[QUOTE=Raughammer1;976165]“The ‘windfall profits’ tax is back, with Barack Obama stumping again to apply it to a handful of big oil companies. Which raises a few questions: What is a ‘windfall’ profit anyway? How does it differ from your everyday, run of the mill profit? Is it some absolute number, a matter of return on equity or sales—or does it merely depend on who earns it? Enquiring entrepreneurs want to know. Unfortunately, Mr. Obama’s ‘emergency’ plan, announced on Friday, doesn’t offer any clarity. To pay for ‘stimulus’ checks of $1,000 for families and $500 for individuals, the Senator says government would take ‘a reasonable share’ of oil company profits. Mr. Obama didn’t bother to define ‘reasonable’... This extraordinary redefinition of free-market success could use some parsing. Take Exxon Mobil, which on Thursday reported the highest quarterly profit ever and is the main target of any ‘windfall’ tax surcharge. Yet if its profits are at record highs, its tax bills are already at record highs too. Between 2003 and 2007, Exxon paid $64.7 billion in U.S. taxes, exceeding its after-tax U.S. earnings by more than $19 billion. That sounds like a government windfall to us, but perhaps we’re missing some... business subtlety.
Great post!!! Obama is a socialist through and through. Socialism is the one type of government that has proven time and again to fail. Wealth redistribution ala USSR, historic Germany, on and on and on. In most cases I don't care for government hand outs. There are some cases where people, through no fault of their own, have fallen on hard times and need a little help to bounce back. That's fine with me. Use the system's help once to get back on your feet, but not again.
Does anybody remember both Hillary and Obama saying "I'm going to get Big Oil's money"??? Keep your friggin' hands out of there!!! We're already taxing the crap out of Big Oil and we wonder why gas is so high?! In Missouri I think total taxes on a gallon of gas is approx. $.45-.50/gallon. Seriously?! Does the government need THAT much $$$ off of oil? Big government should absolutely LOVE Big Oil!!! Instead the libs want to take more from Big Oil, yeah that'll lower price at the pump.
Great post!!! Obama is a socialist through and through. Socialism is the one type of government that has proven time and again to fail. Wealth redistribution ala USSR, historic Germany, on and on and on. In most cases I don't care for government hand outs. There are some cases where people, through no fault of their own, have fallen on hard times and need a little help to bounce back. That's fine with me. Use the system's help once to get back on your feet, but not again.
Does anybody remember both Hillary and Obama saying "I'm going to get Big Oil's money"??? Keep your friggin' hands out of there!!! We're already taxing the crap out of Big Oil and we wonder why gas is so high?! In Missouri I think total taxes on a gallon of gas is approx. $.45-.50/gallon. Seriously?! Does the government need THAT much $$$ off of oil? Big government should absolutely LOVE Big Oil!!! Instead the libs want to take more from Big Oil, yeah that'll lower price at the pump.
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