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'Non Socialist' Dems propose 'Reasonable Profits Board'

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1) What determines a reasonable profit percentage

2) From the Oil/Gas, it can spread to other industries

3) Then you will have a board determining what is a reasonable wage

4) Finally the prices of items will be controlled.


Sound familiar
 
This wouldn't be necessary if better laws were enacted and existing laws actually exercised. Most of the egregious incomes are the result of skirting if not breaking law (e.g. mortgage fraud, for which literally thousands should already be convicted).
 
Dennis Kucinich is a fringe idiot. The good news is that he may soon be redistricted out of congress.
 
EagleKeeper said:
1) What determines a reasonable profit percentage

2) From the Oil/Gas, it can spread to other industries

3) Then you will have a board determining what is a reasonable wage

4) Finally the prices of items will be controlled.


Sound familiar
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I agree 100%, especially with 1. They only make 2-7 cent per gallon anyway. Is less than 1 cent per gallon a reasonable profit?

This would also cartelize the oil industry even further and possibly raise prices. If they want lower gas prices then it's possible by reducing the size of the government like reducing the gas tax and selling federally owned waters to oil companies or entrepreneurs so they don't have to pay OPEC above market prices.

The Federal government makes 2.5x what the oil companies do off gas anyway.
 
Doppel said:
This wouldn't be necessary if better laws were enacted and existing laws actually exercised. Most of the egregious incomes are the result of skirting if not breaking law (e.g. mortgage fraud, for which literally thousands should already be convicted).
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Yup, but they aren't, and sometimes a blunt intsrument is the best option.

For example, we used to have a Luxury Tax. Not the worst thing.
 
Dennis Kucinich is not representative of the mainstream American left. He is a fringe extremist who hasn't passed a single important piece of legislation that I can think of during his time in Congress.
 
What was it with socialism/marxism and the desire for government to control/own industry? Dangerous times we live it, remember this come November.

Obama is turning out to be worst than carter, he's pulling the same shit carter did with price controls.

"Gas prices continue to rise, creating a hardship for the American people," he said. "At the same time, oil companies are making record profits gouging their customers. This bill would tax only the excess profits and create forward-thinking transportation alternatives."
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Although it isn't a bad thing to have a luxury/windfall tax on occasion, or even to have people study when it would be appropriate, it should be done on an ad-hoc basis. Setting up a permanent board to do so is hazardous.
 
spidey07 said:
What was it with socialism/marxism and the desire for government to control/own industry? Dangerous times we live it, remember this come November.

Obama is turning out to be worst than carter, he's pulling the same shit carter did with price controls.
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So, where does anyone advocate the wholesale takeover and collective ownership of industry? Although I think the plan listed goes a bit too far, it certainly isn't the socialist boogeyman you and other righties make it out to be.

Socialism not found.
 
spidey07 said:
What was it with socialism/marxism and the desire for government to control/own industry? Dangerous times we live it, remember this come November.

Obama is turning out to be worst than carter, he's pulling the same shit carter did with price controls.
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Price controls are nothing new. Stupid, yes. But they're not new, and the certainly didn't start with Carter.
 
MovingTarget said:
So, where does anyone advocate the wholesale takeover and collective ownership of industry? Although I think the plan listed goes a bit too far, it certainly isn't the socialist boogeyman you and other righties make it out to be.

Socialism not found.
Click to expand...

You don't see government dictating profits as in any way a step in that direction?
 
"Profit" is easy to manipulate. They say they make 7 cents a gallon of gas, but CEO/Board/Executive Compensation is counted as an expense and thus not counted in profit. How inventory is done can heavily manipulate profits as well. You need a much bigger picture than just looking a "profit".
 
Atreus21 said:
You don't see government dictating profits as in any way a step in that direction?
Click to expand...

No, as we do that with utilities all the time. Even so, nobody is advocating the elimination of profit or takeover of the oil companies or their assets. I think that this proposal goes too far, but it isn't socialism.
 
This bill is just ridiculous.

I'm to the left of the Democrats on many issues, but the idea here is just bizarre. Why on earth would I care how much money someone makes as long as its legit ? And what the hell is a "reasonable" profit ?
 
Funny thing is the government makes more in taxes on gas than the big bad oil companies make in profit. How about a "obvious excess taxation" board?
 
khon said:
This bill is just ridiculous.

I'm to the left of the Democrats on many issues, but the idea here is just bizarre. Why on earth would I care how much money someone makes as long as its legit ? And what the hell is a "reasonable" profit ?
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Whatever arbitrary number the government decides. Similar to Obama's reasonable compensation czar - yes, Obama want's to control how much money you can make. I mean after all your earnings are profit to you, and obama will deem that to be too much.
 
spidey07 said:
Obama is turning out to be worst than carter, he's pulling the same shit carter did with price controls.
Click to expand...

That's odd, the article doesn't even mention Obama.

Again, name me one piece of significant legislation that Kucinich has pushed through Congress. The idea of a "Reasonable Profits Board" is insane but it also stands zero chance of going anywhere.
 
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