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View Full Version : Palin is for windfall profits taxes for oil companies.



Tetragrammaton
09-08-2008, 02:46 PM
http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html

This is disturbing to me.

FinFatale
09-08-2008, 03:11 PM
Gosh it's distrubing to me too since Senator Obama is advocating windfall taxes too.
" Democrat Barack Obama supports a national windfall-profits tax, while Republican John McCain opposes it."
http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html

phinfan3411
09-08-2008, 03:26 PM
I will have to agree with McCain here, and oppose Palin, and Obama. I would think McCain would overide Palin on this one.

Tetragrammaton
09-08-2008, 03:29 PM
Gosh it's distrubing to me too since Senator Obama is advocating windfall taxes too.
" Democrat Barack Obama supports a national windfall-profits tax, while Republican John McCain opposes it."
http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html

I think we all know about Obama's position.


He was against this during the primary when Hillary was for it. I am a bit disappointed in the change.

Raising taxes on oil companies = higher gas prices. They will get their tax back.

LouPhinFan
09-08-2008, 03:37 PM
Yeah, this is a stupid idea. Hopefully McCain will offer his insight to his VP candidate on this one.

Tetragrammaton
09-08-2008, 03:43 PM
Yeah, this is a stupid idea. Hopefully McCain will offer his insight to his VP candidate on this one.

I really don't understand how anyone can be for it. It doesn't take an economics major to see that is just one circular motion. I don't get politicians sometimes.

FinFatale
09-08-2008, 03:56 PM
On Sarah Palin, big oil and "windfall profits"

Thu, 09/04/2008 - 14:15 — Ben "Are Sarah Palin and Barack Obama (http://www.reuters.com/article/topNews/idUSWAT00963020080609) of one mind on the question of taxing the "windfall profits" of oil companies? I've been reading here (http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html) and there (http://hotair.com/archives/2008/08/11/palin-backed-alaskan-windfall-profits-tax/) that Palin pushed such a tax through the Alaska Legislature. If true, the irony would be mighty rich.
Happily, William Dyer, a.ka. Beldar, has done he research -- he's a Texas attorney who's represented oil companies in the past -- and nicely debunks the claim (http://beldar.blogs.com/beldarblog/2008/08/dont-be-misled.html). Bottom line: It's not a windfall tax. Beldar explains:"

and.........http://beldar.blogs.com/beldarblog/2008/08/dont-be-misled.html
I know, I know, it's a blog LOL but...........
now according to the newslink..............windfall tax is calculated..............
How the windfall tax works
The tax is imposed on the net profit earned on each barrel of oil pumped from state lands, after deducting costs for production and transportation.
The tax is set at its highest rate in Prudhoe Bay, where the state takes 25 percent of the net profit of a barrel when its price is at or below $52.
The percentage then escalates as oil prices rise over that benchmark.

so it is ' windfall tax " or not. you decide! I am still deciding..........LOL

LouPhinFan
09-08-2008, 04:15 PM
On Sarah Palin, big oil and "windfall profits"

Thu, 09/04/2008 - 14:15 Ben "Are Sarah Palin and Barack Obama (http://www.reuters.com/article/topNews/idUSWAT00963020080609) of one mind on the question of taxing the "windfall profits" of oil companies? I've been reading here (http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html) and there (http://hotair.com/archives/2008/08/11/palin-backed-alaskan-windfall-profits-tax/) that Palin pushed such a tax through the Alaska Legislature. If true, the irony would be mighty rich.
Happily, William Dyer, a.ka. Beldar, has done he research -- he's a Texas attorney who's represented oil companies in the past -- and nicely debunks the claim (http://beldar.blogs.com/beldarblog/2008/08/dont-be-misled.html). Bottom line: It's not a windfall tax. Beldar explains:"

and.........http://beldar.blogs.com/beldarblog/2008/08/dont-be-misled.html
I know, I know, it's a blog LOL but...........
now according to the newslink..............windfall tax is calculated..............
How the windfall tax works
The tax is imposed on the net profit earned on each barrel of oil pumped from state lands, after deducting costs for production and transportation.
The tax is set at its highest rate in Prudhoe Bay, where the state takes 25 percent of the net profit of a barrel when its price is at or below $52.
The percentage then escalates as oil prices rise over that benchmark.

so it is ' windfall tax " or not. you decide! I am still deciding..........LOL

Winfall tax or not, its still a tax. A tax that would inevitably get passed on to the consumer.

We don't need any new taxes or any tax raises on anyone, regardless of tax bracket. We need smart government spending and someone to cut the pork fat from government budgets.

FinFatale
09-08-2008, 04:17 PM
Winfall tax or not, its still a tax. A tax that would inevitably get passed on to the consumer.

We don't need any new taxes or any tax raises on anyone, regardless of tax bracket. We need smart government spending and someone to cut the pork fat from government budgets.

I totally agree that any tax imposed would be passed on to US the consumer.

Dolphan7
09-08-2008, 05:04 PM
Tax or no tax, I think it is just shortsightedness to base your economic plan on such Taxes.

Ferretsquig
09-08-2008, 05:13 PM
Winfall tax or not, its still a tax. A tax that would inevitably get passed on to the consumer.

So explain to me how these taxes were passed on to the consumer in the mid 90s when oil companies had to hand over more to the federal government in comparison to now.

LouPhinFan
09-08-2008, 05:19 PM
So explain to me how these taxes were passed on to the consumer in the mid 90s when oil companies had to hand over more to the federal government in comparison to now.

There was a windfall tax in the 1990's? :err: