Posted on 10/31/2022 10:12:11 AM PDT by SeekAndFind
President Joe Biden on Monday will raise the possibility of imposing a ‘windfall tax’ on energy companies, as his administration aims to combat high gas prices just days before the midterm elections.
The White House said Biden will deliver remarks to respond ”to reports over recent days of major oil companies making record-setting profits even as they refuse to help lower prices at the pump for the American people." A person familiar with the matter said Biden will float imposing a tax on the profits of energy companies, as he seeks to pressure them to lower prices for consumers. The person spoke on the condition of anonymity to preview Biden's remarks.
“Oil companies made billions in profits this quarter,” Biden tweeted on Saturday. “They’re using these record profits to pay out their wealthy shareholders instead of investing in production and lowering costs for Americans. It’s unacceptable. It’s time for these companies to bring down prices at the pump."
High prices at the pump have exacerbated inflation and have taken a toll on Biden and Democrats' standing among voters.
Congress would have to approve any additional taxes on the energy producers — which would be a tall order in the current Congress where Democrats have narrow control of the House and Senate, and even less likely should Republicans retake one or both chambers on Nov. 8.
(Excerpt) Read more at msn.com ...
HOW about windfall profits on Pharma companies???
IF it really costs only $1.18 to make each dose of Pfizer vaxxes & boosters, their plans for charging people $130 PER DOSE as of Jan 2023 is an 11,017% markup.
DO THE MATH
The Feds have been paying $30 a dose-—which is a 2500% markup.
THOSE ARE WINDFALL PROFITS——
HIGHEST paid fed employee (FAUCI) creates a deadly virus-—unleashes it on the world-—all governments get conned into mandating vaxxes & boosters—and now the Pharma companies will have a 11,017% MARK UP????
How come all these high ranking medical persons refuse to release the info on THEIR profits from such ‘investments’ ?
HOW about windfall profits on Pharma companies???
IF it really costs only $1.18 to make each dose of Pfizer vaxxes & boosters, their plans for charging people $130 PER DOSE as of Jan 2023 is an 11,017% markup.
DO THE MATH
The Feds have been paying $30 a dose-—which is a 2500% markup.
THOSE ARE WINDFALL PROFITS——
HIGHEST paid fed employee (FAUCI) creates a deadly virus-—unleashes it on the world-—all governments get conned into mandating vaxxes & boosters—and now the Pharma companies will have a 11,017% MARK UP????
How come all these high ranking medical persons refuse to release the info on THEIR profits from such ‘investments’ ?
HOW about windfall profits on Pharma companies???
IF it really costs only $1.18 to make each dose of Pfizer vaxxes & boosters, their plans for charging people $130 PER DOSE as of Jan 2023 is an 11,017% markup.
DO THE MATH
The Feds have been paying $30 a dose-—which is a 2500% markup.
THOSE ARE WINDFALL PROFITS——
HIGHEST paid fed employee (FAUCI) creates a deadly virus-—unleashes it on the world-—all governments get conned into mandating vaxxes & boosters—and now the Pharma companies will have a 11,017% MARK UP????
How come all these high ranking medical persons refuse to release the info on THEIR profits from such ‘investments’ ?
‘insane promises’
You mean like the promise that “student loan reduction checks will be in the mail this coming Friday’???
He is one very UNATTRACTIVE person.
Biden’s making Mr. Thompson appear more intelligent with each passing day. Ron Klain is a poor Floyd Ferris, too.
Excellent.
The U.S. economy isn’t totally destroyed yet.
It’ll never pass. Windfall profit taxes are one of those stupid ideas from the Carter years that have been proven to fail every time they’re tried. This is just a pre-election tactic to try to motivate the Dems low IQ welfare class base who hears “more tax” and think their welfare check will increase if it gets passed.
I have NO IDEA how that posted 3 times-——:(
He is one very UNATTRACTIVE person.
did you factor in the cost of research before computing the profits?
“ They will only drill new wells to replace wells that are no longer producing economically.”
Given that the President can shut down any project (e.g. Pipeline, Refinery, Oil Field, etc) with the stroke of a pen, WHY should the energy companies invest Billions to create new sources of energy?
And how much energy would these oil companies produce if they were losing billions of dollars every quarter?
I don’t recall anyone calling for a windfall subsidy for oil and gas producers when they were losing billions in 2020.
The nature of the oil industry is that it is cyclical, very good years and very bad years. If they are lucky, the good years offset the bad.
I don’t think you will find a single large oil company that has performed better than the S&P 500 average over the past five, ten or twenty years.
Shut it down.
Shut it all down.
Hard.
When has Brandon ever let a little thing like the Constitution prevent his handlers from doing whatever they want?
Opening up the borders and allowing illegal aliens to get work permits in violation of federal law? No problem. Unilaterally "cancelling" billions in student loan debt? Hold my beer and watch this.
All we need now is the Rabbit.
That didn’t go well.
Remember sending BOXES of forms for Windfall profit tax and waiting for the refunds... which DID arrive.
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