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Re: Republican Lawmakers don't care about you
Old 06-11-2008, 08:50 AM   #5
Professor S
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Default Re: Republican Lawmakers don't care about you

Based on the article that was written, I'd have to agree that tax breaks for alternative energy should have continued, and I believe, expanded on... but thats based on the article that was written, dripping with bias. What was with the mention of Meals on Wheels? It has nothing to due with the story they were telling, except to pull at the heart strings. Also, there is no entity known as "Big Oil", no matter how much they capilize the fake name.

I'm glad people can concede that a windfall profits tax would be a complete disaster. Trying to legislate a global commodity with national law makes absoluely no sense and its simly pandering and a continuation of class warfare. The truth is that Exxons executives own less than 1% of the company and over 50% is owned by retirement funds and pension plans. In hurting their profits we hurt ourselves.

Plus, such a tax shows a complete misunderstanding of how oil companies make money. Oil is a volatile commodity, and like any company that deals in volatile commodities, they base their profits on a fixed profit margin and I believe Exxon's is between 8-10%. The money that Exxon is making is based on increased demand and sales volume, not gouging.

I will agree that we need to eliminate tax breaks for oil companies, but not because of their profits, but because those breaks are intended to spur research and development... and our congress won't allow them to do so. They are essentially banned from drilling in the continental shelf or pretty much anywhere in the US due to governmental restrictions. This is absurd and self-destructive, but a reality, and if they can'r R&D then they don't need the breaks.

As for tax breaks for alternative energy, I'm all for it, but I'd like to see a little more analysis of the bill that the republicans blocked. Something tells me there were a few earmarks and riders attached to that bill that caused it's rejection, because otherwise it makes no sense politically for them to vote against it. If there are no riders, well I'll unregister as a republican and return as a conservative independent (I was planning on doing so after this election anyway).

And calm down about the planet destruction thing. I agree that we need to be better conservationists, such hysteria only alienates people from the message.
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