Saturday, September 3, 2011
UPDATE
Despite the oil spill and the fiasco of 2008, the prices are up again in 2011, reaching $3.90 per gallon of unleaded. Many companies had a huge profit again basically by price gouging. Will it ever stop?
Monday, February 2, 2009
First Post - Please discuss
We all remember July of 2008 when the price per barrel of oil approached $150 and the price per gallon of unleaded gas passed $4.10. Many proposals came up. Republicans suggested removing the federal gas tax for the summer. Democrats disagreed. They suggested a "windfall profits tax" on oil and gas companies. The Republicans, obviously, hated that. So, should we tax big oil? How should we do it? When?
Here's what I think:
1. Use Kucinich's proposal as a basis. Have a board (bipartisan but any member may not have any connection to oil companies) that determines a "reasonable profit margin." Set-up a plan to tax them based on the R.P.M.
2. Create incentives: self-control, reduced taxes for companies that make a profit below R.P.M.; workers pay and jobs, similar to Obama's plan of $3,000 in tax breaks for each well-paying job that companies create for Americans; and last but not least - philanthropist incentives, giving money away to good causes like education, entertainment, environmentalism, etc.
3. When? It should be based on profits at certain times of the year. Winter - low tax; Summer - higher tax
4. Oil companies in trouble: If the oil companies need a bailout, the money will be given in several ten-thousand-dollar sums and remain accountable for that money.
It is important to keep oil companies under control - no one wants a repeat of last summer. not to mention that people do need cars and do need oil and gas. A demand curve (a graph showing consumer demand vs. price) will reflect this by staying above the x-axis (price).
What are your thoughts on this issue?
Here's what I think:
1. Use Kucinich's proposal as a basis. Have a board (bipartisan but any member may not have any connection to oil companies) that determines a "reasonable profit margin." Set-up a plan to tax them based on the R.P.M.
2. Create incentives: self-control, reduced taxes for companies that make a profit below R.P.M.; workers pay and jobs, similar to Obama's plan of $3,000 in tax breaks for each well-paying job that companies create for Americans; and last but not least - philanthropist incentives, giving money away to good causes like education, entertainment, environmentalism, etc.
3. When? It should be based on profits at certain times of the year. Winter - low tax; Summer - higher tax
4. Oil companies in trouble: If the oil companies need a bailout, the money will be given in several ten-thousand-dollar sums and remain accountable for that money.
It is important to keep oil companies under control - no one wants a repeat of last summer. not to mention that people do need cars and do need oil and gas. A demand curve (a graph showing consumer demand vs. price) will reflect this by staying above the x-axis (price).
What are your thoughts on this issue?
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