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

[Mike Miller <EMAIL:PROTECTED>]

On Fri, 2 Feb 2007, Jerry Gamblin wrote:

> > 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

I'll look at that.


> > 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?

They made me pay.  That wasn't enough?


> > 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!

That's quite possible.  It can get worse.  Check this one out:

http://www.vicefund.com/

They're doing well:

http://finance.yahoo.com/q?s=vicex

Mike

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