Economy

KS Toronado

(21,013 posts)

22. I don't see how a windfall profit tax will help us in the midterms

Reply to multigraincracker (Original post)

Wed Jul 6, 2022, 08:57 AM

Jul 2022

Consumers want to see the price of gas go back to a reasonable rate they can afford. Taxing oil companies
would just put money into the government coffers, not the pockets of consumers who are getting ripped off.

Love to see a Democratic Strategist come up with an idea using the emergency powers Presidents are
afforded to stop (or limit) big oil from exporting until the Ukraine/Russia war is over.

Lowering the pump price should help us immensely in the midterms. IMO

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I seem to remember the last time oil was $100/barrel, [View all] multigraincracker Jul 2022 OP

Add the taxes added since then. jimfields33 Jul 2022 #1

I doubt if they are more than a dime more than a few years ago. multigraincracker Jul 2022 #2

Perhaps. But salaries went up. Cost of refining certainly did. jimfields33 Jul 2022 #3

Then why do we see gas at one station 4.48 Beachnutt Jul 2022 #4

3.99 at costco greymattermom Jul 2022 #14

Costco sells at a discount to their members IronLionZion Jul 2022 #16

If no one buys gas at the ones charging a lot more... MichMan Jul 2022 #17

Much depends on hedging, delivery dates, and quantities Bernardo de La Paz Jul 2022 #27

A lot of these stores have a savings card..... Historic NY Jul 2022 #32

Inflation at almost 9%. multigraincracker Jul 2022 #5

A number of companies have actually been reporting a percentage increase in profits cstanleytech Jul 2022 #10

Refining went up since they shuttered refineries kwijybo Jul 2022 #29

Did the taxes go from zero to .62 and zero to .52? I think doc03 Jul 2022 #6

Taxes were already factored in, though moose65 Jul 2022 #15

"Pennsylvania 52 cents a gallon" (nope) BumRushDaShow Jul 2022 #19

Just remember Cherokee100 Jul 2022 #7

Capitalism is not based on supply and demand..... multigraincracker Jul 2022 #8

"It's base on what the market will bear." More like its based on how much cstanleytech Jul 2022 #11

Bingo and pay multigraincracker Jul 2022 #12

What the market will bear is based on supply and demand. Indirection failed. . . . nt Bernardo de La Paz Jul 2022 #30

Only if you or I Maine Abu El Banat Jul 2022 #9

Time to tax the oil companies for their excess profits on congressmembers. lastlib Jul 2022 #13

It sure used to be a lot cheaper filling up your car with crude oil than it is now. MichMan Jul 2022 #18

So you are going to try again BumRushDaShow Jul 2022 #25

Analysis of the price of a manufactured product based solely on raw material costs is simplistic MichMan Jul 2022 #34

True. But also, there's a lag between falling oil price and falling gas price, thesquanderer Jul 2022 #20

Seems like when it goes up, multigraincracker Jul 2022 #21

I don't see how a windfall profit tax will help us in the midterms KS Toronado Jul 2022 #22

This message was self-deleted by its author MichMan Jul 2022 #23

Nationalize all monopolies. multigraincracker Jul 2022 #24

There is no monopoly on oil or gas in the USA. . . . nt Bernardo de La Paz Jul 2022 #28

Utter nonsense, unworkable, a waste of time to propose Bernardo de La Paz Jul 2022 #31

There is no competition when a few large companies multigraincracker Jul 2022 #35

I had posted one such comparison in a different thread BumRushDaShow Jul 2022 #26

As the economy continues to recede, gas prices will drop considerably MichMan Jul 2022 #33

By then Big Oil will be bigger, richer with more political power and multigraincracker Jul 2022 #36

Not if demand plummets like it did in 2020. MichMan Jul 2022 #37

We need to speed up the switch to alternate fuels. multigraincracker Jul 2022 #38