turned down the increase in tax on oil companies.

[SCUDSBROTHER]

http://news.yahoo.com/s/ap/20080610/...qxjWMCpems0NUE

Not surprised that Republicans turned down the increase in tax on oil companies. Remember, in some convoluted way, this is good for the average American (right, un huh.) Why are the against the tax breaks for alternative energy sources. Got to see them sell that sh-tty load of garbage.

"Separately, Democrats also failed to get Republican support for a proposal to extend tax breaks for wind, solar and other alternative energy development, and for the promotion of energy efficiency and conservation. The tax breaks have either expired or are scheduled to end this year."

[wiphan]

Why would you want to tax a company for making profits? Taxing an oil company would only result in higher gas prices to the consumer. The company is not going to make less $ they will just pass the tax along to the consumer. If your business was selling oil would you want an extra tax just because you are making $. The way to lower oil prices and gas prices is thru drilling for oil in ANWR or off shore or use the oil shale that is prevalent everywhere in the US especially in the Dakota's. Not by taxing oil companies. Typically the democrats have blocked drilling/exploration in the past. Also, higher gas prices actually promote companies and people to finding alternative fuels or higher efficiency. We may not like it, but it has to hurt a little before any of us decides to actually do something or make changes.

[SCUDSBROTHER]

Most Economists argue that taxes stick to their bases: payroll taxes are largely paid by employees, sales taxes by consumers, and profit taxes by shareholders.The oil companies are taking about a 10% profit of what the consumer pays for gas.If they cut that to 5%, then Exxon Mobil would still make more than the 2nd most profitable U.S. Corp. (Walmart.) This 5%(of the price we pay for gas) could be used to encourage the growth of alternative sources of energy. If you want to know what's being passed on to the consumer, it's the hi price of gas that the airlines have to pay.Higher costs on low profit margin industries are passed on in higher prices to the consumer. What I don't get (at all) is the justification for being against tax breaks for alternative energy sources. You didn't write about that.

[wiphan]

Why should the government dictate the profit of any company? Don't you like capitalism? What you are suggesting is socialism more so by controlling how much a private company makes on its goods or services without allowing them to explore or drill for more oil. How does that make sense? You tell a company they can only make so much $ on what they are selling and in turn control them from making the product cheaper by not allowing them to explore or drill for more oil If we opened up drilling the price of oil would drop in half. Also employees don't pay all of payroll taxes employers pay SSI and Medicare as well if I am not mistaken

[wiphan]

http://www.anwr.org/Headlines/Charim...y-Converts.php

Check this article out. Might get more $ towards alternative energy sources without taking the $ out of our pockets. The problem with most democratic policies is that they like to tax business (which ulitmately taxes consumers) or tax consumers directly to achieve these subsidies or tax breaks for wind, solar etc. We could actually achieve this quicker and more efficiently by just opening up ANWR. Just my 2 cents

[Crown@club]

Originally Posted by wiphan

Why should the government dictate the profit of any company? Don't you like capitalism? What you are suggesting is socialism more so by controlling how much a private company makes on its goods or services without allowing them to explore or drill for more oil. How does that make sense? You tell a company they can only make so much $ on what they are selling and in turn control them from making the product cheaper by not allowing them to explore or drill for more oil If we opened up drilling the price of oil would drop in half. Also employees don't pay all of payroll taxes employers pay SSI and Medicare as well if I am not mistaken

Can't you tell - Scuds is a Socialist.

But a humorous Dodger Fan.

[GBBob]

Originally Posted by Crown@club

Can't you tell - Scuds is a Socialist.

But a humorous Dodger Fan.

[SCUDSBROTHER]

Originally Posted by wiphan

Why should the government dictate the profit of any company? Don't you like capitalism? What you are suggesting is socialism more so by controlling how much a private company makes on its goods or services without allowing them to explore or drill for more oil. How does that make sense? You tell a company they can only make so much $ on what they are selling and in turn control them from making the product cheaper by not allowing them to explore or drill for more oil If we opened up drilling the price of oil would drop in half. Also employees don't pay all of payroll taxes employers pay SSI and Medicare as well if I am not mistaken

This isn't true capitalism. There isn't true competition, and that's why somebody else doesn't have a chance to sell gas at a 5% profit instead of at a 10% profit. Sure, if there was a free market system in place,then you would have competition, and we would be paying about half the profit that we now pay to them. It's a fake system. Do bigscreen televisions all sell within $20 of each other(for the same inches?) No,they compete with each other. If you really want Capitalism, THEN ACT LIKE IT. Should be a lot more difference in the various prices of gas. There isn't.

[timmgirvan]

The fact that Exxon-Mobil is getting out of the market in the US should be a clue! I heard somwhere that we have reserves and oil(undrilled) to last the US for 100+ yrs. That should get us enough time to get all the green sciences on board for standing alone independently for energy. If the Knuckleheads in Washington REALLY wanted to secure the future generations, they'd be building desalinisation plants and finding a "safe" nuclear solution. In addition, The FARCE that is the stock market plays up the fear by speculations on how bad its gonna get here, the FDA couldnt put a safe drug on the market to save its butt,and govt controls and supervision of agriculture are bungled and mismanaged routinely. I think I'm done for now.......

[jwkniska]

Originally Posted by wiphan

Why would you want to tax a company for making profits? Taxing an oil company would only result in higher gas prices to the consumer. The company is not going to make less $ they will just pass the tax along to the consumer. If your business was selling oil would you want an extra tax just because you are making $. The way to lower oil prices and gas prices is thru drilling for oil in ANWR or off shore or use the oil shale that is prevalent everywhere in the US especially in the Dakota's. Not by taxing oil companies. Typically the democrats have blocked drilling/exploration in the past. Also, higher gas prices actually promote companies and people to finding alternative fuels or higher efficiency. We may not like it, but it has to hurt a little before any of us decides to actually do something or make changes.

I totally agree 100%.

[DogsUp]

I think what people fail to keep in mind are two things:

1) Corporations and the wealthy will always find a way to avoid paying taxes. Until you close the loopholes in the tax code, nothing will change.

2) You can raise the tax on oil companies all you want. It will not matter. All the oil companies (or any company) will do is pass the extra cost they incurred back to the consumer. If you raise the tax on them 10%, they will raise their costs by 10%.