re: New oil tax being proposed

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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.

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quote:

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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.

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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.

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