Biden floats tax on oil companies that don't lower pump prices, increase production so,is he going to tax meat packers if they do not increase production and lower prices? what about dairy farmers, auto makers, mortgage lenders, what about every industry that has raised prices and reaped profits?this is more to appease the green party bs to make oil and fossil fuel look bad and greedy.
yeah, tax only a small part of the economic problem, can't have oil companies get rich, yet ignore all the companies that are in the food business getting rich, bought groceries lately?
Most taxes are imposed to influence behavior, why do you think they heavily tax cigarettes and alcohol but not groceries? Why do they tax large wealth transfers but not your dad lending you $100? Sometime I think you just like complaining just to complain.
no, if you tax one group for profit making tax them all, not just one to garner more votes. do you think only oil companies, and not others making profits should be singled out?
so how high do food prices need to go, what about electric rates, rent, etc, are they lesser a problem than oil companies?
They would be higher if you taxed them, which you seem to want to do because someone proposed taxing something else. I mean personally, taxing the hell out of oil and gas who have made record profits in the last few years and giving that to people to pay rent a buy groceries sounds like a fantastic idea. Is that what you want?
so how do you propose to give tax money from oil companies to people to buy food, a stimulus, wait, that got us here in the first place, every household gets 1000 dollars for food, and i am sure everyone would use it for food and rent only, right, got to have those new shoes and a new i-phone.
You're right, that sounds overly complicated. We should nationalize or partially nationalize those industries and give every citizen a monthly check, kinda like Alaska.
I appreciate concerns about using taxes to target specific industries. But oil and gas companies are oligarchic in nature with barriers to entry, so it's a bit unique. I don't think there have the same competitive pressures as other industries. They are also profiting off of a natural resource. Not saying they shouldn't be able to make a profit, but we regulate insurance rates and we regulate utility rates. I'm not sure if that's entirely different from pressuring them to lower prices through tax measures; neither is based upon purely free market principles. This is just a conceptual gut reaction and not saying this is necessarily a good or bad idea.
It is somewhat interesting how price controls are basically anathema now, when before 1970, they were pretty much a normal consideration capitalist economies made at times of distress. The neoliberal revolution really killed a lot of pretty normal (though protectionist) trade policies, like tariffs and stuff too. So much so that econ nerds make fun of you for even suggesting them. But this is a profession that will tell you that price gouging is actually good.
A politician uses the threat of increased taxes for political purposes? Who would have thought. DeSantis says state will take control of Disney's Reedy Creek district
