The big oil companies are bragging about all the money they are raking in,Why can't our government get it and give it back to us?
2006-08-08 15:40:54 · 10 answers · asked by bjec22 2 in Politics & Government ➔ Law & Ethics
Bush owns stock in oil wells............ why would he give it back?
2006-08-08 15:44:05 · answer #1 · answered by Ananke402 5 · 0⤊ 0⤋
In the past the government has used a device of a “windfall profits tax.” This is a tax on extraordinary profits.
That said. . . . . .
Be careful of getting what you wish for. Deciding what is “too much profit” is a very subjective decision. If it is done here, why not with some other company? Why not at a lower profit level? If with a company, why not an individual? Obviously individuals own stock in such companies, take away their new profits.
Who makes the decision and where is the line drawn and is the line moveable?
2006-08-08 16:13:15 · answer #2 · answered by Randy 7 · 0⤊ 0⤋
Because in the end the government makes more money off of gas taxes than the oil companies make off of gas. Start looking to reduce government spending, taxes, and the size of the government, and see things start to get a little cheaper.
2006-08-08 18:01:32 · answer #3 · answered by sixfour76 3 · 0⤊ 0⤋
I think its because of bush too (even though I hate to say it). We tried pushing for a cap on oil profits and our commander in chief squashed it like a mosquito. That guy and all his Texan buddies are wiping their a$$ with hundereds why we squeek by with one ply...................There is also another reason they use its called supply and demand. They know we need it so they can charge anything for it. So next time the wind shifts LOOK OUT
2006-08-08 15:49:19 · answer #4 · answered by ? 5 · 0⤊ 0⤋
That would be just a bit extreme, you think?
It is not the role of government in a capitalist system to confiscate the property of corporations on a whim.
The idea would not fly very well.
2006-08-08 15:52:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋
its not bragging, you idiot. these are publicly held companies, and they HAVE to publicize their profits. they also have to pay taxes on these profits, AND the stock holders have to pay taxes on their dividends, so the government DOES get alot of the money
2006-08-08 16:17:47 · answer #6 · answered by iberius 4 · 0⤊ 0⤋
Good question, they brag about how much they making and yet the gas prices continue to rise.
2006-08-08 15:44:41 · answer #7 · answered by Beth 5 · 0⤊ 0⤋
because they are evil. they will keep their feet on our necks as long as we let them. not only that but do you know that they use public money/our taxes to help subsidize their oil exploration projects. insane
2006-08-08 15:46:46 · answer #8 · answered by badrussian1 2 · 0⤊ 0⤋
Because they earned it, and our government isn't Communist, although people like you come pretty close.
2006-08-08 15:46:28 · answer #9 · answered by senior citizen 5 · 0⤊ 0⤋
HA! EXACTLY!
2006-08-08 15:45:54 · answer #10 · answered by ginarene71 5 · 0⤊ 0⤋