I voted Democratic because I believe oil companies' profits of 4% on a gallon of gas are obscene but the government taxing the same gallon of gas at 15% isn't.
Keeps from raising income tax, creating the illusion we aren't being taxed more.
you voted Democrat? ewwww....
But seriously, if you want to solve the problems of the world, get rid of government. It's that simple.
And speaking about creating illusions about taxes: the federal reserve has more than tripled the money supply since 2000. It's gonna be a fun time had by all!
I believe the Republic of Somaia has virtually no functioning government and has had none for many years. It's not considered a place for tourists. They are not known for the strength of their economy unless you include the extortion from piracy.
Evan, Me a Democrat, not since Jimmy Carter.
Get rid of government and solve all our problems...best dang answer I ever heard of. If government officials would just be more in the business of managing with-what we got...instead of turning everything on its' _ss! But Alas...our officials around the World get grand delusions af grandeur and power and fame and wealth and getting their name in a history book and perhaps a statue or two of them looking out across the land that they helped save from peril...and they lose it!
"High gas prices may have cinched American consumers’ wallets in 2007, but they loaded the coffers of the big five oil companies: BP, Chevron, Conoco Phillips, ExxonMobil, and Shell. ExxonMobil, after record high profits in 2005 and 2006, smashed the record for highest profits ever made by a public U.S. company—previously held by Exxon—by posting a net profit of $40.6 billion in 2007.
To put these figures in perspective, Exxon’s $40.6 billion profit in 2007 is roughly equal to receiving “$30 for every person in China and $132 for every U.S. resident.” Another way of looking at it is that Exxon made $77,245 per minute in 2007—that’s more money generated per minute than 70 percent of Americans earned all year, according to the Census Bureau."
http://www.americanprogress.org/issues/ … h_oil.html
Doug, If we allowed more drilling price would go down. That would mean the percentage of profit will go down; will that make you feel better? My sources tell me BP is not to blame. The fault lyes with Transocean not doing their job properly as contractors dealing with the lines.
Don't say anything unless you know any oil execs. The figures you give means absolutely nothing if you talk oil rig fires.
Let me see if I have your position right.
1) The oil companies are not making enough money.
2) We need to allow more offshore drilling.
3) The oil spill is not significant because it's not the fault of BP who owned the lease. Liability was transferred to the little company who will not have the resources to pay for the cleanup. (Smart BP lawyers)
4) I need to hang out with more oil compay execs. (I will pass on that - I have to draw the line somewhere or my reputation would be ruined.)
"High gas prices may have cinched American consumers’ wallets in 2007, but they loaded the coffers of the big five oil companies: BP, Chevron, Conoco Phillips,
In Jan 2009 when President Obama entered office, a barrel of oil was $30.00 a gallon, today a barrel of oil hit $80.15 . Gasoline prices are over $3.00 a gallon and are predicted to rise to $4.00 a gallon.
In 2007 the Democrats took control of Congress with a lame duck president.
The Democrat congress immediately passed ethanol legislation , that bill essentially took corn out of the food chain ,eventually causing a shortage of corn in the world markets, result food prices escalated.
Oil speculators knowing that the Dem’s would not open or release permits to drill for oil went wild. Before the Dems took over oil was $45.00 a barrel, in 2007 oil prices soared to $125.00 plus a barrel. George Soros and Goldman Sachs hedge funds made a ton of money. The oil companies made record profits. The government should be happy when companies make profit. Reason being that the government also receives taxes to go into the treasury. The government exploits private business for making profit, profits are good .
Result of which was the start of the great recession creating the mortgage problems and the rise in unemployment.
When the Dem’s took over in Jan 2007, unemployment was 4.6% rising to 6.75 % in DEC.2008. In Jan. 2009 the Dems took full control of the government when Obama was elected. President.
After 16 months, unemployment is 10% and the only jobs that Obama has saved are public government union jobs.
That the $700 billion tarp bailout money to the banks has been repaid with interest.
The $825 billion Obama recovery fund has only spend roughly 30%.The private sector jobs are nowhere in sight.
Be prepared for another round of recession, why, because gasoline prices are escalating and food prices will continue to be more costly. The passage of healthcare reform legislation is another factor to increased costs.
FOR UNCUT AND UNCENSORED NEWS
Check out foxnews.com , point to Glen Beck to get startling information on Goldman Sachs , Obama and company.
