Not having a tax increase will not lower the prices, but the thought of using a tax increase as a punishment to a company, thus causing them to lower prices, is logic that can only be obtained by abuse of illegal substances

Exxon is the Largest company in the entire planet, in terms of Revenue and Profits.

They only control 8% of the World Wide Oil supply.

How do you punish a company for something they have no control over?

The people who have the biggest control over prices, is OPEC and the U.S. Government, mostly because if Speculators see them raising production, they dump Oil, if they see them cutting production, they Increase their holdings, (assuming supply is tight). While OPEC has increased production by about 30% or so over the past 30 years, the U.S. has decreased production by more than 25%, while at the same time increasing demand by over 20%.

In essence, the only entity that deserves to be "Punished" is the U.S. Government.

I propose No taxes for a year as punishment.

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I thought the idea was not to punish a company, but also not to give excessive profits to a company for something they didn't earn. Since they didn't control the situation that gave them excessive profits, why would they expect to benefit? If it went in the opposite direction, they would be petitioning for relief from the government. I was under the impression that this step is not unique to the US, other countries have changed their tax laws. The company gives their profits to their officers, the government can use the money to fund alternative energy or transportation.

So perhaps this whole argument is apples and oranges. If they pass it, prices for consumers will go up. If they don't pass it, prices for consumers will go up. Shoots down the whole central argument of the article, doesn't it?

Didnt earn? They make an 8% Profit!!!!! Microsoft made a 24% profit last year. Do you want to punish them too? Its a supply and demand market! The more supply to meet the demand the lower the price!

Geez. Be nice to the poor libs. We're already getting too close to being a circlejerk forum.

Anyway in theory it could bring taxes down if the windfall taxes were then immediately applied to something like McCains summer gas tax break thing. The need to stay competitive with each other would prevent them from passing the extra taxes onto the consumer. Still dangerous to the market though.

When has the windfall profits tax ever worked? Good luck!

I'm still waiting for someone to say "yes"

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Many liberals are sterring clear of this arguement!

No They Will Only Raise Fuel Prices.
i would have to think if their profits are cut into with higher taxes,
they will compensate by raising prices.
they're not just gonna accept making less money.

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Of coarse it won't what kind of retard thinks it would? oww the democrats.. i forget..

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The news:
Man who hates taxes flies plane into IRS building.
The opinion:
And they say there are no more heros..