In particular pay attention to part 3 4:40-6:00
We need a president who understands that you don't make citizens prosperous by making Washington richer, and you don't lift an economic downturn by imposing one of the largest tax increases in American history.
Now our opponents tell you not to worry about their tax increases.
They tell you they are not going to tax your family.
No, they're just going to tax "businesses"! So unless you buy something from a "business", like groceries or clothes or gasoline ... or unless you get a paycheck from a big or a small "business", don't worry ... it's not going to affect you.
They say they are not going to take any water out of your side of the bucket, just the "other" side of the bucket! That's their idea of tax reform.
best. fucking. line. ever.
Companies do not pay taxes. What they do is simply add that expense to their overhead costs in determining the final price of the item or service to be sold. If the taxes go up or they are penalised for being successful by the imposition of the so-called "windfall profits tax" (a bullshit excuse for the government to legally say "Give me your wallet"), they simply add those new costs to overhead.
http://www.msnbc.msn.com/id/8646744/
Since January of 2002, the price of crude has tripled, leaving oil producers awash in profits. During that period, the top 10 major public oil companies have sold some $1.5 trillion worth of crude, pocketing profits of more than $125 billion.
I want you to notice something very important that nobody seems to notice when they get furious over the big numbers the "Evil Corporations" are making (kudos to the author for actually noting this)
Sold $1,500,000,000,000
Profit $125,000,000,000
125,000,000,000 / 1,500,000,000,000 = .083333333333 (8.33%)
This quite simply means that 91.66% of the money coming into the corporation is going into overhead. This includes over 25% of that overhead being handed over to the federal government, BEFORE any taxes that added to the cost of the equipment bought by the oil company (since each time money changes hands in return for goods or services, the government gets part of it).
So the government makes 3-5 times what the people actually doing the work makes in profit, and they want more.
What I wanna know is, can I impose a windfall profits tax on the government? I'd settle for .001%. Doesn't seem like a whole lot until you notice the federal revenue for 2008 is $2,521,175,000,000. Do the math, that's $25,211,750.
4 comments:
Awesome blog but you screw it up with the gutter mouth language. Unprofessional.
Trust me, you haven't heard gutter language yet. Mine was merely a point of emphasis (and actually the first use would be considered by many to be a toning down of the original phrase). English has so many misused and unnoticed 'gutter words' its not funny, and most of the more well known ones come from the demonization of natural bodily functions. Unprofessional, maybe. But I'm holding my tongue enough already. I don't need the extra headache of searching for a euphemism or being PC when a simple terse word will do.
Thanks for the comment, and I hope you continue enjoying my blog.
Well. Obama is essentially proposing a roll-back of tax levels to what was in place during the Clinton years, when the country was in the black and lots of people were making money. Is this what you mean by 'raising taxes'? You say one needs basic math to understand this site, but one also needs to understand how language is used either to hide or to reveal the truth.
Lots of people were making money back then because the fiscal policies of the 80s allowed the economy of the 90s to be great. Something as big as the economy isn't like messing with your sink, its more like trying to control a waterfall. It can be done, but there are consequences further upstream, and you often don't see them until the harm is done.
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