OpEdNews » OIl Windfall Tax or Pandering Tax?

Support OEN
With Your
Tax-Deductible Donation

Tags for This Article:

Populum Tag Cloud Control Panel
	Fine tune your search to access content

Articles	Links
Diaries	Products
Events	All

All time
Last 6 mos
Last month
Last week
Last 24 hrs

From:
Month Day Year

To:
Month Day Year

Alphabet Popularity	Count ON Count OFF
This Level	Sub-levels

Tag(s): Congress; Congress; Edwards John; Energy; Hillary Clinton; Kerry John; McCain-John; Money; Obama-Barack; Oil Cost Of $$$; (more...) Oil Demand Supply; Oil Foreign Ownership; Oil Reserves; WINDFALL OIL PROFITS TAX (less...)
Add to My Group

June 11, 2008 at 11:23:41

View Ratings | Rate It

OIl Windfall Tax or Pandering Tax?

by Mike Folkerth Page 1 of 1 page(s)

www.opednews.com

SAVE FAVORITES

VIEW FAVORITES

Good Morning America, your King of Simple News is on the air.

U.S. NEWS: As I watched our Congress argue over whether to take the oil companies money away from them for being too profitable, I can’t help but think about the wealthiest members of Congress. John “I married it” McCain, Hillary “windfall” Clinton, John “Heinz Ketchup” Kerry, John “I sued ‘em for it” Edwards, Barrack “I earned it” Obama, and the list goes on.

If these folks are all so interested in windfall profits, why not set a top figure that American families can make and take the rest away from them? At least those serving in Congress. Let’s say that $100,000 per year is plenty for anyone to live on. That means that Hillary and Bill should return $108,300,000 in windfall profits tax for the past 7 years alone.

John Kerry should convince his wife to return the majority of her $500,000,000 estimated fortune as windfall profits. Cindy McCain should transfer her millions earned in her beer distributorship to the government coffers. Barrack and Michele Obama earned more than $4 million in 2007 and purchased a $1.6 million dollar home, why not give it all back?

Of course, suggesting the above remedy is ridiculous; members of Congress are all hard working diligent honest public servants who deserve every dime they earn and more. It’s the crooks in those oil companies that we’re after. Congress provides us with brilliant leadership and massive taxation, how can we compare that to the scoundrels that have provided us with what has up to now been, the cheapest and most dependable energy on earth?

If we were to compare the vast fortunes held individually by members of Congress to those held by literally millions of Americans who own oil stocks, the oil companies would pale in a per-capita comparison.

I have researched and written the real truth more times than I can recall in my book and subsequent articles…we are running out of oil and dipping into reserves. Some 75% of that oil is not ours, but instead belongs to foreign nations. We have known that this day would come for some 50 years and who told us there would be an energy shortage? Oil company geophysicists. And now it has suddenly become the oil companies fault?

The pandering on both sides of the aisle over a diminishing resource that many in this very Congress have ignored for years…is sickening.

Wake up Middle America, go to the polls and throw ‘em out; lock, stock and barrel.

www.kingofsimple.com

	Contact Author
	Contact Editor
	View Other Articles by Author

Bookmark this page: (what's this?)

(More...)

4 comments

Midwesterner, veteran of VietNam era naval service, I still feel an obligation to defend the Constitution against "all enemies, foreign and domestic."
John Sanchez Jr.Midwesterner, veteran of VietNam era naval service, I still feel an obligation to defend the Constitution against "all enemies, foreign and domestic."

Perhaps,...

but an important, if overlooked part of this bill is to rescind the subsidies being paid to Big Oil by the U. S. taxpayer. That is a very worthy cause.

by John Sanchez Jr. (6 articles, 0 quicklinks, 13 diaries, 1301 comments) on Wednesday, June 11, 2008 at 12:11:20 PM

Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics.

The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, restaurateur, U.S. Navy veteran, heavy equipment operator, taxi cab driver, fishing guide, horse packer and few jobs too embarrassing to mention, writes from experience and plain common sense.

Mike’s humorous systems of “Mikeronomics” ...

to see more of bio, click on member name
Mike FolkerthMike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics.

The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, restaurateur, U.S. Navy veteran, heavy equipment operator, taxi cab driver, fishing guide, horse packer and few jobs too embarrassing to mention, writes from experience and plain common sense.

Mike’s humorous systems of “Mikeronomics” ...

to see more of bio, click on member name

John

As always, good to hear from you. It's my opinion that attempting to throw the baby out with the bathwater is a purposeful tool to assure non-passage of a bill.

The subsidy should have been dealt with as a separate issue, but sandwiching it between taking investors profits and the ability to sue OPEC (give me a break) assured that no action would occur.

After all, most of these good Congresspeople benefit immensely from both contributions and dividends from oil companies in one shape or form.

by Mike Folkerth (120 articles, 0 quicklinks, 2 diaries, 566 comments) on Wednesday, June 11, 2008 at 12:26:34 PM

waldopaper is an insignificant teacher, informed reader and professional writer... living in dominionist crackerland... with two women, one young man, three cats and two dogs... alarmed at a failing state controlled by corporate psychopaths armed with nuclear weapons. There's a light on. Somebody's home.
waldopaperwaldopaper is an insignificant teacher, informed reader and professional writer... living in dominionist crackerland... with two women, one young man, three cats and two dogs... alarmed at a failing state controlled by corporate psychopaths armed with nuclear weapons. There's a light on. Somebody's home.

Of course it's "pandering."

Any real "windfall tax" for the rich fatties can be easiy avoided by using their high-hat tax attorneys and groveling PR firms. The rest of us schmucks think this is all about some kind of "ideology" or "philosophy."

The rich fatties could give less than a shit about any kind of silly-ass "philosophy." Most (not all) of them are "social dominators," which means they'll tell you anything they THINK you want to hear... as long as they keep stuffing the boodle in their pants... and most importantly- YOU don't slow it down.

And the folk presenting an easy path are the ones who bawl, "statist" (whatevethefuck THAT means) because the Neighborhood Association did not approve their vinyl screen door and H&R block was uncomfortble with deducting their Bass Boat and Green Fees as "research and development."

Then it's merely a contest won by those who are the least uncomfortable with contacting theft and murder directly. "Social Dominators" don't need "ideology" as "justification."

It's simply a smokescreen.

by waldopaper (11 articles, 3 quicklinks, 25 diaries, 431 comments) on Wednesday, June 11, 2008 at 6:23:31 PM

waldopepper

What! You mean I can't deduct my bass boat and green fees...after all I was having a meeting regarding business.

The U.S. is in a long slow train wreck that will begin to pick up speed as winter approaches. The tax rebate was supposed to have kept that from happening, but consumer debt and unemployment is far worse than Congress can imagine from their hallowed halls.

Thanks for the comment.

by Mike Folkerth (120 articles, 0 quicklinks, 2 diaries, 566 comments) on Wednesday, June 11, 2008 at 7:00:00 PM