except.............................
Posted on 06/03/2022 7:15:58 AM PDT by dynachrome
The Biden administration is considering a proposal to tax oil and gas windfall profits to provide a gas subsidy for American consumers struggling with high energy prices, said Bharat Ramamurti, deputy director of the National Economic Council at a panel sponsored by the Roosevelt Institute think tank on June 2.
The news follows a similar move in the U.K. by Chancellor Rishi Sunak on May 26, to impose a 25 percent windfall tax on North Sea energy producers to provide a 15 billion pound ($18.9 billion) energy fund subsidy for Britons paying for soaring fuel costs.
The White House has been examining proposals from Congress that would hike taxes on energy producers in order to provide a subsidy or tax rebate to households.
“We are very much open to any proposal that would provide relief to consumers at the pump,” said Ramamurti.
(Excerpt) Read more at theepochtimes.com ...
And the socialism continues until you get.....
Venezuela
Redistribution. (spit)
Hmmmm… the old axiom is “if you want LESS of something, TAX IT”.
The war on oil just went to Defcon 4.
retroactive tax increase? Aren’t going to be any future profits so what is the point?
Jimmy Carter did this, how did that work for him?
“We are very much open to any proposal that would provide relief to consumers at the pump,” said Ramamurti.
Liar!
We are very much open to any proposal that would provide relief to consumers at the pump,” said Ramamurti.
Commies hate profits that don’t go into their pockets.
The Biden Administration? Who the hell is running this insane asylum?
I suppose I should probably buy a 500 gallon gas tank, this guy is heading us into a crisis.
Worse, a windfall profit tax would be yet another signal to US oil companies that they should not invest in new exploration or production.
This would result in Saudi Aramco being the only remaining oil major in several decades. But don’t worry, I’m sure with a global monopoly Aramco will be motivated to act in our best interest.
Windfall profits like Pelosi’s drunken husband buying rubles at their crash or his/her general insider trading?
Except drilling and refining.
...tax oil and gas windfall profits to provide a gas subsidy for American consumers struggling with high energy prices
Just take 100% of all profits at all companies and send it back to consumers struggling with high costs of everything. After paying The Big Guy his cut (and the thousands of other parasitic hangers-on in Washington), of course. Won't life be grand?
> to provide a subsidy or tax rebate to households <
There ya go. Checks will arrive maybe a week or two before the November elections. What a coincidence that will be.
Fortunately the Republicans in the Senate will block this effort. I kid, of course. The GOP will roll over, once again.
All of the Oil and Gas companies should immediately HALT All sales and Deliveries to any locale within 200 Miles of DC
The companies will just pass the cost on to the consumer.
They won’t eat the loss..
Businesses don’t pay taxes.
They collect them.
L
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