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Started By
Message
re: New oil tax being proposed
Posted on 3/11/22 at 9:16 am to BurningHeart
Posted on 3/11/22 at 9:16 am to BurningHeart
quote:
single filers would receive approximately $240 a year, and joint filers would get about $360.
First off, filers shouldn't be receiving shite. People paying taxes are the only ones that should receive any bs credits they come up with. Secondly, that little extra doesn't do a damn thing for an individual person, meanwhile massively fricks with oil companies.
Regardless of what is said in the bs bill, that increase will be reflected in the price.
Typical democrats, frick up the economy and then think you can tax your way out of it. When something this ludicrous is proposed, we should be allowed to just take these frickers out back and shoot them.
Posted on 3/11/22 at 9:18 am to BurningHeart
This is obviously a poor idea but I don't believe the goal is to pass it, the goal is to issue a threat to the oil companies.
She's right that these companies are going to haul in record profits this quarter and in the near term. She's right that those profits are coming directly from the pockets of American taxpayers. She's right that taxpayers send billions of dollars a year in free money in the form of subsidies. She's right that gas is essentially a utility product which the economy as a whole relies upon as being reasonably priced.
Capitalism is amazing except when it's not. There are price controls on all kinds of things in this nation, especially in the utilities space. I feel she's threatening these companies to police themselves or else DC will help them become good stewards of the American economy.
I forget which company it was, but they were on the Hill yesterday and a congresswoman asked them straight up, "In this time of record profits at the cost of American pocketbooks, will you redirect your dividend payouts to cost reductions?". They refused to answer.
She's right that these companies are going to haul in record profits this quarter and in the near term. She's right that those profits are coming directly from the pockets of American taxpayers. She's right that taxpayers send billions of dollars a year in free money in the form of subsidies. She's right that gas is essentially a utility product which the economy as a whole relies upon as being reasonably priced.
Capitalism is amazing except when it's not. There are price controls on all kinds of things in this nation, especially in the utilities space. I feel she's threatening these companies to police themselves or else DC will help them become good stewards of the American economy.
I forget which company it was, but they were on the Hill yesterday and a congresswoman asked them straight up, "In this time of record profits at the cost of American pocketbooks, will you redirect your dividend payouts to cost reductions?". They refused to answer.
Posted on 3/11/22 at 9:20 am to mmmmmbeeer
quote:
I forget which company it was, but they were on the Hill yesterday and a congresswoman asked them straight up, "In this time of record profits at the cost of American pocketbooks, will you redirect your dividend payouts to cost reductions?". They refused to answer.
And when your 401k or 403b is impacted negatively, you scream bloody murder.
Posted on 3/11/22 at 9:21 am to mmmmmbeeer
quote:
This is obviously a poor idea but I don't believe the goal is to pass it,
like most things senators do, it is all theater. She can go back to her Boston base and say she tried. Go to r/politics, i am sure they are eating the corn off of Warren's cob. Right now they can blame Joe Manchin but in 8 months they will be able to blame the entire GOP for biden being a complete lame duck. Both sides do the same shite.
Warren will submit a student loan forgiveness bill within weeks after the midterms
This post was edited on 3/11/22 at 9:24 am
Posted on 3/11/22 at 9:22 am to mmmmmbeeer
Well the government fear mongering hurt these same companies just 2 years ago with their covid bullshite
Funny how people forget that.
Funny how people forget that.
Posted on 3/11/22 at 9:23 am to mmmmmbeeer
quote:
I forget which company it was, but they were on the Hill yesterday and a congresswoman asked them straight up, "In this time of record profits at the cost of American pocketbooks, will you redirect your dividend payouts to cost reductions?". They refused to answer.
Please tank your own stock price because we don't like that the product you produce is expensive right now and you are making more money. Also, we recognize that we have more control over the price of said product than you do
Posted on 3/11/22 at 9:26 am to TeddyPadillac
We really have some ignorant mf’ers in our country.My SIL has 2 college degrees,was complaining when Trump cut the corporate income tax.
I had to explain to her like she was a first grader that corporations don’t pay taxes ,customers do.Her reply-“how is that?”
I was ready to pull my frickin hair out.
She has an IPhone and Apple laptop.I then explained to her that Apple had their corporate headquarterss in Ireland at the time because tax rates were lower in Ireland than U.S.Of course she didn’t know that.The profit they made from selling her a phone and laptop were taxed at a lower rate so they could keep more profits and spend more money on product development and maybe lower prices.
One of her degrees is in Special Ed.And we wonder why our kids are so ignorant.
I had to explain to her like she was a first grader that corporations don’t pay taxes ,customers do.Her reply-“how is that?”
I was ready to pull my frickin hair out.
She has an IPhone and Apple laptop.I then explained to her that Apple had their corporate headquarterss in Ireland at the time because tax rates were lower in Ireland than U.S.Of course she didn’t know that.The profit they made from selling her a phone and laptop were taxed at a lower rate so they could keep more profits and spend more money on product development and maybe lower prices.
