Obama Poses Windfall Profits Tax on Oil Companies

4/8/2008 | econjack

[econjack]

Obama's same old political trick of getting more out of your pocket.

[AxelPaulsenJr]

Hussein Obama is this country’s worst nightmare, that is outside of Hildabeat.

[illiac]

We could have the tree huggers purchase a tree tax credit from algore.....

[wastedyears]

Good article

But unfortunately, nobody would even be allowed to pose that question.

[Alright_on_the_LeftCoast]

This is utter BS...the oil companies profit margins are 10%...10%!!! Would the brainless Osama have them operate for free? Would the idiots in the democratic party tax their friends in Silicon Valley since their profit margins run 50%....????? These stupid assholes.....total braindead fools!

[Graybeard58]

I’ve seen both the rat candidates referred to as socialists. That is just not accurate. They are both communists.

[ltc8k6]

Did Obama mention that Exxon paid $30B in taxes in 2007?

[rightwingcrazy]

I propose a windfall profits tax on politicians.

[CommieCutter]

Yeah so Obama can add to the 120 billion in taxes the government made off of Exons 40 billion in profit.

[goodnesswins]

Hmmmmm....following in the steps of Mugabe...and Chavez? How special.

[vietvet67]

Bravo for telling it like it is..

[PigRigger]

Every day we get closer and closer to seeing what Jimmy Carter’s Second Term would have been like...

[econjack]

This is utter BS...the oil companies profit margins are 10%...

You're absolutely right. But, when I ask students what they think about the idea, they think it's great. When I ask what the profit margin is for the oil companies, they say "over 100%". Obama misleads the public by stating Exxon "made $40 billion", when that's actually total sales, not profits. Smart people (i.e., us Freepers) need to spread the word about this BS before it gets out of hand.

[Myrddin]

A windfall tax on oil company profits will induce the company to be less profitable to avoid the tax. That in turn will result in less gasoline production. We'll be back to waiting in line by the last digit of our license plates and paying much higher prices for a scarce commodity. Marxists like Obama and Hillary love the accolades that attacking big corporations brings them with the mush for brains leftists who support them. They know the "little people" are too stupid to comprehend their real intent.

[econjack]

Every day we get closer and closer to seeing what Jimmy Carter’s Second Term would have been like...

LOL! Actually, I did pretty well with some zero-coupon bonds thanks to Jimmy's 21% prime interest rate!

[johnny7]

Odd days or even... it'll look the same.

[Argus]

If we had a windbag profits tax, Obama and the rest of the liberals would be broke.

[longtermmemmory]

Success Tax.

[econjack]

I remember driving my VW bug from Omaha back to my parent’s house in Ohio in the early 1970’s with two 5 gallon cans of gasoline in the back seat “just in case”. Talk about dumb!

[Reagan Man]

In 1960, Reagan wrote a letter to Nixon on JFK. It could easily apply to Obama today.

"Unfortunately, he is a powerful speaker with an appeal to the emotions. He leaves little doubt that his idea of the 'challenging new world' is one in which the Federal Government will grow bigger and do more and of course spend more.... Under the ... boyish haircut is still old Karl Marx ... There is nothing new in the idea of a Government being Big Brother to us all."