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Senate GOP blocks windfall taxes on Big Oil


cavanami

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...and take away billions of dollars in tax breaks ...

 

Retroactive tax/windfall profits tax is a no go. But why are we missing this second item?

 

Poor, poor oil companies. Threatening to take away all those billions that they are investing in alternative energy research.

 

... Checking Wiki on alternative energy research ..

 

Oh wait. Never mind.

 

 

 

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Actually, the GOP senators saved our asses from paying more taxes on gas than we already do. The oil companies would just tack on the money they pay as "windfall taxes" at the gas pump. Of course, the Demoncrats never saw a tax they could not support. :smirk: It would be just another tax on those that have no other way to commute to work so they could pay taxes; another way to drive up the price of consumer goods (transportation providers would just tack on fuel price increases). Dumb-ass idea put on the table and thankfully it was blocked.

 

HH

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I just want everyone to pay 10% on what they make in income/profit. Everyone. No deals. No loopholes. No advantages. Fuck the oil companies. If they think alternate energy sources would be profitable to them they WILL invest their own money on this. They don't need handouts from the taxpayers. Tax them all, even Steven, fair is fair. Make it simple. 10 cents on every dollar you make and every dollar GM and Exxon and Microsoft, etc. make. How fucking hard is this to do to have a fair and equitable tax system FOR ALL? You get everyone and every company to pay 10% tax and the country will have plenty of money.

 

Anything else is a scam to get away with paying the tax. KISS (Keep It Simple Stupid). The problem is all these politicians are beholden to the rich and the fat cat companies.

 

No deductions for anything. You want ten kids, well fucking pay for them from your 90% income left. You want to buy a house. Pay for it yourself and get the best deal you can and buy something within your means for god's sake. And balance the damned budget for local, state and federal governments. And no frigging 'bailouts' for any company. Can't run it in the red, tough shit... go under, cut back, consolidate, sell, merge, whatever. Obviously it is your problem, not the damned taxpayers' problem. Catch them cheating and they pay double what they didn't pay. 10% for me in tax, for Bill Gates 10% in tax, for the guy who makes 10 bucks a week 10% in tax. We all pay the same percentage and share the same burden in taxes.

 

What could be fairer?

 

Cent

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What you say makes logical sense...but I don't think it would work.

 

First of all, what happens to all of those people who already have had more kids than they can pay for? Pretty soon you're living in a country with millions more homeless and crime rates skyrocketing. This in turn overcrowds our jails and overwhelms any health care system.

 

Then, there are all the people who haven't had the benefits of a good education or good enough upbringing to know how to care for themselves with no safety nets. Easy to say they should go fuck themselves, but in the end we would all wind up paying for it as it would become impossible to leave your home without being mobbed by dirty kids wanting you to buy chickletts.

 

As for the oil comanies though, yes I do say fuck em. I don't necessarily approve of extra taxes for them only, but the idea that taxing them would erase the good will they show us now in keeping prices low is somewhat pathetic and laughable.

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I agree Cent. 10%...flat rate on gross income. No deductions for anything. And if you speculate in the housing market and it goes to shit, don't look for Uncle Sam to bail you out.

 

Dave...it's taken a couple of generations to get us to social aspects created by a socialist approach to certain issues; it would take a couple of generations to "re-educate" the populations of new facts of life; ie, 2nd kid in a county (free hospital) results in your "tubes" being cut out. No more kids. Simple. No food stamps/cards for grocery stores. A card for a gov't store where only generic supplies are found. And they won't have Haagen Daz ice cream or Tic Tac on the shelves that can be bought with taxpayer money.

 

HH

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How about schizophrenics and other severely disabled? War wounded? Orphans?

 

What's the current right wingo on them?

 

Also, any flat tax needs to be based on income above a certain living wage. 10% of $1,000,000 may be a heap of money, but it's nothing compared to 10% of $15,000.

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The folks you mention should be provided for...that is, those who through no fault of their own find themselves in special circumstances such as you note.

 

I don't see any problem with a flat tax on people and corporations. If people don't make enough to live at a standard they would like, work harder or smarter. Much simpler than working with and around the tax code as it is now. As it is now, almost every monetary decision we make must be taken with some degree of recognizing tax consequences. That's nonsense. A guy makes a mil a year...simple: 100,000 tax liability. If he makes 10,000 a year...he owes 1,000. Would work well IMO.

 

HH

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Maybe better would be a flat, but graduated tax rate.

I am thinking the people making $10K per year, a 10% tax could hurt them.

Make it like: $1 to $10K, 3%

$10.001K to 20K, 5%

$20.001K to 40K, 7%

$40.001K to 100K, 8%...etc...

 

Just an idea... :dunno:

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