I'm glad to see you've made that point -- that TARP has been repaid, but the even greater so-called Stimulus/Recovery fund has hardly been spent, theoretically, and certainly not in any way to 'stimulate' jobs.
Don't forget Cap and Trade, or whatever new name they will call it in the future as they've now realized 'cap and trade' has negative Tax connotations to the American people.
The passage of Cap and Trade in the US is a money making machine blessed and promoted by the United Nations, the ultimate political machine, and the passage of cap and trade legislation is critical to the long range plan of increased entitlement spending both here in the US and abroad on the US dime.....and 'entitlement' spending is fast becoming redefined, and no doubt the internal projections of this administration for 'entitlement' spending are dependent on "cap and trade" monies.
DO YOU KNOW WHO IS BEHIND CAP AND TRADE ?
CHECK IT OUT goldman sachs,al gore,obama and the joyce foundation
videos of this weeks expose.
If you missed the 4/29/10 Glen Beck show ON Fox News cable ,the expose got much bigger. Urgent Viewing for all Huber's interested in finding the truth of who is running the country and why. The big question really is why has the mainstream media been so silent on what's happening in Washington.
Hi Jinks for once check Beck this week. the red phone ( white house ) has not rung. The man I believe is fearful for his life after this weeks shows.
I am quite familiar with cap and trade and it's basis, I have read through most of the last version of the bill, except for the massive pages devoted to HUD and new housing programs, and have written several hubs in that regard, primarily from the viewpoint of the FAO's Vegetarian Vendetta against livestock and farming.
And, yes I am aware that Goldman Sachs stands to make massive sums of money from cap and trade in the US and the mainstream media simply doesn't address this, and Fox does not cover the issue nearly enough.
And the US mainstream media as well does not in any way address the major headlines of the last several weeks in regard to the rampant fraud in the EU carbon trading 'scheme' -- it's all about making the rich and the clever, richer.
The cap and trade legislation in the USA has Minimal to Nothing to do with helping the "under-advantaged", much less the ENVIRONMENT, except as a residual handout here in the US to low income residents that will make for excellent rhetoric, and in reality only serves to widen even further the gap between the rich and the poor and open the way for Socialist control of the farmlands of America - in my Opinion.
Beck get to the bottom of things better than anyone. It's to bad liberal's only listen to each other.
A long time ago, some smart politician looking at the proliferation of automobiles and trying to respond to the demand for public roads, realized there is no system more fair than taxing fuel to pay for roads. The more gas you use, the more you are tearing up the tarmac. Of all the use taxes out there, this remains the most fair. If you disagree, point me at the conservative alternative to a gas tax to pay for roads.
Because taxes collected from the government are for the maintenance of society, while profits collected by oil companies are for one man's bank account.
One man who doesn't give a dam about the environment he's destroying, the people's lives he's destroying, the wildlife he's destroying, the air, the water, cutting off and blowing up the earth he's destroyin ALL for his OWN benefit. All to make that money.
And if you can't see that with this recent BP disater, than when will you? Do you know, there is one person who regulates the whole oil industry as far as safety goes? It's done on the honor system. The oil companies are allowed to regulate themselves. And you see where their concerns lie, do you not? Same goes for that mine disaster. This is the true face of free-market.
How many of these disasters have there been througout the word? A lot! Whole communities have been destroyed by the companies callous disregard for anything but "making a buck". In fact, didn't a whole country sue Exxon?
So, that 4% profit IS obscene. For the damage it does to other living things--the callous disregard for life. All so a few people can live like kings.
Companies want the freedom to destroy at their will...call it a bane on their existance if they are forced to be accountable to the world around them, then do anything they can to avoid paying taxes at all.
And people say the gvt. is the problem???? HA!
love, Taxes are paid on profits. You also believe Israel went to Haiti to harvvest organs. It's very difficult o believe what you believe.
Forbes magazine published what the top U.S. corporations paid in taxes last year (2009). “Most egregious,” Forbes notes, is General Electric, which “generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.” Big Oil giant Exxon Mobil, which last year reported a record $45.2 billion profit, paid the most taxes of any corporation, but none of it went to the IRS:
Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.
Despite benefiting from corporate welfare in the U.S., Exxon complains about paying high taxes, claiming that it threatens energy innovation research. Pat Garofalo at the Wonk Room notes that big corporations’ tax shelter practices similar to Exxon’s shift a $100 billion annual tax burden onto U.S. taxpayers. In fact, in 2008, the Government Accountability Office found that “two out of every three United States corporations paid no federal income taxes from 1998 through 2005.”
