Also will he explain why it didn’t work for Carter but will work now?
fdm215- Newsflash!! It’s his stupid recycled Carter-esque idea, the ball is in his court. Put down the kool-aid.
Puller58- I want to know how he PROPOSES to define it, PROPOSE how much it will be, and if he PROPOSES any other targets. Better?
Now that you mention it, I’ve never heard any politician define it, though many make reference to it…on both sides of the aisle.
No…..why limit the possibilities? They already have libs thinking tax increases are a good thing, who knows what they can accomplish with this group.
Obama, if president, will turn the tax code over to the chairman of the house ways and means committee, Charlie Rangle. He says he will tax the ‘rich’. Problem is, he thinks anyone who is not on public assistance and owns as much as a clock radio, is ‘rich’.
If it were me, I would see how much of it that the executives would be taking as bonuses, and take that. Then would issue an executive order making it a crime to dip into development funds to buy a new Gulfstream
Obama, like the good Republicrat he is, will let them do pretty much what they want.
What makes you think this is Obama’s legislation?
(Sigh) The President proposes and the Congress disposes. I wish people would brush up on how government works.
A windfall is any profit that you received but had nothing to do with creating. Very much like a gas tax… if you receive profit from somthing you do not own nor help create it is a windfall. As far as taxing “Big Oil” for their “windfall” Please note that tax will be passed onto the consumer… therefore you/we will pay more per gallon…not less. When a companies cost of doing business goes up, that is passed onto the consumer. So raise taxes on any type of company and what ever it is the increase in cost will be pased onto the consumers of that product. Works for big oil and for sneekers and for dog food…any product you can name.
No Obama will not define that. Just like Obama will not define “rich” when says the “rich” don’t pay their fair share of taxes. The democrats will never give you details and our media will never demand the details.
Raise taxes on “big bad oil” and they will raise prices accordingly to pay for them.
If Obama becomes president, he will go foward with the S-Chip program. He already said he would. Time to find a good place for that tracking chip under your skin. Obama=no Constitution.
Politicians do not make definitions. Professors of economics make those definitions. You know those that cannot succeed in the real world and go to the university for success. They define it basically as an increased tax on a company, organization or individual who is successful enough to make larger than normal profits over a period of time.
And did he say anything about “big oil”, yes he would implement a windfall profit tax on them. But he did not limit his taxes to just “big oil”. What would happen with say Wal-Mart, McDonald’s, Oprah, Microsoft, or HP? Aren’t they making a killing right now too?
And it didn’t work for Carter because he was not a black man down with the struggle, or he was not the real messiah, or that he was from the South or that he wasn’t Harvard educated or …..
You get my drift.
It didn’t work with Carter because it was bad policy. It will not work today. If you tell me that you are going to tax me more than anyone else, I will simply stop production or move my operations so you cannot tax me anymore. I believe that is almost exactly what happened when Carter implemented his tax.
No, it will be a wide open, tax the bejesus out of big business till they bleed, tax.
As the Democrats need more money to fund their “worker’s Paradise” you will see more companies targeted for a “windfall profits’”tax. And as it happens more companies will move out of the Country taking the jobs they provided Americans with them.