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vintage_gonzo
Stranger

Registered: 04/08/06
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What a double talker
#5567338 - 04/28/06 03:57 PM (17 years, 9 months ago) |
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Bush is a fucking jackass.
http://www.breitbart.com/news/2006/04/28/D8H93T10B.html
Bush Rejects Tax on Oil Companies' Profits Apr 28 12:10 PM US/Eastern Email this story
By JENNIFER LOVEN Associated Press Writer
WASHINGTON
President Bush on Friday rejected calls in Congress for a tax on oil company profits, saying the industry should reinvest its recent windfalls in finding and producing more energy.
"The temptation in Washington is to tax everything," Bush said in an exchange with reporters in the White House Rose Garden. Rather than for the government to reap the benefit from oil company profits driven by the recent surge in global oil prices, he said, "The answer is for there to be strong re-investment."
"These oil prices are a wakeup call," Bush said. "We're dependent on oil. We need to get off oil."
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exclusive58
illegal alien

Registered: 04/16/04
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haha, i was just about to make a post about how bush recently said he would probably put a tax on the benefits made by oil companies in order to help out the population with the huge increase of oil's price. I was going to ask, "Do you guys really believe that Bush, with his wordly known ties with big oil companies, is going to put a tax on these incredible benefits?" 
Well, i can't believe i actually believed him for a second...
Just a reminder: last year, like every year, Exxon broke a new benefit record; 35billion dollars of benefit. oh, and the CEO also broke loose from the company with a 400million dollar check in his pocket, just as a thank you note...
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zappaisgod
horrid asshole

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Re: What a double talker [Re: exclusive58]
#5567709 - 04/28/06 05:40 PM (17 years, 9 months ago) |
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What's a "benefit?"
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vintage_gonzo
Stranger

Registered: 04/08/06
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Re: What a double talker [Re: zappaisgod]
#5567754 - 04/28/06 05:54 PM (17 years, 9 months ago) |
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how more blatant can he be? is this not the biggest con that has occured in the presidency ever? anyone who supports this fuck is an ignorant blind redneck.
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Phred
Fred's son


Registered: 10/18/00
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I'm curious. Why does declining to support a new tax make a politician a jackass?
Phred
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vintage_gonzo
Stranger

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Re: What a double talker [Re: Phred]
#5568026 - 04/28/06 07:08 PM (17 years, 9 months ago) |
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phred open your eyes. im so sick of you sticking up for neocon bullshit ideas. maybe your getting too much sun in your little hut in Peurto Rico, but back in the real states its very obvious that the president is in big oils pocket. when that company has just recorded record profits, and oil prices are STILL rising and the president gives a 2 billion dollor tax cut? how can you honestly stick up for that? i understand there might be a shortage of oil but that does not mean that the oil companies should all of a sudden be making so much money. its not the oil supply thats the problem, its the tax gauging, otherwise their profits wouldnt be so high. think about it, yet another example of how neocons are mindless drones.
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vintage_gonzo
Stranger

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i mean oil gouging
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Phred
Fred's son


Registered: 10/18/00
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There's really no point in trying to discuss such elementary economic basic principles as supply and demand and profit margin with people too emotionally invested in irrational hatred of someone who has exactly ZERO control over the price of gas (i.e. Bush) to pay attention. It's like trying to teach a pig to sing -- it accomplishes nothing, frustrates the voice coach, and annoys the pig.
However, for the benefit of the other readers of this thread, I will point out that the profit margins of the oil companies -- roughly 5.7 per cent -- remains unchanged. It also remains lower than the average profit margin of American businesses (roughly 5.9 per cent, for those curious about such things).
I will also point out that increasing the taxes to oil companies would do nothing but raise the price of gas further still. Another basic economic concept so many fail to grasp is that corporations don't pay taxes -- the customers of those corporations do. If the oil companies are hit with another tax, that tax gets passed on instantly to the consumer through higher prices at the pump.
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its not the oil supply thats the problem...
Actually, yes it is.
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... its the tax gauging, otherwise their profits wouldnt be so high.
The oil companies take about 8 cents a gallon as their profit. Government imposed taxes take about 57 cents a gallon. So yes, it is indeed the tax gouging that's the problem. Roughly seven times the "problem" of oil compnay profits. Who is it that imposes taxes, gonzo? (Hint -- it's not the oil companies).
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think about it, yet another example of how neocons are mindless drones.
Pot. Kettle. Black.
Phred
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vintage_gonzo
Stranger

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Re: What a double talker [Re: Phred]
#5568156 - 04/28/06 07:41 PM (17 years, 9 months ago) |
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hmm....did you come up with the 5.7 per cent off of conocophillips website. http://www.conocophillips.com/newsroom/o...company_profits now thats not biased at all, and saddam had WMD's.
Oil Companies Experienced Record $100 Billion in Profits During 2004. According to the New York Times, "Even though the market values of target companies are near their record highs, that is matched by record profits and cash on hand at big oil companies. With crude oil averaging $41 a barrel in 2004, the world's top 10 oil companies made more than $100 billion in profit [in 2004]. The boom is expected to grow this year. Oil futures on the New York Mercantile Exchange set a new record [on April 4], rising above $58 a barrel for the first time." [NYT, 4/5/05] http://www.democrats.org/a/2005/05/record_prices_r.php
so the demand for oil has risen that sharply, or are the companies actually charging more than they say?
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Phred
Fred's son


Registered: 10/18/00
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The figures come from Business Week Magazine, and represent a five year average.
Profit margins of course vary from quarter to quarter and year to year. It wouldn't astonish me to see proof that for some quarters some oil companies might see profit margins approaching 8 per cent. This necessarily means that other quarters would see profit margins around 3.5 per cent. Not all companies can be as tightly run as Wal Mart (which manages year after year to maintain an average profit margin between 3.3 and 3.9 per cent), particularly companies dealing in natural commodities subject to the whims of the despots running OPEC and other hard to plan for fluctuations.
Phred
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gregorio
Too Damn Old


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It's not like the oil companies are not paying any taxes allready.
For the first quarter of 2006 Exxon Mobil paid $7,059,000,000 in taxes on income of $15,459,000,000.
That is a lot of taxes.
http://www.chron.com/disp/story.mpl/conws/3823865.html
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