it political, so that the democrats can say that the republicans won't go after the "evil" oil companies?

Answer 1

Because we owe China and other countries billions of dollars - which we borrowed to finance the war in Iraq.

(One reason among many.)

Answer 2

I've been thinking of this all day since they tried to pass that bill. And I believe you answered it yourself.  I truly believe that they know the bill will not ever pass. They know that it would be a disaster to this economy. Remember Carter?

So..why?

Politics. One party, more than the other, will say what the believe the voters want to hear (explains all the polls out there). Not what they believe is the best for the country.

FACT: The policies the democrats have pushed through have caused us to get more and more oil from unstable countries that really don't care for us while ours sits untouched.

Sadly though, it seems that most of the country believes that "big oil" is to blame.

"big oil" profit margin  4%

Gov. Taxes on Gas 15% (and they don't do a d**n thing to get it out of the ground and to the market)

Most of the electorate in this country is sadly ignorant of the truth.

So, they come out and try to tax them to death because people think the problem is big oil. The republicans, knowing this is awful policy block it.

Now, the democrats can come out and tell the country that the republicans are protecting big oil!! It's purely politics.

The people in this country are very ignorant on economics.  They know that and so, they can get away with this theater.

The democratic party's very survival depends on people "believing" that they are dependent on government.

If a politician opens his mouth, he is telling you what he wants you to believe, not the truth.

Anything a political group does, we need to ask ourselves why. Then follow the path, it leads to the truth. A scary truth.

One final fact:

700 Billion a year to Saudi Arabia. more than 5 times the amount of the Iraq war.

Answer 3

The Democrat controlled congress wants to increase taxes on the rich only. It will not effect the middle class.

(and if you believe that I have some carbon offset credits to sell you.)

Answer 4

purely political it is a feel good solution..

the dems can say we did this we went after the nasty oil companies..  they had ntohing to lose..

if the pubs cancel the bill the republicans are defending big oil

if the pubs pass the bill gas goes up and those nasty oil companies of the republicans are raising our fuel costs even though they made record profits...

where is the downside for the dems?