re: New oil tax being proposed

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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This is obviously a poor idea but I don't believe the goal is to pass it,

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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

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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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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

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When we're all forced to electric cars

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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)?

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.

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mmmmmbeeer

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Right on cue and I was correct. You left wing idiots trying to justify this is definitely amusing

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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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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.

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She's right that these companies are going to haul in record profits this quarter and in the near term

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Because of government action

You people blame capitalism, when your precious government creates the problem.

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You people blame capitalism, when your precious government creates the problem.

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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.

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estimates that single filers would receive approximately $240 a year, and joint filers would get about $360.

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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.

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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

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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?