What is Digg?6 Comments
- michl2077, on 08/04/2008, -0/+4I'd also categorize the enormous salaries of some Hollywood actors to fall under "windfall profits". Would love to see how they'd react if we just started taking some of their salaries away because they were making too much for 1 film. The entire "windfall profit tax" idea is ridiculous.
- drmbig25, on 08/04/2008, -0/+3This is just the start...Obama is slick. He'll find a way to tax anybody to support his bloated government agenda. In free enterprise, the play makers earn the profit. So if Exxon is cleaning house, good for them. Instead of taxing them more, why not create incentives for competitors to enter the market and lower the prices?
- dexter411, on 08/04/2008, -0/+3"Take Exxon Mobil, which on Thursday reported the highest quarterly profit ever and is the main target of any 'windfall' tax surcharge. Yet if its profits are at record highs, its tax bills are already at record highs too. Between 2003 and 2007, Exxon paid $64.7 billion in U.S. taxes, exceeding its after-tax U.S. earnings by more than $19 billion. That sounds like a government windfall to us, but perhaps we're missing some Obama-Durbin business subtlety."
So subtlety here. It's just really hard to pander to voters with misplaced frustration with "logic." - zacharytelschow, on 08/04/2008, -0/+3"The oil companies need to know that there is a limit on how much profit they can take in this economy." -- Obamunism '08
- neveroddoreven, on 08/06/2008, -0/+1"In a tax bill on oil earlier this summer, no fewer than 51 Senators voted to impose a 25% windfall tax on a U.S.-based oil company whose profits grew by more than 10% in a single year and wasn't investing enough in "renewable" energy. This suggests that a windfall is defined by profits growing too fast. No one knows where that 10% came from, besides political convenience. But if 10% is the new standard, the tech industry is going to have to rethink its growth arc. So will LG, the electronics company, which saw its profits grow by 505% in 2007. Abbott Laboratories hit 110%."
Sums up Democrat's arbitrary tax policy and lack of economic understanding - wezman2, on 08/04/2008, -1/+2I love how this is not on the front page, yet the 'Republicans block windfall tax bill' or something like that is
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