05-31-2008, 08:10 PM
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Re: Oil drops below $129 a barrel on demand
Quote:
Originally Posted by Michael1
Well, I suppose you're right because if oil companies earn about 1% more profit than the average company some politician will surely come along and confiscate those 'excess profits'. Oh wait, that already happened.
So to your point, I'm not at which stop along the way to market excess profits will be taken, but I'm sure the government will find a way to tax those profits so that the American public continues to get screwed.
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I tried looking up just exactly how much the gasoline is taxed and for what purpose. And I'd like to know what the oil companies themselves are taxed. Maybe I looked in the wrong places, but I came up with very biased statistics one way or another. I'd like to see an official report of just the percentage of tax.
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