Ohio Democrat proposes 100% tax

[Buckeye_Nut]

http://www.businessandmedia.org/articles/2006/20060728145604.aspx

Oh my God!! Being an ohio guy, I always knew Kucinich is a complete fruitcake, but this takes the cake!! And he said it on national TV no less!!!!!!!!!!

Ya gotta hand it to the socialist party(democrats). I cant see how they will win back the majority if they continue to chant socialist rhetoric on national tv.

My only response is.... Wow!! It's amazing how any democrats ever get themselves elected. Apparently, the american voter is very uninformed. If they werent, no democrat would ever win another election.
(even in very blue areas like Clevelend, from where this fruit originated)

 

[Rock&Roll Ninja]

1. Thank you Ohio. I don't know how or why you elected him, but thanks for keeping him away from here.

2. Oil companies are making a hundred-bajillion dollars a year profit and people are "struggling to pay at the pump"; why exactly should they be punished with extra tax? seems like good supply & demand to me.

3. If you purchased a gasoline powered anything after 1973 you are not allowed to complain about the price of fuel. You knew damn well its only going to get more expensive, and supply interuptions do happen. I will not shed any tears because you simply had to have the Hummer H2 instead of the VW Golf, nobody forced you to buy a car of any kind, let alone one that gets 9mpg. Grow up, stop crying that you're a sucker, and let me get back to my $4 coffee, $6 cigarettes, and $250/hr escort.

4. We still pay alot less than England. Hurray for USA!

 

[zildjian]

First of all, I don't agree with the 100% tax. It's crazy yes. On the other hand, it's not any more crazy than people not batting an eye while the current administration helps companies like Exxon make RECORD PROFITS while gas prices skyrocket, which is just screwing over everybody to line the pockets of the oil industry. I can understand some loyalty to the oil industry from sparky jr. as they supported his campaign with some of its biggest if not the biggest $$$ contributions, but it's too much to sqeeze everybody financially like this with the gas prices.

How can Exxon make record profits if there isn't pure mark up on it's oil/gas now? We don't need to hear shortage/supply vs demand arguments either since no where in our country are gas stations running out of gas. That's what happened in the 1970's, and clearly that was different than what is happening today, so supply vs demand... BS. Is there a limited supply, sure, but that's not what is dictating the gas prices today. If it wasn't for its oil, we probably wouldn't have forces in the middle east at all. Hurry up and save us H20 --> hydrogen cars developers!!!!

It's amazing how any democrats ever get themselves elected. Apparently, the american voter is very uninformed. If they werent, no democrat would ever win another election.

Strangely enough, the exact same statement applies to the Republican party. See points made above. Side note: I'm not anti-Republican, I'm a registered Republican who did not vote for Bush in 2004. The current administration has it's priorities way out of line, and I don't see how anyone can be educated and support what they've done. Again, the middle ground is where everyone needs to be/meet/work at, otherwise the policies are working at one of the two ends of the polical spectrum which does not serve the people of the country justly.

Ok, back to the audio forums...

 

[highfihoney]

http://www.businessandmedia.org/articles/2006/20060728145604.aspx

Oh my God!! Being an ohio guy, I always knew Kucinich is a complete fruitcake, but this takes the cake!! And he said it on national TV no less!!!!!!!!!!

Ya gotta hand it to the socialist party(democrats). I cant see how they will win back the majority if they continue to chant socialist rhetoric on national tv.

My only response is.... Wow!! It's amazing how any democrats ever get themselves elected. Apparently, the american voter is very uninformed. If they werent, no democrat would ever win another election.
(even in very blue areas like Clevelend, from where this fruit originated)

Morons like that elected fool wonder why consumers hide income,lie to the irs & cheat the tax man.

 

[Tomorrow]

Hmmm. One could always invest in Exxon stock and use the dividends to pay for the gas price increases.

 

[Buckeye_Nut]

For all of you Democrats whining about big oil squeezing the little guy at the pump, be aware that your own party doesnt care about the working man or their pain and suffering at the gas pump.

Elected Democrats are currently lobbying and striving to be more like Europe along with their $7/gallon gas prices. Ya see, the socialist party(democrats) dont think we are paying enough at the pump, and they wish to pass punitive usage taxes to raise the prices even higher!!! Why do you think much of europe pays $6-7/gallon?? It's because they are socialist countries who allow taxation without representation!!!
(translation: punitive SOCIALIST gas taxes)

If they werent a bunch of tax happy lefties, their gas prices would be no different than our own. Except maybe for the islands(GB). They will always pay a premium because of their location, but it would be nowhere near their current prices!! Hell, what are gas prices in Hawaii?? I'll guarantee it's nowhere near what they pay in GB!!!

 

[Buckeye_Nut]

Morons like that elected fool wonder why consumers hide income,lie to the irs & cheat the tax man.

