http://www.change.gov

One thing proposed in here which is EXTREMELY STUPID is the Windfall Profit Tax.

Obama still plans to carry this out!

The results:
Raising the price of gas back up,affecting the price of goods and services,nullifying the effect of the rebate.

Charging said taxes to corporations and those over a specific income level..

Folks...if a company is taxed on profit,they pass that tax on to the consumer in the form of higher prices!

Windfall Profit Tax =  EXTREMELY STUPID IDEA!!!!

You think the economy is bad now! Wait till this goes through!!!! It's going to have a spiral effect! Oil Companies and corporations taxed by this will pass it on to YOU in the form of higher prices...MARK MY WORDS!!!! THIS IS A DANGEROUSLY STUPID IDEA!!!!

You do seem a bit beside yourself.  Take a deep breath. I know it may seem so scary to you after the past eight years of prosperity.  The bush administration is leaving the country in the best shape it has ever been.  An increase in the standard of living for everyone, access to quality education, the strength of the dollar overseas, and the job market is just phenomenal!  ::)

*snicker*

I don't see any evidence of a windfall profits tax on the website nor do I see how taxing profits will result in higher prices. CEOs buying their nephews Camrys instead of Cadillacs seems a lot more likely.

i sorta like the idea of a windfall profits tax, but it should be tied to the proper incentives. one of obama's ideas is a tax credit for companies that create jobs in america instead of shipping them overseas, and i think for energy companies, institution of windfall profits tax (and also an increase in capital gains tax) should be tied to tax credits and other incentives for R&D in alternatives and clean technologies. so if you're an oil company and you keep doing business the old-fashioned way, you pay more tax -- mainly because you're creating a burden on those who ARE trying to create alternative energy sources. but energy companies that participate can expect to see a much less onerous tax burden.

see? you tie tax policy to the extent to which the company in question is part of the solution or part of the problem. seems sensible to me, i'm not sure what the problem is. oil companies have been making record profits ever since they started occupying the white house in 2001 (let's face it, the bush administration basically IS an oil company). i think they'll be just fine.

Y'know, I think maybe I am being a bit hard on Dude111.  It occurs to me that he may be a bit young, there is a certain lack of political savvy in his posts, and when I checked his profile his age wasn't listed. 

Tell me, Dude111, are you very young? I would not like to be tromping sarcastically on the head of someone who is just being introduced to the realities of the political arena.

http://www.change.gov

One thing proposed in here which is EXTREMELY STUPID is the Windfall Profit Tax.

Obama still plans to carry this out!

The results:
Raising the price of gas back up,affecting the price of goods and services,nullifying the effect of the rebate.

Charging said taxes to corporations and those over a specific income level..

Folks...if a company is taxed on profit,they pass that tax on to the consumer in the form of higher prices!

Windfall Profit Tax =  EXTREMELY STUPID IDEA!!!!

You think the economy is bad now! Wait till this goes through!!!! It's going to have a spiral effect! Oil Companies and corporations taxed by this will pass it on to YOU in the form of higher prices...MARK MY WORDS!!!! THIS IS A DANGEROUSLY STUPID IDEA!!!!


I'm not a fan of windfall profits taxes either, but I have no problem with taxing rich individuals more.

The best tax policy is actually keeping business taxes low and personal taxes on the rich high.  This way, business owners keep most of their money reinvested in their businesses.

That sounds good in principle, Macphisto, but how do you make sure a rich business owner isn't pumping personal money into a business with no intention of doing anything with it except keeping it away from the government?

That sounds good in principle, Macphisto, but how do you make sure a rich business owner isn't pumping personal money into a business with no intention of doing anything with it except keeping it away from the government?


Well, the general idea is that, if business taxes are low and personal taxes are high, then pocketing the money makes less sense than reinvestment, since reinvestment generally makes a good amount of money in and of itself even with higher taxes.

The overall theme is that reinvestment will make them more money, which they can later pocket more of, but in the meantime, reinvestment often involves hiring more people or at least purchasing more goods or services (which also creates job growth).