Tell me another one love.
And I believe what was reported by the Aftonbladet newspaper...why wouldn't I believe they were doing it in Haiti too?
Did you SEE Operation Cast Lead???
Unconsciounable is unconsciounable no matter how you spin it.
love, G.E. is one of the largest supporters of Obama.
Cast Lead: If anyone fired 12,000 rockets in a year at the USA; what do you think we would do? Why don't you talk about all the men, women and children in Sderot, Israel. They have to go into shelters a few times a day. Would the effect you in any way?
"while profits collected by oil companies are for one man's bank account."
Not exactly, I own stock in a couple of different oil companies and so do many, many people! A lot of bank accounts were affected, but I guess not yours. Shame isn't it!
Bet I can't!
Everything has been monopolized by oil!!!
What choices do I have?
Who killed the electric car?
Who bought Tesla's ideas and squashed them?
Who has fought for 9 years to squash the Wind Farm off Cape Cod, and to this day is making tax-payers fund their law-suits???
Who pray tell was pres and vice pres for 8 long years, whereby the oil companies reaped HUGE profits, and the middle class sank into debt?
awwwwww, not ole Republicans again....BINGO!
I didn't sink into debt! I don't know anybody who sank into debt because oil companies made a profit.
love, I guess the oil companies lost money under Clinton. If companies don't make what they need; what happens. Maybe you want socialism; do you?
Never met a cost increase they didn't like.
but that's not like taxes is it?
Not BECAUSE of oil...it's an analogy.
This thread asked why do Democrats like taxes vs profits, and I'm sayin...I like Democrats because..."Look what the Republicans do!"
Oil companies made profits, paid no taxes, while SQUANDERING the life of this planet.
They have been getting away with murder because no one watches them!!!
This is what happens with "Gvt is the problem", anti-regulation ideology.
They had friends in high places....the very top.
I don't want anyone making any profit on that thank you very much.
The dems aren't any different. I could point out just as many rotten things the dems do as you can the repubs. The key is to hold on to what actualy works vs. what they tell you works. There is really no point in throwing out the baby with the bath water.
You are going to tell me that oil works...even now?
No body needs to tell me anything...I can see it with my own eyes!!!
And I hope you notice, things are starting to actually GET DONE about all this abuse.
And it's not the Republicans doing it either...in fact, they are obstructionists of the highest order!
Our military holds technologies that will make oil irrelevant...give them up!
Oh and there is plenty of moola to go around too, just depends on who holds the purse strings huh?
Taxes vs profits??
How about people vs corporations?
Harvey, Beck's contribution to comedy is admirable. I used to watch a lot of parody, now if I need a real belly laugh I get my news from the BBC then watch what Beck makes of it!
earnest, The BBC has lied frequently about Israel. This can be checked out at wwwhonestreporting.com Thhey will give you facts and let you know who the BBC sources are. I have learned much from them.
Beck: He is an old fashioned comedian, but if you check his "so called" facts, you will find that they are true.
by Doug Hughes5 years ago
When gas prices were going up, Wingnuts were tripping over each other in a rush to blame the president. Even though he had nothing to do with it.President Obama ordered a release of strategic reserves. Prices have...
by Brian5 years ago
This may not be news to a whole lot of people, but, I am getting sick of this. Why isn't the Government doing anything about it, especially when they know that it is killing our economy? Not, to mention that we are...
by kerryg5 years ago
Contrary to what has been suggested in several posts here over the last few weeks, Obama's supposed imposition of "regulation after regulation, roadblock after roadblock" is not what's holding up domestic oil...
by Stump Parrish6 years ago
How do we make sure this doesn't happen again you ask? Deregulate further and open more of the gulf to drilling. That could only makes sense to those in the oil companies back pockets.
by Gary Anderson4 years ago
Worried about the price of gas? Our oil companies aren't. They export oil in the SF Bay and in April will start exporting West Texas Intermediate (WTI) from the Gulf of Mexico. http://www.businessinsider.com/the-asto...
by Jane Stevens5 years ago
Truck drivers couldn't fill their rigs, Airlines couldn't afford to fuel up, shipping prices drove prices up on the shelf, companies started laying off people, the job market started falling in big numbers, the...
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.