Re: [MLUG - DISCUSSION] [politics] Hilllary - Oil Profits

["Jerry Gamblin" <EMAIL:PROTECTED>]

> My understanding is that windfall profits have always been taxed in
> special ways and the thing that was unusual last year is that congress
> voted not to tax the oil companies.  Why didn't they do it.

If these profits were really windfall profits it would be different.
The market is an open market so calling it a windfall profit tax is
wrong, if you want to call it an excess profit tax that would be
different.

http://en.wikipedia.org/wiki/Windfall_profits_tax
http://en.wikipedia.org/wiki/Excess_profit_tax


> Oil is very special.  It involves all kinds of complex agreements among
> nations and the US government is *very* heavily involved in maintaining
> international relations so that the oil companies can do their business.
> This "maintenance work" includes, but is not limited to, warfare.  It is
> quite alright for the US governmnent to limit oil company profits.

The US Government has worked very hard to make the Higher Education
System in America one of the most respected in the world. Would it be
OK for them to Tax your earnings at a higher rate since you have
profited from that?


> Republicans are supported by energy industry sponsors, so it is no wonder
> that they don't wish to limit corporate profits -- the money is partly
> theirs.  Is that corruption?  Maybe, in a way, but it is not illegal,
> unfortunately.  It is very damaging to our country and to the world.

Have you checked your IRA's and retirement funds? Most retirement
funds are heavily invested in the energy market so you could be
banking your future on the same people who back Republicans!


--
Thanks,

Jerry Gamblin

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