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Dems propose 'Reasonable Profits Board' to regulate oil company profits

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Obama's boys are completely out of control...

http://thehill.com/blogs/floor-action/house/205085-dems-propose-reasonable-profits-board-to-regulate-oil-company-profits

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The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.



What are they going to do when they realize just how low the returns actually are? Watch them simply quote absolute numbers "- look they made $20B dollars!!! That's obscene!!!"
We are all engines of karma

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Obama's boys are completely out of control...



My bet is that he, and his boys, will get re-elected.
"Mericans, as a group, aren't real bright.
My reality and yours are quite different.
I think we're all Bozos on this bus.
Falcon5232, SCS8170, SCSA353, POPS9398, DS239

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Don't know enough about the money part to know who's bullshitting who on this one, but it does occur to me that it was a mistake to give control of non-renewable resources to private companies.
" . . . the lust for power can be just as completely satisfied by suggesting people into loving their servitude as by flogging them and kicking them into obedience." -- Aldous Huxley

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it does occur to me that it was a mistake to give control of non-renewable resources to private companies.



Now THAT'S something to think about. A private company could hold entire nations up for ransom.

Oh, wait......
My reality and yours are quite different.
I think we're all Bozos on this bus.
Falcon5232, SCS8170, SCSA353, POPS9398, DS239

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Could you imagine what it would be like if companies made 66 cents er gallon profit? Take California, when 66 cents of every gallon sold goes to federal, state and local government taxes and fees.

For every ten gallons, that's $6.50 cents going to the government. And the profits that are being turned by the oil companies? For refining, shipping, end-point selling? 6 or 7 cents?

And then the government wants to profit even more from it. How ridiculous.


My wife is hotter than your wife.

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Could you imagine what it would be like if companies made 66 cents er gallon profit? Take California, when 66 cents of every gallon sold goes to federal, state and local government taxes and fees.

For every ten gallons, that's $6.50 cents going to the government. And the profits that are being turned by the oil companies? For refining, shipping, end-point selling? 6 or 7 cents?

And then the government wants to profit even more from it. How ridiculous.




It's worth knowing how the government defines the word "reasonable" isn't it?

it puts perspective on other words too - 'defense', 'fair', 'equal', etc etc etc

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

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Could you imagine what it would be like if companies made 66 cents er gallon profit? Take California, when 66 cents of every gallon sold goes to federal, state and local government taxes and fees.

For every ten gallons, that's $6.50 cents going to the government. And the profits that are being turned by the oil companies? For refining, shipping, end-point selling? 6 or 7 cents?

And then the government wants to profit even more from it. How ridiculous.



They shoot for .04 per gal
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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Could you imagine what it would be like if companies made 66 cents er gallon profit? Take California, when 66 cents of every gallon sold goes to federal, state and local government taxes and fees.

For every ten gallons, that's $6.50 cents going to the government.

I wasn't aware that the oil companies paid to build and maintain roads, or enforce laws (Highway Patrol). That's why I like Speakers Corner, I learn stuff all the time here.

I would have thought that a system of "user pays" would appeal to a Libertarian. And, it's easier to pay at the pump than it is to stop for a toll booth every couple of miles. Don't know how to ensure that electric vehicles pay their share for road upkeep, though.

Don
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Tolerance is the cost we must pay for our adventure in liberty. (Dworkin, 1996)
“Education is not filling a bucket, but lighting a fire.” (Yeats)

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Obama's boys are completely out of control...

http://thehill.com/blogs/floor-action/house/205085-dems-propose-reasonable-profits-board-to-regulate-oil-company-profits

Quote


The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.



What are they going to do when they realize just how low the returns actually are? Watch them simply quote absolute numbers "- look they made $20B dollars!!! That's obscene!!!"




This is just tghe first step in controling prices in all business.

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Obama's boys are completely out of control...

http://thehill.com/blogs/floor-action/house/205085-dems-propose-reasonable-profits-board-to-regulate-oil-company-profits

Quote


The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.



What are they going to do when they realize just how low the returns actually are? Watch them simply quote absolute numbers "- look they made $20B dollars!!! That's obscene!!!"


