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Posted by: amazed 1 year, 6 months ago
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amazed1 year, 6 months ago
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now, perhaps if the dems had figured out a way to transfer those windfall profit taxes back to those of us who paid them, it might be helpful. Otherwise, the true effect of a "windfall profit" tax, is to further raise the price fuel.
Corporation NEVER willingly pay the taxes themselves. If at all possible, they get passed along as a cost of doing business. The oil companies have a product with a reasonably inelastic demand, so they can raise their prices with no big repercussions. We still need their oil products nearly regardless of the price.
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lestparker1 year, 6 months ago
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they dont pay taxes at all. All taxes ultimately are paid by the consumer.. Taxes are simply another cost of doing business. BTW, who do the people who support a windfall tax think those profits belong to anyway? In fact they belong to the owners of the corporation.. in short, anyone who has a mutual fund, 401k, retirement plan, pension plan. Teachers, union workers, doctors, lawyers and indian chiefs. Anyone who thought this tax was a good idea is fooling themselves. Government is NOT the answer. never has been and never will be. it is the problem people!
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stephen-johnson1 year, 6 months ago
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"BTW, who do the people who support a windfall tax think those profits belong to anyway? In fact they belong to the owners of the corporation.. in short, anyone who has a mutual fund, 401k, retirement plan, pension plan. Teachers, union workers, doctors, lawyers and indian chiefs. Anyone who thought this tax was a good idea is fooling themselves"
Less than 3% of Exxon stock is held by insiders. The overwhelming majority of shares are owned by the public either directly or, more commonly, indirectly via a mutual fund. Too bad the media doesn't point oil stock oswnership in retirement/savings plans out to the public.
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