Why do the Republicans say it’s wrong to tax windfall profits of big oil companies but ??
It’s okay for the government to tax Joe Sixpacks windfall winnings from state operated lotteries?
I know what the standard answer is, let’s try something original.
Related posts:
- Why did the Republicans block the Dems’ iniative for windfall taxes on Big Oil companies profits?
- How many more “Why are republicans opposed to taking windfall profits from BIG OIL” questions will be asked?
- Why do Republicans promote privatization of Profits, but the Socialization of Loss for big Business?
- Since ‘evil” insurance companies making ‘big profits’ will Pres. fix oil companies?
- Why can’t we take Hillary Clinton’s windfall big publishing profits?
The standard answer is, Don’t tax Joe Sixpack’s lotteries either.
Now what.
Big oil genius will just pass those tax hikes along to us.
I am afraid that if this legislation was succesfull the taxes would be passed on to consumers in the form of even higher gas prices. This is generally what companies do when expenses go up.
Uhm… it’s income and a windfall.
you answered this question in your question key words: “Republicans” and “big oil companies” when you mix these words anything goes my friend =)…..but seriously =(
Because large company’s pay politicians to not have to pay large taxes(both sides are just as bad)
Lottery winnings are taxable income, and so are oil company profits. But adding an extra tax on oil companies, simply because they are presently making money, does nothing to enable production of additional petroleum, or to reduce the price at the pump. Indeed, the latter would increase: there is a fundamental economic principle here: the ultimate consumer ALWAYS pays. Obama has proposed such a tax; it is one more example (not that any more are needed) of his profound and abysmal ignorance of basic economic principles.
There isn’t really a windfall profit that the oil companies make in order for warrant a windfall tax. You wouldn’t think that were the case, being that the gas prices are so high, but fuel companies only make $.10 on the dollar for fuel sales. Companies should be allowed to make 10% profit on their product without being charged with a “windfall tax”, shouldn’t they? The fuel companies are not to blame. It’s OPEC.
Republicans have no logical basis for opposing windfall profits tax. They’re just defending the interests of the oil companies versus defending and representing our interests. Intelligent legislation can address the basic issues but the Republicans don’t even want to look at anything except the continuing acceptance of whatever the oil companies and the speculators dish out. We’re just supposed to be quiet and pay up.
oil pays, but the States should stop taxing the lotteries
1) Lotto winnings fall under income tax, not windfall profits. Oil cos pay income tax as well
2) Oil cos EARN their profit, lotto winners do not.
3) Oil cos provide an essential resource that is required for us to live. A windfall tax will increase their costs, which they will pass on to the consumer, thus causing financial harm to Americans (seen a gas pump recently?). Taxing a lotto winner will not hurt other Americans.
Need I go on?
Kickbacks, campaign contributions, need I say more
You don’t get it because you are not a rich republican with oil stock or receiving money from them for your kids university education, a beach house, air fare, vacations for the family, well, you get the idea, the Democrats do the same things, but they don’t get as much so they don’t always vote against big business or the wealthy.
Because Joe Sixpacks earnings are not linked to 20 million Americans retirement pensions, 401Ks, and other American investment interests. It is money that is being earned from taking the risk of investing your life savings in drilling and refining oil. The rewards are ours now because we help build the business with our risks of putting capital into it when it wasn’t making money………..
Is Joe Sixpacks windfall winnings gonna’ cost me extra when I buy a lotto ticket?
Because Republicans only care about making the wealthy wealthier, no matter how much it hurts ordinary, hardworking Americans.
It is not right for the government to seize assets or monies from a company in a Free Market System. They took the risk. They earned it. In the process they employed thousands of Americans. They brought the product here. They did it to make money.
Why go to medical school, law school, or business school if the government is going to take what they consider “too much money”?
taxing oil companies deters oil exploration due to huge $ risks
hugs baby
dude,you need to stop listening to the fu*c*king libs ! the oil cos. have NO WINDFALL PROFITS . in order to have windfall profits a co. has to be totally NOT CONNECTED to the industry where the profits originate.oil cos. are in the oil business,so any profit is part of the business is normal.SO IT IS NOT A WINDFALL ,but part of normal business.now,the fu*c*king gov. taxes the oil profits,now it becomes a WINDFALL FOR THE GOV. do you morons get it?you win the lotto,that is a windfall.you bust your dumb a*s*s and hit big in your business ,that is not a windfall,that is part of your business.the problem is joe six pack that has no clue and buys into the lib sh*i*t……