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State of Obama's Economy


Juror#8

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How's that astrophysical distertation going on the comparisons of the speed of light vs the speed of sound :D

 

I've abandoned my thesis as I fear there are more pressing matters of reaching level 50 all the while trying to maintain a decent social life :lol:

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Sorry to interrupt, another dem economic policy article;

 

Democratic Party economics: The Reasonable Profits Board

 

In a perfect world, wed be talking about this Democratic proposal in tonights CNN debate in South Carolina more than attacking private-equity strategies or discussing the personal lives of the candidates. Yeah, I know … but a man can dream, right?

 

Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a Reasonable Profits Board to control gas profits.

 

The Democrats, worried about higher gas prices, want to set up a board that would apply a windfall profit tax as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.

 

The Gas Price Spike Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100 percent on all surplus earnings exceeding a reasonable profit. It would set up a Reasonable Profits Board made up of three presidential nominees that will serve three-year terms. Unlike other bills setting up advisory boards, the Reasonable Profits Board would not be made up of any nominees from Congress. …

According to the bill, a windfall tax of 50 percent would be applied when the sale of oil or gas leads to a profit of between 100 percent and 102 percent of a reasonable profit. The windfall tax would jump to 75 percent when the profit is between 102 and 105 percent of a reasonable profit, and above that, the windfall tax would be 100 percent. The bill also specifies that the oil-and-gas companies, as the seller, would have to pay this tax.

 

 

First, a reality check is in order. While politicians like to hyperventilate over the gross dollar amounts of profit from oil companies, profit is most accurately measured as a percentage the ratio of profits to the cost of producing those profits. Does the oil industry have a record of exploitive profit margins? Hardly. For 2009, the oil and gas industry ranked 9th on Fortunes list with a margin of 10.2%, exactly half of that of the network/communications industry, which finished first in 2008 as well. In fact, the margin for oil/gas decreased by three and a half points between 2008 and 2009.

 

 

 

 

I agree more with the "add-on" to the article:

 

This is great- now we need a Reasonable Spending Board to monitor our Congress.

 

We need a Reasonable Ethics Board to punish members of Congress who use their office to enrich themselves.

 

A Reasonable Taxation Board to prevent the government from taking too much of our money.

 

 

.My link

Edited by B-Man
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Do you drive a Honda Fit?

 

2003 Pullied Terminator.

 

Just bought a Nissan Titan too.

 

I'm trying to consume as much fossil fuel as I can and subsidize the UAE single-handedly.

 

If you want to join me in that effort, you'll have to sell your Fiat. ;)

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Sorry to interrupt, another dem economic policy article;

 

 

 

 

 

 

I agree more with the "add-on" to the article:

 

This is great- now we need a “Reasonable Spending Board” to monitor our Congress.

 

We need a “Reasonable Ethics Board” to punish members of Congress who use their office to enrich themselves.

 

A “Reasonable Taxation Board” to prevent the government from taking too much of our money.

 

 

.My link

 

Speaking of democrat policy

 

 

http://www.youtube.com/watch?v=OX_NlxkKgKw

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Sorry to interrupt, another dem economic policy article;

 

 

 

 

 

 

I agree more with the "add-on" to the article:

 

This is great- now we need a “Reasonable Spending Board” to monitor our Congress.

 

We need a “Reasonable Ethics Board” to punish members of Congress who use their office to enrich themselves.

 

A “Reasonable Taxation Board” to prevent the government from taking too much of our money.

 

 

.My link

 

I'm all for lowering gas prices. In fact (and despite what Magox says) I think that gas prices don't necessarily match demand and there is a lot of "artificial-ness" and price fixing (at least on a retail level).

 

If an administrative agency said that at 150% profit point, a penalty would be assessed, I'm not sure that I'd disagree.

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