GOP BLOCKS TAX ON OIL PROFITS. Why did they do this? Do you agree with the GOP or not?

Posted on May 31st, 2011 by admin1 in GOP marketing company

Republicans Block Extra Taxes On Oil Companies

WASHINGTON — Senate Republicans blocked a proposal Tuesday to tax the windfall profits of the largest oil companies, despite pleas by Democratic leaders to use the measure to address America’s anger over $4 a gallon gasoline.

The Democratic energy package would have imposed a tax on any "unreasonable" profits of the five largest U.S. oil companies and given the federal government more power to address oil market speculation that the bill’s supporters argue has added to the crude oil price surge.

http://www.huffingtonpost.com/2008/06/10/republicans-block-extra-t_n_106282.html

The GOP are not in Cogress for Americans

The GOP are in Washington for Japanese & European Corporations

All the Oil Corporations has European connection

21 Comments on “GOP BLOCKS TAX ON OIL PROFITS. Why did they do this? Do you agree with the GOP or not?”

  1. Cecilia M

    http://news.yahoo.com/s/ap/20080610/ap_on_go_co/congress_oil_profits

    You’ll find the GOPs rational in the link I’ve provided. In short, the GOP believes any windfall tax on Big Oil will be passed on to consumers. That sounds right to me. Basic economics at work.References :

  2. Walt

    It is simple economics, the oil companies will pass the tax onto you, plain and simple, you will pay.References :

  3. shawn h

    READ THE ENTIRE BILL. you know you are mis leading people on purpose.References :

  4. Bill H

    Economics 101. Taxes on a corporation are passed on to the consumer in form of higher prices.References :

  5. BDZot

    Yes, I agree with them.

    The bill wasn’t a tax on the oil companies, it was a new tax on us, the people. No oil company is going to absorb an expense like that, they’ll simply pass it on to the consumer.References :

  6. laughing_sprite_99

    which the unreasonable oil companies would have passed onto you at the pump further raising the price of gas. Think Carter administration – the last time they imposed a windfall profits tax. If you are too young to remember that time, research it. That is where Obama’s economic plan wants to take us.References :

  7. black leopard

    no

    but i’m voting for mccainReferences :

  8. Labtec600

    More tax equals less profit.

    Less profit means:

    Increased price.
    Lower bennifits.
    Lay offs.References :

  9. Jules

    Yes, that’s right.References :

  10. Curtis

    How does taxing oil company profits lower the price of a gallon of gas to you?

    Do you think the government is going to give you the money from the tax?

    If you do then I have some carbon credits to sell you.References :

  11. acyberwin

    Jimmy Carter tried this in 1980… It didn’t work… why would it work now?

    And besides, who do you think will fill in the profit gap once the oil companies are faced with higher prices?

    These are publicly traded companies with shareholders and rich CEO’s to pay. Do you think they will just accept lower profits? Do you think the shareholders will just accept less dividends? No way! YOU and I will pay for that!

    Simple economic principal… ALL taxes are paid by individuals.

    The Dems are just exploring new sources of revenue to pay for federal social programs… NOT trying to take care of consumers.References :

  12. Antiliber

    It is 8th grade economics.. do you know what happens when taxes increase on a product? the price is adjustedReferences :

  13. Raleigh Theodore Sakers

    The huffingtonpost.com what a JOKE HAHAHAHAHAHAHAReferences :

  14. Princess Zelda

    I agree with the GOP and most of the answerers above.

    The oil companies are NOT to blame for surging gas prices – they only get about eight cents to the gallon profit, as opposed to Congress, who now gets about 80 cents per gallon. Now Congress wants to tax even more and receive even more. Pathetic.References :

  15. Yin -Yang

    The GOP are not in Cogress for Americans

    The GOP are in Washington for Japanese & European Corporations

    All the Oil Corporations has European connectionReferences :

  16. Brian

    Yes I agree with the Republicans. So now the Democrats want to tax based on America’s anger..References :

  17. Miss Kitty

    I’m not to keen on paying for it! besides why act like American oil companies are the only ones making a profit,,, are the dems gonna tax Saudi or Iran or Venezuela for theirs? The congress needs to help our oil co.s stay competitive not punish them,,, which is all a political rhetoric anyway…I agree with the republicans, they did the right thing.References :

  18. Lisa M

    I’m in total agreement with the GOP on this one. Any taxes will be passed down to us. It’s not as if higher prices are reducing our dependency – if we were talking about a Barbie doll, then it would have an effect. But we NEED oil to function – so we’ll pay whatever we have to. That includes price increases trickling down to us in order to cover their taxes.References :

  19. Questions U R Afraid 2 Ask

    I agree with them on this stance.

    this was an empty genture that Harry Reid knew wouldn’t pass. It was such a ridiculus proposal anyway….as Cecilia stated….

    This is Dirty Politics at its worst….they want to fool the American people by claiming they were trying to do something….knowingly it would not do anything to ease the burdern….and at the same time….no one would know it was a dismal failure….because it would never get signed.References :

  20. RitchWilliams

    Like many liberals and others who do not understand how business works, you think you are ‘punishing’ corporations by taxing them. You are not. You are punishing the consumer who, in reality, pays that tax. Corporations have never, ever paid anything in taxes. ONLY the consumer pays taxes. We either do it personally as individuals or we pay it as a component of the price of goods and services we buy.

    I also think it’s rather humorous that the democrats want to tax ‘unreasonable’ profits. They couldn’t tell the difference between an ‘unreasonable profit’ and the dog poop in my yard. It’s also hypocritical since the bad old oil companies make about 8 cents a gallon in profit while our government makes about 80 cents a gallon in profit. That’s 80 cents a gallon that YOU AND I are paying. The oil companies simply build it into their price and pass it along to the government.

    Your government thanks you for your support, Sucker. (No insult intended. Merely a literal descriptive.)References :

  21. MSU69

    Big oil equals Republicans. I think the CEO"s should have to send back their Bush rebate checks do they really need the money? Will they donate it to charity?References :

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