Yep, it's amazing how the economy expands, jobs are created, & tax revenues increase after tax cuts are passed

 

[craigsub]

First of all, I don't agree with the 100% tax. It's crazy yes. On the other hand, it's not any more crazy than people not batting an eye while the current administration helps companies like Exxon make RECORD PROFITS while gas prices skyrocket, which is just screwing over everybody to line the pockets of the oil industry. I can understand some loyalty to the oil industry from sparky jr. as they supported his campaign with some of its biggest if not the biggest $$$ contributions, but it's too much to sqeeze everybody financially like this with the gas prices.

How can Exxon make record profits if there isn't pure mark up on it's oil/gas now? We don't need to hear shortage/supply vs demand arguments either since no where in our country are gas stations running out of gas. That's what happened in the 1970's, and clearly that was different than what is happening today, so supply vs demand... BS. Is there a limited supply, sure, but that's not what is dictating the gas prices today. If it wasn't for its oil, we probably wouldn't have forces in the middle east at all. Hurry up and save us H20 --> hydrogen cars developers!!!!



Strangely enough, the exact same statement applies to the Republican party. See points made above. Side note: I'm not anti-Republican, I'm a registered Republican who did not vote for Bush in 2004. The current administration has it's priorities way out of line, and I don't see how anyone can be educated and support what they've done. Again, the middle ground is where everyone needs to be/meet/work at, otherwise the policies are working at one of the two ends of the polical spectrum which does not serve the people of the country justly.

Ok, back to the audio forums...

This is living proof that economics education is woefully lacking.

Oil is a commodity. It sells for whatever the highest bidder will pay. Blaming Exxon for high oil prices is like blaming the auctioneer because a Picasso sells for $1 million.

Blaming Bush for this is not only incorrect, it is partisan politics of the worst kind. Oil reached $39 per barrel in 1980, the last year Jimmy Carter was in office. Adjusted for inflation, that is about $92 per barrel today.

A president cannot control oil prices.

Supply and demand control oil prices. You want cheaper oil ? Simple ... Find more and use less.

 

[zildjian]

This is living proof that economics education is woefully lacking.

Oil is a commodity. It sells for whatever the highest bidder will pay. Blaming Exxon for high oil prices is like blaming the auctioneer because a Picasso sells for $1 million.

Blaming Bush for this is not only incorrect, it is partisan politics of the worst kind. Oil reached $39 per barrel in 1980, the last year Jimmy Carter was in office. Adjusted for inflation, that is about $92 per barrel today.

A president cannot control oil prices.

Supply and demand control oil prices. You want cheaper oil ? Simple ... Find more and use less.

Thanks but I'm not lacking in any education craigsub. Price gouging in the form of gasoline prices from the major oil companies (ie Exxon) is a point that has been brought up numerous times before legistation in DC over the last year. It keeps being an issue that is "being looked into" by the administration responsible for doing so. If you haven't heard about this, then you've been under a rock. It's been on CNN, msNBC, and The Times. This is what I was referring to, and that was pretty clear. If I'm lacking in education for stating the same concerns, then all the major news organizations are lumped into the stupidity with me as they reported on it.

 

[craigsub]

Thanks but I'm not lacking in any education craigsub. Price gouging in the form of gasoline prices from the major oil companies (ie Exxon) is a point that has been brought up numerous times before legistation in DC over the last year. It keeps being an issue that is "being looked into" by the administration responsible for doing so. If you haven't heard about this, then you've been under a rock. It's been on CNN, msNBC, and The Times. This is what I was referring to, and that was pretty clear. If I'm lacking in education for stating the same concerns, then all the major news organizations are lumped into the stupidity with me as they reported on it.

The price gouging that occured was at some isolated gas stations in the south last year. That is what the administration was "looking into". These gas stations are independent operators, and not controlled by Exxon.

The administration is not "looking into" oil prices because there is nothing they can do about something which trades in an open commodity market.

If you don't understand how commodities function, then, in fact, you are lacking in education in this arena.

This does not make you a bad person, but you should learn the facts.

Gold in another commodity, as it wheat, pork bellies ... etc ... and commodites trade strictly in the free market.

 

[craigsub]

Perhaps this will make people feel better ....

For the second quarter of 2006, the basic numbers for Exxon ...

Total sales ......................... $99.034 Billion
Taxes paid ......................... $27.088 Billion
Net Profit ........................... $10.360 Billion

 

[zildjian]

The price gouging that occured was at some isolated gas stations in the south last year. That is what the administration was "looking into". These gas stations are independent operators, and not controlled by Exxon.

The administration is not "looking into" oil prices because there is nothing they can do about something which trades in an open commodity market.

If you don't understand how commodities function, then, in fact, you are lacking in education in this arena.

This does not make you a bad person, but you should learn the facts.

