Comments on: Obama Hood: Taxing Big Oil to Give Americans Another Stimulus Check

By: Mary

Mary — Thu, 29 Jan 2009 06:49:49 +0000

I think the stimulus plan, totally an astronomical amount of money and giving tax payers, what???? — a one thousand dollar check to pay for their heating bill? I think that makes any republican 'trickle down' economic policy look like child's play. I think this is government becoming the big sponge, scooping up all the free money out there and leaving individuals barely enough to scrap by on. Governemt becomes the main player in the game and we are just the wallet…How this is going to work is beyond any common sense….

By: Dancing with the Environment: Will Obama Take the Lead to Act Quickly on Climate Change? : Red, Green, and Blue

Thu, 13 Nov 2008 07:51:45 +0000

[...] climate bill. Not only will Obama create 5 million new jobs in a green economy, he has pledged to give Americans a $500 rebate check funded by a windfall profits taxes on big oil companies. He even plans to put 1 million plug-in-electric hybrid vehicles on the road by 2015 by giving $4 [...]

By: Beth

Beth — Tue, 30 Sep 2008 15:12:20 +0000

I'm just wondering if Mr. Obama has thought about what those big oil companies will do in order to make back the money he proposes be collected in the form of taxes? Past experience would indicate that they would merely raise prices even higher to offset their tax loss. While I agree that it doesn't make sense that oil profits have seemed to increase almost exponentially over the last few years while the public is told the cost of gas and byproducts is determined strictly by supply and demand, I just can't see how raising taxes will ever benefit the average citizen.

By: Rod Adams

Rod Adams — Tue, 09 Sep 2008 01:02:24 +0000

Here is an interesting factoid from ExxonMobil's 2007 annual report.

Their revenue was $390 Billion, their income tax was $29 Billion. The ratio of income tax to revenue is thus 1:13.4.

My family's ratio of income tax to revenue was nearly two times higher than that. (about 1:7)

By: Rod Adams

Rod Adams — Tue, 09 Sep 2008 00:58:19 +0000

I like the idea of having oil companies share their profits with the rest of us, but I do not see it as a tax.

As the oil companies have worked hard to tell us through many advertising venues, we are their partners. We own their stock and we own many of the resources that they extract from the earth since they are largely on public land. We also provide the service of protecting their safe passage on the ocean when they are brining their products from foreign lands and the service of protecting their supply points like off-shore platforms in the Gulf and off the coast of Nigeria.

As a partner in the endeavor, I feel cheated. Many oil companies are paying only 10-15% of their post tax profits out in dividends, and their royalty payments for extracting resources from publicly owned property are often set at levels that indicate that our representatives at the table were very poor negotiators.

I kind of like Alaska's system where the residents of the state have apparently negotiated a better partnership with the extraction companies.

When oil prices increase, we should all benefit since we all own a share of the oil that is being pulled from under the ground and many of us – through our pension plans and mutual funds – own portions of the energy companies. We just need to shift the paradigm and negotiate a better share of the profits.

By: sally

sally — Fri, 05 Sep 2008 08:51:03 +0000

I spent mine on bills and bought some things I'd been putting off due to higher prices at the pump and grocery store.

I think that's what the vast majority of Americans would do as well, considering how many foreclosure notices are going out every month.

By: robin hood supporter

robin hood supporter — Tue, 02 Sep 2008 22:44:41 +0000

sounds like you are a lawyer or doctor or dare i say oilman. at some point we have to penalize the big oil companies for gouging the american public or any other country for that matter. hey i have an idea why don't we just give the big oil companies a $10 billion dollar a year more tax break. oh wait that's right mccain already wants to do that. i know maybe i should sign my check right over to the oil companies and let them decide what i should eat and where i should sleep too. our economy is in shambles and you think we should see if 4 more years of the same will help. YOU ARE AN IDIOT. you want to know what i did with my stimulus check? i put it my gas tank and spent it at the local grocery store. i got about $4 dollars in hourly raises about 2 years ago and it is like i am making what i made before the raises. grow up rich guys and see that the poor man is struggling. we need to start with taxing the rich, removing illegal immigrants (about ten thousand at a time), legalize marijuana and tax the hell out of it (no i do not smoke) and last but not least: get the republican rich guys out of office. i could go on and on but it is late and obviously you are rich so i am wasting my time. oh just one more thing. good luck (rich guy)if obama does not get elected trying to get your employees to work with no possible way to get there as they will not be able to afford a car much less gas.

By: politikly.com | politics and world news

politikly.com | politics and world news — Thu, 28 Aug 2008 11:22:35 +0000

Obama Hood: Taxing Big Oil to Give to America | politikly.com…

\r\nIn a move reminiscent of Robin Hood, Obama would take from rich oil companies and give to the Am…

By: Crusty the Cabbage

Crusty the Cabbage — Wed, 27 Aug 2008 09:42:19 +0000

"Taking from" Gas companies will only increase the price of gas. Why is that not clear to you guys? You're an idiot if you think it won't. The solution is to provide incentives to build our cities in manners that do not REQUIRE cars, then people can get off gas, and cars, on their own and the gas companies will have to change their tune.

Robin Hood? You've got to be kidding me.