Make big profit

18 Responses to “Will Obama’s “windfall profit tax” on big oil work as well as Jimmy Carter’s did?”

1. Morbius, on April 17th, 2009 at 1:54 am Said:

   Apparently you know nothing about either proposal.

2. jiminjersey, on April 17th, 2009 at 9:03 am Said:

   Probably. I really can’t believe his minions eat the crap up.

   Honestly. This is one of the worst ideas ever. On top of that it also has proven to fail in the past and for some reason they still think it is a good idea. Probably because they have painted the “oil” companies as the evil empire even though their profit margins are in the 8-9% range.

3. daddio, on April 18th, 2009 at 7:38 am Said:

   Ms. Pelosi just proposed a windfall profit tax on RETIREMENT accounts. INSANITY!!!! sorry i don’t have a link for it, but i’m sure it’ll be easy to find on the web.

4. racefish68122, on April 20th, 2009 at 2:06 am Said:

   If you want the economy ruined, of course.

5. Blue T, on April 23rd, 2009 at 6:34 am Said:

   I will begin to believe in it, if it first targets Sen. Kennedy’s oil interests, that have traditionally been exempted.

6. iviolated, on April 24th, 2009 at 8:34 pm Said:

   yeah.

   We’ll have a tax increase passed on to us.

   Thanks Obama you’re a scumball

7. alex c, on April 25th, 2009 at 9:49 pm Said:

   It seem the more we raise taxes on the oil company the more the price goes up.

8. rob_n_tx2, on April 29th, 2009 at 2:22 am Said:

   If he wants drilling and exploration to decrease and then increase oil prices more…. it will work really good.!!!!!

9. Anthony, on April 30th, 2009 at 5:40 pm Said:

   Obama is not Carter and Carter is not Obama. Please let people be who they are and don’t tie them since it only blurs the picture

10. Mark C, on May 3rd, 2009 at 9:37 am Said:

    BY GOLLY! What business does American industry have earning a profit!!!??? Everything should be confiscated and people should live in cardboard shacks. That’ll teach those oil companies!

11. Flip-ANT, on May 3rd, 2009 at 4:05 pm Said:

    Taxing a “profit” is confiscatory and a “socialist” mantra taken from the pages of the “Communist Manifesto”. Its punishing the success of capitalism and is attempt to bring everyone one down to the same level of mediocrity.

12. Jean G, on May 4th, 2009 at 6:39 am Said:

    Educate yourself before you ask.

13. MRF, on May 4th, 2009 at 10:37 pm Said:

    I don’t know.

    We’ve tried LOWERING taxes on the oil companies for the past 7 years and look where’s it gotten us.

14. rotorhead, on May 6th, 2009 at 12:39 am Said:

    Probably better. We will only be allowed to buy gas every third day.

15. buzz, on May 6th, 2009 at 4:32 am Said:

    This is a Clinton proposal.

16. Kilroy50, on May 8th, 2009 at 6:50 am Said:

    Is that a way to get more ethanol produced from corn? Have you noticed prices of all grain products are getting higher? Flour, cereal, livestock feed, soy, peanuts, etc. Good ole Demon cratts, they want to tax everyones money but their own.

17. Mr Krinkle, on May 10th, 2009 at 1:02 pm Said:

    Yes it will, the result of Carter’s attack on the oil companies helped to produce the reccession of the 80’s. Your comparison to Carter is very interesting because Obama’s foreign policy is also very similar to Carter’s. He would give terrorist regimes credibility by negotiating with them.

18. SCOTT M, on May 12th, 2009 at 6:42 am Said:

    What “windfall” profits is Senator Obama planning to tax? Did one or more of our Big Oil companies win a Power Ball Sweepstakes?

    Last year (2007) Exxon Mobil, the world’s largest publicly traded company, had worldwide revenues of $404 billion and had a net profit of $40 billion. Exxon may be a U.S. company (for the time being at least), but it operates in the international marketplace. Its U.S. revenues in 2007 were $121 billion, or 30% of its worldwide revenues. Its pre-tax profit from U.S. operations was $13 billion, or 19% of its total pre-tax profit. The company paid $5 billion in U.S. income taxes. It also paid over $7 billion in U.S. sales taxes and another $2 billion in other U.S. taxes, duties and fees.

    The bottom line is that Exxon’s 2007 U.S. revenue totaled $121 billion, of which federal and state governments got $14 billion and the shareholders got $5 billion. In other words, our federal and state governments got 12% of Exxon’s total U.S. revenues and its shareholders got 4%. And the government entities got their “money” in cash; the shareholders only got a small part of their “money” in cash from dividends. The company had to earn its “share” of the bounty; the governments just had to sit back and collect theirs.

    Let’s not forget that Exxon pays its U.S. employees billions of dollars each year in salaries and wages, and those employees pay income and other taxes to the government entities that impose them. And let’s be sure we don’t forget that Senator Obama, our economic guru extraordinaire, is not just talking about a “windfall” profits tax on the oil companies, but an increase in taxes on dividends.

    The windfall profits tax on oil companies is a cynical ploy to induce voters to believe that Senator Obama is going to make our tax system “more fair.” That’s all it is.

    BTW, the House of Representatives voted yesterday to authorize a lawsuit again the OPEC cartel for its monopolistic pricing practices and a legislator is calling for tighter regulation of commodity traders. Meanwhile, “the government” that is supposed to “provide” for us continues to ban drilling for oil in ANWR and in offshore oil fields in the Gulf of Mexico; it continues to ban the production of oil from shale deposits in our western states; and it continues to effectively prohibit the import of Brazilian ethanol distilled from sugar cane.

    Keep watching, folks. We’re moving at warp speed towards Energy Independence!

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