Should oil companies be taxed for their excessive profits?
by 
Peter the Mayor
ANSWERS: 3
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1. How do you know what their profits are? 2. How do you define "excessive?" 3. Businesses are allowed to make profits, otherwise why be in business? 4. They are taxed...
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I can't say "Oil corporate profits are excessive. It's tempting to blame oil corporations for rising oil prices. They are a beneficiary of rising oil prices, but they have *NO CHOICE* given the rules of the US economic system. Many oil corporation executives are paid via stock options. They are the recipients of a massive windfall when there is inflation.
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I think you all will find this analysis very good. Just listen to the perfectly clear explanation how we will be paying higher gas prices by taxing oil companies http://www.youtube.com/watch?v=uuNMsA0JPaE
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