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August 2, 2008

Who Pays Corporate Taxes?

Posted by WhipSawJim at 9:36 am. Filed under: General

I heard the other day that Barack Obama wants to give everyone (well, ‘cept me, ‘cause I make too much money) a $1,000 economic stimulus check. This would be paid for by a windfall profits tax on “big oil”. I think the assumption here is that “big oil” won’t pass the tax right along to the consumer, or perhaps Barack doesn’t want us to think of that. There are gas taxes currently. “Big Oil” can’t pay them without our help. There isn’t someone over there at “big oil” who goes to another job, makes trillions of dollars per year, and pays the corporate taxes for “big oil”. “Big oil” does what every other business entity from big corporations to small businesses do- they increase their prices to pay the tax! So, what we have here is another not-so-well thought out Obama plan to raise the price of gas so he can give some money back to SOME people. Does this sound like a redistribution of wealth to you? It should. Google defines “socialism” as An economic, social and political doctrine which expresses the struggle for the equal distribution of wealth by eliminating private property and the exploitative ruling class. I think Barack Obama is a fine guy. I like his smile, and I think he has a nice sense of humor. He’s kind of a bumbler sometimes, which makes me feel so much better about myself. It also occurs to me that most of the things he wants to do advance a socialist agenda of removing or redistributing private property.

I’d also like an answer to this: When the government (which doesn’t do anything for it) gets $.20 - $.40 per gallon in taxes, and “big oil” (who hire the workers, explore for resources, and actually produce and sell gasoline) also gets around $.40/gallon in profits, why is it legitimate for government to get their money, but a “windfall” worthy of being taken back by the government (who’d already received $.40/gallon they didn’t earn) when “big oil” gets the same amount?

I’d encourage everyone to look deeper. Some silly stuff really is just silly

May God continue to bless America even though some of the folks who would be our leaders aren’t very smart.
WhipSawJim


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