Barack Obama wants to impose a "Windfall Profits Tax" on the oil companies. Now friends, I'm not aligned in any way with big oil, nor am I an apologist for them, but the fact remains the large oil companies only make 8% profit on their product.
Granted, if you look at it as 8 cents made per dollar of gasoline, they're obviously making a crap-load of money. Record profits, as a matter of fact. And the Democrats, currently led by Barack Obama, want them to pay dammit. They must pay for their profits. They are robbing us blind, those bastards, and they must pay!!!!! THEY MUST PAY!!!!!!!!!!!!!!!!!!!
Unfortunately, there is that matter of only an 8% profit margin.
McDonald's makes 13.7% profit.
Google makes 29.4% profit.
Microsoft makes 28.3% profit.
NBC Broadcasting makes 20.5% profit.
CSX Trains makes 20.5% profit.
Okay....you get the idea. The list of major corporations in America that are making huge profits is astounding, but Senator Obama only wants to tax the oil companies, who are providing us what we absolutely need. I can exist without watching NBC TV, I could live without google, and McDonalds gives me diarrhea, a word I hate using because I can't ever friggin' spell it correctly. Soft peddaled in all of this is the fact that the oil companies are also the people who do the research and spend the money on expanding our alternative energy sources, a fact seemingly lost on Senator Obama and much of America.
Also lost on him is his law school alma mater, Harvard. Harvard currently has an endowment totalling close to $35 Billion dollars. Billion. Billion. Billion. Harvard continues to charge $57,000.00 per year for nearly 6,000 undergrads and 4,500 post grad students, and they have $35 Billion accruing interest in the bank. If they keep it in there for 10 years - and do not add or subtract from it - they'll have well over $200 Billion in 2018, and they're still charging people full price to go to their institution. At $57,000.00 per year - which hardly any other college or university is charging - Harvard could fully educate 20,000 kids a year on 1/35th of their endowment for free...but they don't.
They keep making, and they don't do any giving. And much like the other companies I mentioned, no one needs Harvard. You can get a fine education hundreds of other places.
[In any event, where's the windfall profit tax on them? Ha! You're kidding right, JL4? The government is going to tax Harvard for making a shitload of coin? Barack Obama is going to tax his alma mater? Are you trying to imply that taxation should be equal and fairly allocated to everyone and every business? What the hell is wrong with you, JL4?]
Nope....he's going to impose windfall taxes on the oil companies alone, and that's going to help out all the American people, right? Ummmmm....not right. If they're only making 8% now, and Obama wants to slam the crap out of them for making that, they're not going to LOSE money to pay their taxes....they're going to raise the price of fuel again.
Which isn't going to help anyone.
So the short version of what I'm saying is this. Yes, the oil companies make a lot of money - but they do it with volume. Of all the corporate entities in this country, they are down at the bottom of the pack with respect to taking consumer's dollars. We allow Microsoft, major universities, McDonald's, Wendy's, etc. make huuuuuuuuuge jack, and we praise them as All-American "institutions".
Exxon or Shell make money, and we vilify them and call them evil...the cause of all our woes.
As sure as I'm typing this, they couldn't possibly have it more wrong. And the one's who will lose are going to be me and you.
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7 comments:
Obama and his wife are pseudo-intellectual, elitist snobs whose heads were filled with Marxist Communistic ideas while attending Ivy League schools. They are too young and inexperienced to have gained enough wisdom to become head of the Executive Branch of our government. Further they are black racists who have been brainwashed by their preacher and the mission of his church. Go to their church web page and read the Black Power mission statement. That, coupled with the well known statements of their pastor, Jerimiah Wright tells the whole story. The Democratic Primary has been driven by racism and pseudo-intellectual idealism perpetuated by the Obama campaign. Bill Clinton is not the racist in this instant affair, Obama is the racist, and his wife is so extreme as to be a danger. If they get into the White House I am moving to New Zealand.
To be honest, I have no idea if there were people web logging 8 or 9 years ago...I know I was not.
But if I was...
I'm 100% sure I would have been asking the then Vice President why he was focused on the carbon footprint of the World Trade Center air conditioners instead of on the assholes in the dynamite-packed Ryder truck in the parking garage in the basement.
And I thought it was just that the SUV-driving Harvard graduates who googled the closest address on their Microsoft operating system were tired of high gas prices because they idle so long at the McDonald's drive thru.
I don't have an Ivy league education. Can you tell?
If I myself had an Ivy League education, I probably would be reticent to admit McDonald's gives me diarrhea.
So we're in this thing together.
A "Windfall Profits Tax" is merely anther way for the government to say "You MAKE IT- We TAKE IT". Even if a windfall like this is heavily taxed- who benefits?
Our already oversized government.
I fail to see how Obama thinks this will help the average citizen.
The market will eventually correct the high gas prices due to supply and demand- as long as the politicans stay out of it.
There is no shortage of fuel- which makes all of this pretty interesting. Nor is there a shortage of "traders" (traitors) who want to speculate and float on the idea that oil will be 200 a barrel in 6 months.
But I think they are forgetting Economics 101.
I look forward to the day we make them remember.
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