You haven't figured it out? The Cap on what is considered a "Windfall profit" each year will be set by what Obama's boy, Jeffy Imelt at GE makes.....:ph34r:

Here is how it's going to work using last years numbers:
Everything over $14Billion last year would be taxed at 100%

Everything under $14Billion will be taxed at 51%

Tax exemptions will be governed by what ever industry is supported by GE, so their tax rate will still be Zero.

Ain't it great to have a politician in your pocket?
"There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss."
Life, the Universe, and Everything

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This is just tghe first step in controling prices in all business.



It's pretty clear to me that Obama, et. al., are intent on destroying capitalism. We'll be left with a system where wise people, appointed by Obama, decides what's right. Truly frightening stuff.
We are all engines of karma

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>It's pretty clear to me that Obama, et. al., are intent on destroying capitalism.

I thought he was a terrorist who was going to bring Sharia law to the US.

Gotta keep your conspiracy theories straight, or people will start going with the more popular ones, like "Obama wants to ban all guns" or "Bush pulled off 9/11."

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It's pretty clear to me that Obama, et. al., are intent on destroying capitalism. We'll be left with a system where wise people, appointed by Obama, decides what's right. Truly frightening stuff.




Destroying capitalism? I wonder why he bailed out all those evil capitalistic banks?

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What are the odds that the Democrats will go after Hollywood to pass a "Reasonable Profits Board" on that industry? Zero to nil? There is not a hope in Hell that the millionaires and billionaires who invent pretend worlds out of thin air need worry about O'Bummer coming after the extreme profits they make. After all it was Hollywood who invented O'Bummer out of thin air. If it wasn't for Hollywood, O'Bummer would not be our Messiah and our Superhero Socialist Savior of the Universe.


Try not to worry about the things you have no control over

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What are the odds that the Democrats will go after Hollywood to pass a "Reasonable Profits Board" on that industry? Zero to nil? There is not a hope in Hell that the millionaires and billionaires who invent pretend worlds out of thin air need worry about O'Bummer coming after the extreme profits they make. After all it was Hollywood who invented O'Bummer out of thin air. If it wasn't for Hollywood, O'Bummer would not be our Messiah and our Superhero Socialist Savior of the Universe.



You sir, are hilarious.

What's up with the "our" stuff, eh?
quade -
The World's Most Boring Skydiver

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Note to self: do not ever question Obama the Messiah and Superhero Savior of the Universe because if you do, the moderators on the DorkZone will commence their attacks on you for they can not handle it when people do not accept Obama for what he really is, nothing more than a creation of the Hollywood elites.

Once again what are the odds that the Democrats will create a "Reasonable Profits Board" for the extreme profits that the Hollywood elites pull in? Zero to nil?


Try not to worry about the things you have no control over

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Did you question any of the Europeans who showed up to O'Bummer's rallies (remember Obama decided to make campaign stops in Germany during the 2008 election season). Did you question the Nobel Peace Prize committee who decided to award Obama a Nobel Peace prize before he even took office? Face it, Hollywood marketed Obama to the entire world, not to just their Democrat supporters in the USA (hence the "our" Messiah and Superhero Socialist Savior of the Universe label).

I can't vote in your elections so I try to curb my comments concerning the actual political process (ie: you don't see me making posts about the present GOP leadership race). But the moment Obama starts down his "anti-business" and "anti-trade" path claiming "Reasonable Profits" for anyone except his core supporters in Hollywood, I will speak out regardless of what country of citizenship I possess or where I call home. Obama's anti-business and anti-trade policies effects more than just citizens of the USA.


Try not to worry about the things you have no control over

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He's just not your anything.

Agreed. That's why I find that whole "leader of the free world" thing so annoying. No-one but US citizens can vote for the US President, so why do Americans think their president is leader of anyone else? Do they not believe Canadians/Brits/Germans/etc can select their own leader?

Don
_____________________________________
Tolerance is the cost we must pay for our adventure in liberty. (Dworkin, 1996)
“Education is not filling a bucket, but lighting a fire.” (Yeats)

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That's why I find that whole "leader of the free world" thing so annoying.



Agreed and the concept has gotten the US into a lot of trouble over the years. We ought to put an end to it.
quade -
The World's Most Boring Skydiver

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