$4.15 a Gallon. Thank Goodness for Exxon!

In keeping with telling truths, lets continue:

"Just 1.5% of the stock in the major oil companies is owned by the corporate management of those companies. That leaves about 98.5% of the stock left!
The biggest share of the stock in these oil companies, 29.5%, is owned by mutual funds and 27% share of oil company stocks for you is in pension funds. These are funds for policeman, firemen, teachers and etc.
Individual investors own 23%.
IRAs account for 14% of all outstanding shares in big oil.
The last 5%? They’re listed as “other institutional investors.” Maybe some of these are foreign investors.

15 out of the 16 largest oil and gas companies in the world are owned by governments, the largest being Saudi Arabian Oil Co. with 19.19% of all proven worldwide reserves. ExxonMobil controls less than one percent of worldwide reserves.

So what we learn is that the evil, rich oil companies are actually making money for average workers. We definitely need to punish those filthy, money grubbing corps thereby punishing the middle class workers. When you break down the facts, you would have to be truly ignorant in justifying punishing the people...oops I mean those rotten oil companies.
My child, you know nothing about how a monopoly is controlled. To do so you must understand the subtle difference between "ownership" and "control."

As an example, when the Standard Oil holding company was broken up, Rockefeller on paper owned 25% so some shareholders tried to oust him from the Board. When the vote was in, Rockefeller voted 60% of the proxies!!!! You see, you can't OWN a monopoly, but you can CONTROL one. All he did is switch control from a holding company to a bank.

Now to go through your list of OWNERS. Mutual funds and pensions are not voted by the stockholders but by the managers of the funds, like a bank. Again IRAs are not voted by the owners but by the managers, like a bank. So through the bank loophole in the antitrust law, you can control a monopoly that you don't own.
Get it?

Doesn't matter who controls as the money still goes to the sharekholders, IRA owners and pension funds, ie the middle class. Your response did nothing to refute the facts given.
Let me give you a tip in debating, NEVER start the retort with an insult "(my child)" as it weakens your response as nothing more than a high school rant. I have read your responses before so I really don't expect more from you.
Again, my child, it matters most who votes the stock as far as controlling a monopoly, and you know nothing about who owns the stock the monopolists vote.

The top 10% are not the "MIDDLE CLASS." The top 10% own almost 80% of all the stock. The bottom 90%, i.e. "middle class," have the rest.
 
And exactly WHY, in a capitalist economy, should the tax payers cover the cost of capital purchases. Either the oil industry is a capitalist venture or it's not. You can't have it both ways.

How stupid do you have to be not to understand the meaning of "capital expenditure?"

The government is allowed to tax a businesses income. Income is defined as "revenue minus expenditures." Capital purchases are an expenditure.

How did this country survive for so lone when so many voters are such obvious boneheads?
 
Since the Exxon Valdez incident, Exxon has gotten exactly $10 from me. Twice, I've stopped at their stations to put $5 in the tank to keep from running out, and to get to another station.

Not bad for 20+ years.

I buy Exxon and BP at every possible opportunity simply because I know how much numskulls like you hate it.
 
Again, my child, it matters most who votes the stock as far as controlling a monopoly, and you know nothing about who owns the stock the monopolists vote.

There are no "monopolists" in a capitalist economy. That's communist propaganda.

The top 10% are not the "MIDDLE CLASS." The top 10% own almost 80% of all the stock. The bottom 90%, i.e. "middle class," have the rest.

Most stock is owned by institutional investors. That is, grannies pension fund or your 401K owns the stock. When you attempt to screw over so-called "monopolists" you are only screwing granny or yourself.
 
Again, my child, it matters most who votes the stock as far as controlling a monopoly, and you know nothing about who owns the stock the monopolists vote.

There are no "monopolists" in a capitalist economy. That's communist propaganda.

The top 10% are not the "MIDDLE CLASS." The top 10% own almost 80% of all the stock. The bottom 90%, i.e. "middle class," have the rest.

Most stock is owned by institutional investors. That is, grannies pension fund or your 401K owns the stock. When you attempt to screw over so-called "monopolists" you are only screwing granny or yourself.
Just more proof of the willful ignorance of CON$ even after being exposed to the facts.

The goal of all Capitalists is monopoly, competition reduces profit and Capitalists are out to maximize profit.

dist_usstock_thumb.gif
 
How many of you who work for a salary get to write off the accelerted depreciation of your car as a business expense?

Not many, I suspect.

Why don't you?

Isn't that car a legitimate cost of you going to work?

Those of us who think that our enormously complex system of taxation doesn't have enormous class differences built right into it, are not thinking very deeply about this subject.

You can call it progressive taxation, or you can call it class war, but the differences in treatment between peoples of very different economic circumstance CLEARLY exist regardless of what we call them.
 

New Topics

Forum List

Back
Top