They don't make enough already?

McCain's response, Obama said, is to propose a corporate tax plan that would give "$4 billion each year to the oil companies, including $1.2 billion for Exxon Mobil alone" and a gas tax holiday that Obama said would only "pad oil company profits and save you — at best — half a tank of gas" over an entire summer.
http://news.yahoo.com/s/ap/20080731/...r/obama_energy

Talk about the rich get richer.

http://www.voanews.com/english/2008-07-31-voa51.cfm

11.7 billion is not enough.

http://www.iht.com/articles/2008/02/...rnrgoilcos.php

Time to pad the wallets folks. We could use a little more.

http://www.usatoday.com/money/indust...-profits_N.htm

The companies insist they're trying to find new oil that might help bring down gas prices, but the money they spend on exploration is nothing compared with what they spend on stock buybacks and dividends.

http://www.msnbc.msn.com/id/9854784/

The frustration is so great that even top Republicans like Senate Majority Leader Bill Frist, R-Tenn., are demanding answers from Big Oil.

“We need to make sure that there's no abuse in the current system,” he said. “We need to make sure there's full transparency, and if there's any price gouging, we need to cut it out.”

These companies produce oil and refine gasoline — and sell both. They say they made so much money because an increasing demand for oil worldwide sent the price near $70 a barrel and a shortage of gasoline when the hurricanes damaged refineries.

Even the Republicans want transparency.

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ACCEPTANCE IS THE ANSWER!

We will knock on the door, if it does not open, we will revolt for our rights.

Im a Tarte, what! you want some of this?

He is just in time they need more.

__________________
ACCEPTANCE IS THE ANSWER!

We will knock on the door, if it does not open, we will revolt for our rights.

Im a Tarte, what! you want some of this?

The only social responsibility of a corporation is to deliver a profit to its shareholders.

-Milton Friedman

Do you think

When is it enough?

__________________
ACCEPTANCE IS THE ANSWER!

We will knock on the door, if it does not open, we will revolt for our rights.

Im a Tarte, what! you want some of this?

That's up to the market.

Well... for the shareholders... hopefully never.

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I think, before we condemn something like this, we need to know why he wants to give them money. Could it be an investment for research into alt-fuel cars? Could it be investment for drilling for domestic crude?

If someone's already narrow-minded, and has already condemned it, without understanding the entire story, I could see why reading this article could cause concern.

Then again, these are probably the same loons who go on and on about "record profits," without realizing how little profit the oil companies actually get per gallon of gas sold.

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"I should be calling collect from jail for the things I commit each night in my head" - D. Mustaine.

I think they could take a bit from the profits for that.

__________________
ACCEPTANCE IS THE ANSWER!

We will knock on the door, if it does not open, we will revolt for our rights.

Im a Tarte, what! you want some of this?

Don't you know where profits go?????

(See ABNS's post)

And the thread title is absurd, "McCain's tax plan gives 4 billion to oil companies?!??"

The government isn't going to give them anything, it's just going to stop taxing them so much so that the consumers can get a break at the pump.

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"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.

--Murray Rothbard

I'm not sure you fully understand what companies do with profits. 90% of profits are already earmarked. They're earmarked for R&D, profit-sharing (for their employees), growth and expansion, etc.

It's not just "free money" as liberals like to say it is.

__________________
"I should be calling collect from jail for the things I commit each night in my head" - D. Mustaine.