Democrats Sheldon Whitehouse & Ro Khanna unveil proposal to tax oil companies' windfall profits as they jack up prices & rake in cash from Ukraine war

[basquebromance]

Oil companies have made billions and used the profits to enrich their own shareholders while average Americans are hurting at the pump. The Big Oil Windfall Profits Tax Act is going to change that. Don't waste time, do it now!

Oil Companies Are Making a Fortune From Soaring Prices. Democrats Want to Take Some of It Back.

ConocoPhillips, Chevron, and other oil companies are paying negative taxes on huge profits. Sheldon Whitehouse, Ro Khanna, and other Democrats in Congress propose a windfall tax to change that.

newrepublic.com

 

[1srelluc]

Well of course they do. The congress critters that went long on defense and oil companies might not agree.

 

[Toddsterpatriot]

Oil companies have made billions and used the profits to enrich their own shareholders while average Americans are hurting at the pump. The Big Oil Windfall Profits Tax Act is going to change that. Don't waste time, do it now!

Oil Companies Are Making a Fortune From Soaring Prices. Democrats Want to Take Some of It Back.

ConocoPhillips, Chevron, and other oil companies are paying negative taxes on huge profits. Sheldon Whitehouse, Ro Khanna, and other Democrats in Congress propose a windfall tax to change that.

newrepublic.com

Tax? Pussies!

Go in there and kill them all and confiscate the oil.

What could go wrong?

 

[Muhammed]

Oil companies have made billions and used the profits to enrich their own shareholders while average Americans are hurting at the pump. The Big Oil Windfall Profits Tax Act is going to change that. Don't waste time, do it now!

All that will do is raise the price of gasoline even more.

It's part of the Democrat war against the poor and middle class. They already made it known that they want $10/gallon gas.

 

[Bob Blaylock]

Oil companies have made billions and used the profits to enrich their own shareholders while average Americans are hurting at the pump. The Big Oil Windfall Profits Tax Act is going to change that. Don't waste time, do it now!

Oil Companies Are Making a Fortune From Soaring Prices. Democrats Want to Take Some of It Back.

ConocoPhillips, Chevron, and other oil companies are paying negative taxes on huge profits. Sheldon Whitehouse, Ro Khanna, and other Democrats in Congress propose a windfall tax to change that.

newrepublic.com

According to some quick Googling that I did just now, the oil companies make about 5¢ of profit per gallon of gasoline.

In California, state and federal taxes on gasoline amount to about $1.81 per gallon.

So, where is the real greed, here?

And if this proposed new tax takes effect, you know damn well that it is the consumers that will be paying it, on top of the $1.81 we're already paying in taxes per gallon.

 

[para bellum]

They know nothing can pass the Senate this year. They need a talking point for the mid-terms, it's "Republicans voted to protect the oil companies who are ripping you off at the pump".

They ran this play in 2008 too.

Republicans are dumb, they should call the bluff. Don't fillibuster the bill, and let the dems pass it on a party-line vote. Then in November, republicans are campaigning on the high gas prices under democrat policies.

But republicans are dumb. They will block it in the Senate, and fall right into the trap.

 

[Rambunctious]

We the people pay any tax hike on any business not the oil company...we do....if those congressmen don't know that they should voluntarily resign today....

 

[Missouri_Mike]

Oil companies have made billions and used the profits to enrich their own shareholders while average Americans are hurting at the pump. The Big Oil Windfall Profits Tax Act is going to change that. Don't waste time, do it now!

Oil Companies Are Making a Fortune From Soaring Prices. Democrats Want to Take Some of It Back.

ConocoPhillips, Chevron, and other oil companies are paying negative taxes on huge profits. Sheldon Whitehouse, Ro Khanna, and other Democrats in Congress propose a windfall tax to change that.

newrepublic.com

When the government makes more from taxing fuel than those the drill it and process it for use. I’m kind of wondering who is getting the windfall here.

 

[Missouri_Mike]

We the people pay any tax hike on any business not the oil company...we do....if those congressmen don't know that they should voluntarily resign today....

They don’t care. When the government is the biggest money maker per gallon of fuel, with no investment at all. They don’t see themselves as the problem. It’s always someone else being greedy. Not them.

 

[basquebromance]

 

[AMart]

Oil companies have made billions and used the profits to enrich their own shareholders while average Americans are hurting at the pump. The Big Oil Windfall Profits Tax Act is going to change that. Don't waste time, do it now!

Oil Companies Are Making a Fortune From Soaring Prices. Democrats Want to Take Some of It Back.

ConocoPhillips, Chevron, and other oil companies are paying negative taxes on huge profits. Sheldon Whitehouse, Ro Khanna, and other Democrats in Congress propose a windfall tax to change that.

newrepublic.com

That makes prices go up. If the Federal, State, and Local governments all suspended their taxes on gas you would see a massive reduction at the pump.

 

[Toddsterpatriot]

He didn't mention the part where the price is also driven by what moron Democrat politicians do.