Gold in another commodity, as it wheat, pork bellies ... etc ... and commodites trade strictly in the free market.

I know how the commodities trade functions, and I too agree people need to know the facts of such. You're thinking of the FTC's investigation into post-Katina gas gouging in the south. I know that is not Exxon's or any oil companies doings; those were isolated indivuals marking up prices at their own stations. That is not what I was talking about. The major oil companies have indeed been under federal investigation since the record profits began to be posted in 2005. Exxon Mobil, BP/Amoco, Phillips Tosco Corp, Marathon Ashland, and Citgo have all been questioned. For instance, representatives from each company were all asked to come to Capital Hill near the end of 2005 to explain their price increases as they didn't match with oil barrel increases. More has been done of course, but I can't remember off the top of my head, but for what it's worth, federal investigations into oil companies are very real, so if it's worth their time & energy D pun intended...) to be suspicious of the oil company's record profits, then my initial thoughts here weren't too uneducated as a enough officials on Capitol Hill share the same concern.

 

[zildjian]

Supply and demand control oil prices.

I agree 100% with this statement, but there may be more than supply & demand in the case of gas prices, and that's the point of my post and the point of the investigations I mentioned.

And yes, it is nice to know how much in taxes was paid on all those oil profits!!! My sedan gets pretty good MPG (no SUV here), but I still don't like the $60+ to fill it up.

 

[craigsub]

There are three distinct branches of the federal government. Capital Hill is the legislative branch, not the administration, and what you saw here was grandstanding by pompous jackasses. These same guys are also looking into the steroid scandal in baseball. Barry "I weighed 180 pounds at age 34 with 14 inch arms and weighed 225 pounds at age at age 38 with 19 inch arms" Bonds is still playing.

The boys club that is the Senate knows better than to suggest the oil market is controllable. However, it is an election year.

It is still a fact that oil companies don't set the prices, and that "sparky, jr", has no more control over prices than you do.

By the way, if you want to be taken seriously as a non-partisan individual, a good first step is not calling a president "sparky".

 

[VS540]

I will NEVER understand people *****ing about gas prices...
1st: Everyone is lucky gas isn't $18 a gallon let alone just $3. Does anyone even realize the amount of work that goes into drilling, pumping, transporting, rendering, refining and testing of crude oil? Then the actual shipping of gas to your local pump?
People pay more per gallon for Pepsi and Coke which is just sugar water!

2nd: If you are one of those people *****ing about high gas prices, you want to know who to blame? Take a look in the mirror. It's YOU the consumer. We live in a free economy that is based on supply and demand. If I had the last 100 gallons of fuel in the world, do you think I'm going to sell it for $1 a gallon? NO! It's going for the highest offer...supply and demand. I have a limited supply and there is a great demand, hence, a huge cost.
Oil companies are doing EXACTLY what this countries economy is based upon. I would care less if they were making 100 zillion dollars let alone 10 billion. Good for them, they are living the American dream. It is ANYTHING but price gouging.

 

[zildjian]

By the way, if you want to be taken seriously as a non-partisan individual, a good first step is not calling a president "sparky".

picked that up from Mulester after I heard him use "sparky jr". Hey, like I said earlier, I voted for the sparky's until 2004. Then this moderate Republican shook his head.

 

[Buckeye_Nut]

JeZus christ....

I pay more for bottled water than I do for GAS!

So who's gouging?

 

[Buckeye_Nut]

Perhaps this will make people feel better ....

For the second quarter of 2006, the basic numbers for Exxon ...

Total sales ......................... $99.034 Billion
Taxes paid ......................... $27.088 Billion
Net Profit ........................... $10.360 Billion

You'll never see any of the anti-capitalist media pundits point out the fact that oil industry profit margins arent excessive. They always blindly harp on the number itself without consideration of scale. Earning 8-10% return isnt excessive in the least.

Oooooooh...... evil big oil & walmart!!

 

[Buckeye_Nut]

Price gouging in the form of gasoline prices from the major oil companies (ie Exxon) is a point that has been brought up numerous times before legistation in DC over the last year. It keeps being an issue that is "being looked into" by the administration responsible for doing so.

Oil companies are under continuous and ongoing investigation, and never once has an oil company been found to be gouging. Keep in mind, all the oil hype in DC is being pushed by Democrats, so it should be taken with a grain of salt.

The democrats dont even want cheap gas. Heck, democrat run Minnesota fined Midwest Oil $140,000 for selling gas too cheap!! Apparently they dont want cheap gas selling in their state.

 

[WmAx]

I must agree with user Buckeye_Nut. People are too focused on the numbers themselves, without looking at it with a rational perspective. A 10 percent net profit is by no means gouging. Blame the cause of the market value increase of crude, if you want to logically blame something. The 40-45 percent [accounting for CPI inflation adjustment] increase of gas cost(compared to 1990) is the result of the market value.

-Chris