One of her degrees is in Special Ed.And we wonder why our kids are so ignorant.
Posted on 3/11/22 at 9:28 am to Lonnie Utah
quote:Our electric grid experiences problems when a heat wave comes and there is a mass move towards everybody cranking up their AC system. What exactly do they think is going to happen when you have millions of American drawing power off the grid to charge their vehicles at night (all at one time)?
When we're all forced to electric cars
As with everything else, it may have been a good idea to make sure we have a near fail safe infrastructure in place before pushing everybody towards electric vehicles.
Also, what is their plan for battery disposal? I doubt they thought that part out either.
Posted on 3/11/22 at 9:28 am to BurningHeart
I wonder if it includes “royalty relief” if the prices goes below a certain level and the government will give up their cut on the front end.
You did know the government gets a cut on the front end, right?
You did know the government gets a cut on the front end, right?
Posted on 3/11/22 at 9:33 am to mmmmmbeeer
quote:
mmmmmbeeer
Right on cue and I was correct. You left wing idiots trying to justify this is definitely amusing
Posted on 3/11/22 at 9:38 am to mmmmmbeeer
quote:
by mmmmmbeeer
This is obviously a poor idea but I don't believe the goal is to pass it, the goal is to issue a threat to the oil companies.
She's right that these companies are going to haul in record profits this quarter and in the near term. She's right that those profits are coming directly from the pockets of American taxpayers. She's right that taxpayers send billions of dollars a year in free money in the form of subsidies. She's right that gas is essentially a utility product which the economy as a whole relies upon as being reasonably priced.
Capitalism is amazing except when it's not. There are price controls on all kinds of things in this nation, especially in the utilities space. I feel she's threatening these companies to police themselves or else DC will help them become good stewards of the American economy.
I forget which company it was, but they were on the Hill yesterday and a congresswoman asked them straight up, "In this time of record profits at the cost of American pocketbooks, will you redirect your dividend payouts to cost reductions?". They refused to answer.
You left out the part about government getting their cut of the record profits. Government will get consumer dollars too whether there’s a new tax or not.
Posted on 3/11/22 at 9:40 am to BurningHeart
quote:
New oil tax being proposed
Communists tax and ban everything they hate.
Posted on 3/11/22 at 9:42 am to mmmmmbeeer
quote:
She's right that these companies are going to haul in record profits this quarter and in the near term
Because of government action
You people blame capitalism, when your precious government creates the problem.
Posted on 3/11/22 at 9:59 am to BurningHeart
quote:
The revenue raised from the tax would be sent to individuals quarterly. The payments would phase out for individuals earning more than $75,000 or couples earning $150,000.
The revenue raised should be for pay increases & bonuses for oilfield baws.
Posted on 3/11/22 at 10:01 am to RogerTheShrubber
quote:
You people blame capitalism, when your precious government creates the problem.
I believe capitalism is a net good for society but obviously needs checks and balances.
Most people that get mad at capitalism are usually angry at crony capitalism, or capitalism that has been run through government’s prying hands.
This post was edited on 3/11/22 at 10:02 am
Posted on 3/11/22 at 10:03 am to mmmmmbeeer
Can’t you just carpool with your wife’s boyfriend?
This post was edited on 3/11/22 at 10:03 am
Posted on 3/11/22 at 10:05 am to BurningHeart
quote:
estimates that single filers would receive approximately $240 a year, and joint filers would get about $360.
So, three or four tanks of gas?
This is as ridiculous as thinking sending everyone three $1200 checks over a period of 15 months was a good idea.
Posted on 3/11/22 at 10:18 am to Larry_Hotdogs
quote:
Twitch streamers are raking in millions and getting paid cash and I'm lacing up my steel toed clown shoes and driving out to the middle of nowhere to work a rig.
What a time to be alive
Learn to code.
Posted on 3/11/22 at 10:20 am to fallguy_1978
quote:
Please tank your own stock price because we don't like that the product you produce is expensive right now and you are making more money. Also, we recognize that we have more control over the price of said product than you do
A temporary dividend cut will not "tank" the stock price of oil companies.
For one, lower gas prices leaves more money in the pockets of more Americans who, in turn, spend that money, creating more economic activity and, therefore, more demand.
For two, a dividend cut does nothing to impact revenues. Institutional traders certainly pay attention to dividends, but they aren't going to abandon companies with strong financials due to a temporary dividend cut. Institutional traders are not emotional traders, like most of the idiots on this board.
I'm a capitalist. I'm not an unchecked capitalist. When companies of great public value look out for their own bottom lines at the expense of the public at large, frick 'em. Twist their arms if we need to. Were you cool when pharma would increase costs on insulin just because they could?
Posted on 3/11/22 at 10:20 am to BurningHeart
Not just oil related, but when did we ditch our efforts to destroy and limit monopolies in this country. Seems they are running wild. I guess lobbyists are doing their work
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