"We can't just plan for the future, we have to help people in the here and now. The choice to me is clear, we need to go after the oil companies [because they are evil]." -Hillary Clinton **Ok, a little editorial license there. "My longer-term plan is to put an excess profits tax on the oil companies above a certain level of profit that would go in to help us make the transition." -Hillary Clinton
Jimmy Carter tried the excess profits tax and all it did was to nearly double the cost of gas at the pump. There ain't no magic.
In 2007 Exxon-Mobile earned a net profit of $40 billion dollars on sales of $360 billion. That's a net profit of 11.3% which is normal for any other business. They paid $29 billion in income taxes. Now Hillary wants to transfer the 18 cent per gallon tax at the pump to the evil oil companies. Any time a corporation pays any tax the cost is transfered to the consumer. That's us. I report,U decide.
| | Posted by alanrph at 2:42 PM - | |
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