http://dodd.senate.gov/index.php?q=node/3336
shempmcgurk wrote:
>--- In [email protected], Bhairitu <[EMAIL PROTECTED]> wrote:
>
>
>>shempmcgurk wrote:
>>
>>
>>
>>>--- In [email protected], Bhairitu <noozguru@> wrote:
>>>
>>>
>>>
>>>
>>>>shempmcgurk wrote:
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>>I love the way people are so angy with the oil companies.
>>>>>
>>>>>I myself think that the oil companies should embark on a
>>>>>
>>>>>
>campaign
>
>
>>>>>
>>>>>
>>>>>
>>>>>
>>>of
>>>
>>>
>>>
>>>
>>>>>purposely gouging consumers.
>>>>>
>>>>>Let the price go up to $7.00 a gallon! Ha-ha!
>>>>>
>>>>>It will only be then that people will start to use less and
>>>>>
>>>>>
>dump
>
>
>>>>>
>>>>>
>>>>>
>>>>>
>>>their
>>>
>>>
>>>
>>>
>>>>>gas-guzzling SUVs.
>>>>>
>>>>>And, most importantly, we can get around to developing
>>>>>
>>>>>
>>>>>
>>>>>
>>>alternative
>>>
>>>
>>>
>>>
>>>>>fuels.
>>>>>
>>>>>Can't do it without the $7.00 a gallon price...
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>
>>>>I would like to see a windfall profits tax on the oil companies.
>>>>
>>>>
>>>>
>>>>
>>>
>>>Personally, I think a 40% corporate tax rate is windfall
>>>enough...FOR THE GOVERNMENT!!!!!
>>>
>>>Exxon made a profit of $36 billion last year on sales of $328
>>>billion. That's about 11 cents profit on each dollar of
>>>revenue...hardly a "windfall".
>>>
>>>So under which circumstances, Bhairitu, would your windfall
>>>
>>>
>profits
>
>
>>>tax kick in???
>>>
>>>
>>>
>>>
>>>
>>>
>>When the price of oil is above $40 a barrel. It would be a 50%
>>
>>
>tax.
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>
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>Okay, you say a "50% tax" once the price of a barrel is above $40.
>
>Now, this would be a tax on...what?
>
>Their net profit?
>
>A 50% excise tax on each barrel of oil that an oil company buys?
>
>A 50% tax on each gallon sold at the pump?
>
>Please, a few more details so I can understand your proposal...
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>>There are several proposals and this is one of them.
>>
>>Exxon probably has some very creative accounting too. :)
>>
>>
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