Thursday, May 1, 2008

No Basis For those Kind of Profits

Wow... Karl Marx would be proud...

Hillery on O'Riley... (another soft ball thrown). Hillery stated that yes, she believed we should have the Gas Tax Holiday this summer... but that we would pay for it with a Winn-Fall Profit tax on the Oil companies.

In other words, we are still being taxed on Gas... we just might feel like we are getting a Holiday.

She also made the scary point that the Oil companies have no basis for these record profits they are recording... are you kidding? Yet the Federal Government gets a large chunk of the profits... plus they excise more tax at the pump... they make TWICE what the oil companies make on a gallon of gas... Twice! So if Big Oil is setting record profits... the Fed is getting record Tax revenues... right?

The Stupidity... or the Belligerent Stupidity is defining!

If we keep taking the incentive away by taxing the Badjezus out of them... they won't produce as much... or bother finding new sources, or finding better ways to use old sources. And... adding in the "Trickle Down" or Regan model of economics, other industries will be De-incentived... which means less jobs...less pay... Lower GNP... Recession... Depression (and not the kind Prozac takes care of)...

Does anyone remember the Soviet Union? The only reason some of the population performed was either out of fear of the Gulag or Death... or the Black market/Capitalism that was pervasive throughout.

I have met people that grew up during that socialist time... their work ethic sucks. They don't understand going that extra mile to help a customer... or boss.

There are plenty of theories why, but if it didn't matter how hard or not hard they worked, they would be paid the same, get to keep their job, no matter what performance they exhibited...

We see this in the states with the welfare system... just stay home, have babies, don't get married and you can do pretty well.

I found myself yelling a the TV last night... and my wife telling me to shut up, she cant hear.

So get this... with Hillery, I... my wife and I would be looking at 8% to 16% more taxes!

Let's lay this out... So, you make $250,000 a year... you are "Rich", out of that, you are already paying around 30% in taxes, or $75,000! (Ouch! this hurts just thinking about it!) Now, Hillery comes to the rescue... add 8%, or $20,000 more? or 16%... $40,000 or more? Why work so hard when I could make half of that and bring home about 90% of my 1/2 pay? Does this make sense to anyone?

No wonder there was a revolution in 1776...

Something has to stop, or "Change"...

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