Senate conservatives block windfall profits tax.»

[babylonsister]

HOW do they justify this vote with their constituency?


http://thinkprogress.org/2008/06/10/senate-conservatives-block-windfall-profits-tax/

Senate conservatives block windfall profits tax.»

The AP reports that Senate Republicans have blocked a plan to “tax the windfall profits of the largest oil companies. Democrats on Tuesday failed, 51-43, to get the 60 votes needed to overcome a GOP filibuster of the energy package, and bring the bill up for consideration.” Proponents of the legislation “said the huge profits enjoyed by the largest U.S. oil companies should be reined {in} with motorists paying more than $4 a gallon for gasoline and oil prices soaring well beyond $100 a barrel.”

[BlooInBloo]

1. Anybody know how McCain voted?

[babylonsister]

5. Let me guess...he didn't? I'll bet he didn't. nt

[weezy2736]

6. He was not present, same as Obama.

[BlooInBloo]

8. kkthx!

[LSK]

10. McSame will probably miss a lot of these "controversal" votes

[MiniMe]

17. And the big question is, will McCain be present for ANY vote before the election

I would be really upset if I lived in Arizona.

[dysfunctional press]

2. they don't have to justify it with their constituency...

it's either vote for them, or vote for a demoncrat.

[babylonsister]

4. But this goes against everyone's best interests, regardless of party.

Makes no sense to me, but when did they ever?

[spanone]

12. buSh* has so polliticized every facet of government that it will take years to change

i don't think congress cares about 'the people' one whit....except when it comes time to vote for them..then they promise tons of shit they can never deliver on.

[OhioChick]

3. Everyone should send that to

every repub they know.

[Mr. Blonde]

7. I'm curious actually

how does this help things. Wouldn't this just get passed on to the consumer anyway? Or was there some special provision to prevent that? And, if so, how on earth would that provision work?

What is the appropriate amount of money that is appropriate for oil companies to make per gallon? What do they currently make?

[Vincardog]

9. They pay the tax on their profit. How do you pass that along? Do you pass on the tax you pay on

pay on your income

[LSK]

11. uhhh that massive debt problem we have????

[spanone]

13. they are making RECORD PROFITS. on the backs of consumers. who have no choice

if people are starving, is it ok to charge exorbitant prices for food? just the market working.....supply and demand

[Mr. Blonde]

15. Yes they are

my question is though, is that because they have significantly increased what they make per gallon of gasoline or because usage has gone up?

[RB TexLa]

18. They make the same profit, around 10 percent.

[Zavulon]

20. It's 9%.

A smaller profit margin than Microsoft has.

I'm personally glad this got shot down. If that tax goes through, it gets added to the cost of business and then I'm paying $5 a gallon instead of $4. Nobody can seriously assume that the oil companies will just suck up the tax instead of passing it on to us.

[zbdent]

14. How about this ... rescind the tax breaks the oil companies got from the

Republicans? You know, the tax breaks they got after they went, hat in hand and on bended knee, saying that they were hurting, and two weeks before they announced historic profits?

[RB TexLa]

19. That I go for. If the government wants to fund alternative energy research, use a competitive

grant process.

[Canuckistanian]

16. Were'nt the windfall taxes supposed to fund alternate energy sources?

That would have burned their butt.