Taxing Big Oil

ElfDude · Post by **ElfDude** » Wed May 14, 2008 9:19 am

What will be accomplished by new punitive taxes levied on oil companies? Quick poll question.

CygnusX1 · Post by **CygnusX1** » Wed May 14, 2008 10:47 am

Since SPECULATORS set the price of oil (that's right - legalized price-fixing),
big oil's not gonna take that hit.

Consumers LOSE - Game over.

Kares4Rush · Post by **Kares4Rush** » Wed May 14, 2008 11:03 am

I'm confused.

ElfDude · Post by **ElfDude** » Wed May 14, 2008 11:11 am

Kares4Rush wrote:I'm confused.

Really?

CygnusX1 · Post by **CygnusX1** » Wed May 14, 2008 11:19 am

Kares4Rush wrote:I'm confused.

I was too, until The O'Reilly Factor exposed - I mean - EXPLAINED it.

Say what you will about O'Reilly, but he's the only one who blasted this duck outta the pond.

awip2062 · Post by **awip2062** » Wed May 14, 2008 11:20 am

Is it not obvious that if the government is going to be taking more taxes, the prices will go up? It's not like the oil companies are going to say, "That's okay. We'll let you have more of our share."

ElfDude · Post by **ElfDude** » Wed May 14, 2008 11:26 am

We had a headline the other day about... it was either Exxon or Chevron... Exxon I think, having record profits for the quarter. The news story didn't mention that they had just paid a record tax amount that quarter as well... something like $35 billion.

CygnusX1 · Post by **CygnusX1** » Wed May 14, 2008 11:28 am

awip2062 wrote:Is it not obvious that if the government is going to be taking more taxes, the prices will go up? It's not like the oil companies are going to say, "That's okay. We'll let you have more of our share."

exactly.

Just as a CAR DEALER IS NEVER GOING TO LOSE MONEY on a sale,
(no matter HOW MUCH of a "deal" you [THINK YOU] got), so are the
oil companies as nearly relentless - in their mission to make as much money
as possible before the cash cow runs out of "milk."

Soup4Rush · Post by **Soup4Rush** » Wed May 14, 2008 12:18 pm

big corporations always pass their losses off to the consumer. nothing new there.

CygnusX1 · Post by **CygnusX1** » Wed May 14, 2008 12:23 pm

Soup4Rush wrote:big corporations always pass their losses off to the consumer. nothing new there.

along those lines, I saw in a report that if WalMart ever went bankrupt, our economy would CRASH.

Does anybody (besides me) see something just a little UN-SMART about
that proposition?

awip2062 · Post by **awip2062** » Wed May 14, 2008 12:35 pm

Hey, if Wal-Mart went bankrupt, I'd have to find another place to get many of my necessities. They do much to help me keep my grocery bills manageable.

ElfDude · Post by **ElfDude** » Wed May 14, 2008 12:51 pm

Wal-Mart is a great American success story. And thanks to them, the wage-earner has a dollar that buys him more than it otherwise could. I just can't get why they are so constantly villified on NPR and CNN.

CygnusX1 · Post by **CygnusX1** » Wed May 14, 2008 1:12 pm

ElfDude wrote:Wal-Mart is a great American success story. And thanks to them, the wage-earner has a dollar that buys him more than it otherwise could. I just can't get why they are so constantly villified on NPR and CNN.

I understand and agree totally.

I ALSO understand that bankruptcy is not an option with them.

You can bet your house that the Fed would bail them out if needed.

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Taxing Big Oil

If we tax big oil will...

Taxing Big Oil