WINDFALL TAX ON OIL : WHAT WILL THAT DO TO GAS PRICES?

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philosophy : WINDFALL TAX ON OIL : WHAT WILL THAT DO TO GAS PRICES?

[+] serious ballot by LCD
ACTIVE Tue May 06, 08 - Wed May 06, 09
people are so dumb.

let's say you have a business. There are only few other business competing with you, and you have half the white house in your back pocket.

let's say they impose a tax on you.

how would you pay for it as a business? a business that don't have to worry about anti-trust, business that have addicts that would buy your product no matter what the cost?

would you raise the gas prices?

I would raise prices to pay for that tax
I would pay out of my own pocket, out of goodness of my heart.

Ballot #126548 : SEE RESULTS

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COMMENTS:
what's the solution you ask?

not stupid temporary tax of few cents.

1. let foreign oil producers compete in the domestic market. Threaten those oil companies with a influx of venezuelan petrol at 12c a gallon. See what that does to their gas prices.

2. Break up monopolies.

3. give huge incentives to new oil companies to compete with them.

by LCD on Tue May 06, 08 11:06am [+]

Voted : I would raise prices to pay for that tax
Probably

by skylab on Tue May 06, 08 11:15am [+]

You are looking at it wrong. Windfall profits taxes are usually levied at a percentage rate of the excess profits. If you make a profit above a certain percentage, then you are taxed on that amount. Raising prices to keep your profits is self defeating because you will pay more in taxes.

LCD, I have no idea what you mean in your first proposal.

by FiddleFaddleOnLSD on Tue May 06, 08 3:52pm [+]

^huh?

unless it's 100% of the excess profits (it's not) the prices will go up. that's simple economy. anyone who tells you different is trying to sell you a fairy tale.

by LCD on Tue May 06, 08 4:10pm [+]

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