I keep hearing and seeing higher and higher gas prices. And now we're hearing about the high profit the oil companies are making. Then we hear how our leaders(Ha!) want to tax(take) those profits from them. Now on to my question.
How will taxing the profits of the oil companies reduce the price of oil?
What is the brilliance behind this move that will put money back into my pocket? Seems to me that taking the money that is used to produce gas is counter productive to lowering prices.
Please Explain!
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Comments: 11
Thanks for stopping by Patty.
There is no reason to increase taxation except to claim they are taking action and use the money to bribe some voters with "alternative fuels" programs like ethanol which is doing such a wonderful job.
Since some oil companies actually get subsidy from the government and get leases on public land, I am not sure why they should be getting rich and we should pay the price.
We are not talking about divesting the oil company and making them a monopoly.
We are looking for fairness, look back at how much tax dollars have gone to this companies for research in new sources of energy over the years...so what are the results?
to talk about this issues you may want to do some research first and follow the money trail. Capitalism works well if people are honest, and we care for the environment so we do not foul our nest.....yet we see corruption on all levels..why?
Because we have too much government involved in business for the wrong reasons.
Now it is time to bring some balance and shift our focus to other areas while improving our economy.