Comments on: GOP Blocks “Extra” Tax on Big Oil

By: Sarah Palin Emails Show Discord Over Oil Tax | taxgirl

Sarah Palin Emails Show Discord Over Oil Tax | taxgirl — Thu, 07 Jul 2011 14:10:24 +0000

[...] tax has been compared to the federal windfall oil profits tax proposed by Democrats in 2008 and criticized by Palin’s running mate, Sen. John McCain (R-AZ). McCain’s economic [...]

By: Sarah Palin Emails Show Discord Over Oil Tax - Kelly Phillips Erb - Taxgirl - Forbes

Wed, 06 Jul 2011 16:54:24 +0000

[...] tax has been compared to the federal windfall oil profits tax proposed by Democrats in 2008 and criticized by Palin’s running mate, Sen. John McCain (R-AZ). McCain’s economic [...]

By: Ask the taxgirl: “Windfall tax” on Retirement

Ask the taxgirl: “Windfall tax” on Retirement — Wed, 09 Jul 2008 14:53:26 +0000

[...] (nor has any other member of Congress). The windfall profits tax that she has endorsed involved the oil companies. There is nothing pending in Congress, nor being kicked around in the media (other than in this [...]

By: Keith

Keith — Sat, 14 Jun 2008 15:06:05 +0000

Just goes to show you that the government doesn’t have a clue as how to solve this problem. That or they really don’t care and are just going through the motions in order to coax the less informed to vote them back into office term after term. What we need is some regular “Joes” in D.C. and not these silver spoon fed lawyers who make our decisions for us. If gas gets to high for them, all they have to do is vote themselves another pay raise. Let’s clean house, Democrats and Republicans, and start from sctatch.

By: John

John — Thu, 12 Jun 2008 19:19:32 +0000

If you think the oil companies are getting tax breaks, you need to go to Exxon Mobil’s annual report and take a look at how much they pay in taxes (including income and special oil-company excise taxes). Last time I looked, the oil companies are paying far more to Uncle Sam than the net income they realize.

By: Matty

Matty — Wed, 11 Jun 2008 16:50:50 +0000

it’s simple – INCREASE taxes at the pump from 20c/gal to $1/gal so that we can rid ourselves as a country off our oil addiction! We are sending $100/person each month to the middle east to support our addiction! It’s economics 101, tax consumers to reduce demand. I just hope our country smartens up and our politicians grow some balls before its too late!

By: Urbie

Urbie — Wed, 11 Jun 2008 01:57:18 +0000

Get rid of the ethanol-subsidy program — this is causing more problems than the price of oil.

The thing about oil/gas is just that the price is right there in your face every day. It’s not that an increase of roughly a third (over the past year) is THAT huge an additional amount you’re having to shell out.

For most of last year, I drove 41 miles to work every day — roughly 400 miles a week, or almost 20 gallons in my Jeep Cherokee (with the 4.0-liter six). At $3.00/gal, that’s 60 bucks a week; at $4.00, it’s $80. How big a deal, really, is an extra 20 bucks a week, for someone with a full-time professional job? It’s not trivial, but it’s not huge, either — I could easily save the money back just by brown-bagging my lunch instead of eating at the cafeteria.

No, it’s just that the oil companies are an easy target, because they always make money when the price of crude goes up (their margin is pretty constant, so if cost of goods sold goes up, so does the bottom line). Everyone hates them, so politicians always go for the quick pander; rail against “windfall profits” (whatever those are) and grandstand. I’m not a Republican, but they’re right on this one.

Urb

By: Miranda

Miranda — Tue, 10 Jun 2008 19:47:58 +0000

I like that there were incentives for developing alternative energy. Too bad that didn’t pass. Honestly, until we move away from oil altogether, this problem will keep popping up. There’s no real solution for the short term, so we should focus on the long term. Instead of spending time and money to open up additional drilling, we should develop renewable energy technology and hybrid technology to a point where it is viable. Especially since the foundation is there. In the amount of time it would take ANWR to become viable, we could develop alternative energy solutions that would drastically reduce our dependence on oil.