'Non Socialist' Dems propose 'Reasonable Profits Board'

[spidey07]

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.

There were 5 other democrats on board and this kind of action has been pushed by Obama and majority of democrats. Thankfully they don't have the house, or you can bet your ass this would be passed.

Don't remember Obama pushing for it? Here, refresh your memory.
http://www.reuters.com/article/2008/06/09/us-usa-politics-obama-idUSWAT00963020080609

Democratic presidential candidate Barack Obama said on Monday he would impose a windfall profits tax on U.S. oil companies as he sought political gain from Americans' pain over high gasoline prices.

 

[ichy]

There were 5 other democrats on board and this kind of action has been pushed by Obama and majority of democrats.

Care to show me where Obama or the "majority of democrats" have endorsed this nonsense?

Again, Kucinich has had plenty of wacky ideas over the years. Show me one of them that has actually become law.

How's Rick Perry's candidacy doing BTW? 🙂

 

[palehorse]

I can remember a time when many of the Leftist posters on this board endorsed Kucinich's bid for the Presidency... I believe Craig was one of his biggest supporters... no?

total.whackjob.

 

[spidey07]

Care to show me where Obama or the "majority of democrats" have endorsed this nonsense?

Again, Kucinich has had plenty of wacky ideas over the years. Show me one of them that has actually become law.

How's Rick Perry's candidacy doing BTW? 🙂

See my post, the concept of a windfall profits tax has been pushed by Obama and democrats. Hell, it was part of his platform. Just google for it.

 

[Genx87]

Just cant make this shit up. Failboat ahead!

 

[spidey07]

Just cant make this shit up. Failboat ahead!

Why is anybody surprised? Obama said he was going to implement this tax. I swear, most people simply aren't paying attention to his words, deeds and actions. Why is anybody surprised? Fucker said he was going to do it.

 

[Atreus21]

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.

Yes, because utilities have been nationalized. Or state-ized, or whatever the term is when the government takes over private entities which ought to be allowed to compete in the market. Socialism is government ownership of the means of production, and that certainly sounds like a step in that direction.

No one is advocating the elimination of profit? No, they're just advocating that they be given the power to dictate what is "fair" profit. All they have to do is decide that zero profit is fair, since, you know, the big companies don't really need it.

 

[IBMer]

Yes, because utilities have been nationalized. Or state-ized, or whatever the term is when the government takes over private entities which ought to be allowed to compete in the market. Socialism is government ownership of the means of production, and that certainly sounds like a step in that direction.

No one is advocating the elimination of profit? No, they're just advocating that they be given the power to dictate what is "fair" profit. All they have to do is decide that zero profit is fair, since, you know, the big companies don't really need it.

Ummm, utilities haven't been nationalized, they just have to go through an approval board for anything they charge to the customer. They are also regulated in what is able to be recovered through prices since they are given a basic monopoly, such as power companies are only able to charge the exact fuel price that they pay with no mark up. They are still very much private corporations and still make a hefty profit.

 

[Atreus21]

Ummm, utilities haven't been nationalized, they just have to go through an approval board for anything they charge to the customer. They are also regulated in what is able to be recovered through prices since they are given a basic monopoly, such as power companies are only able to charge the exact fuel price that they pay with no mark up. They are still very much private corporations and still make a hefty profit.

They have to go through an approval board (which is state-appointed), and are granted a state-enforced monopoly. That's a difference in name only.

Companies like this are in business not because the consumer honestly wants to buy their product, but because the government has mandated that it knows better than the consumer who should provide basic utilities.

 

[JeffreyLebowski]

Care to show me where Obama or the "majority of democrats" have endorsed this nonsense?

Again, Kucinich has had plenty of wacky ideas over the years. Show me one of them that has actually become law.

How's Rick Perry's candidacy doing BTW? 🙂

So you lost your arguement to Spidey so you pull another strawman out trying to defend your position. You got owned. But as a typical lefty you won't admit to facts, you just try and deflect. The current administration AND members of Congress claim to be for the "little guy" and act like being rich is bad, but those very people are rich and have duped you lemmings into believing everything they say.

 

[Siddhartha]

This bill would not make it through Congress and I doubt that Mr Obama would sign it.

 

[IBMer]

They have to go through an approval board (which is state-appointed), and are granted a state-enforced monopoly. That's a difference in name only.

Companies like this are in business not because the consumer honestly wants to buy their product, but because the government has mandated that it knows better than the consumer who should provide basic utilities.

You have no idea what you are talking about in this regard.

 

[Jaskalas]

This bill would not make it through Congress and I doubt that Mr Obama would sign it.

Throw in some windmills, some military funding, some social security cuts, and a few million to 'green' jobs and the President would sign into law a bill that forcibly converted everyone to Evangelicals.

Just make sure it's under the fine print on page 1,312 of 2,000.

 

[spidey07]

This bill would not make it through Congress and I doubt that Mr Obama would sign it.

Obama and democrats have been touting this idea for YEARS. It was part of Obama's platform. Are people seriously not paying attention? It wouldn't pass the house only because of republicans, you can be sure if democrats had the house it would, and Obama would sign it. It was part of his platform. Scary times we live in.

 

[ichy]

Obama (unfortunately) pandered to certain people by saying he was for this idea on the campaign trail. Since becoming president he has done nothing to advance a windfall tax because he knows that the far-left that he felt the need to pander to during the election is composed of idiots. Sad that he did it in the first place but that's politics.

I'd also suggest looking at some of the other brilliant ideas that Kucinich has pushed for:
-Creating a Department of Peace
-Banning handgun ownership
-Abolishing the federal death penalty
-Free college for everyone

Just because a moron like Kucinich proposes something doesn't mean that the majority of the Democratic party is behind it and it certainly doesn't mean it has a chance of passing.

 

[piasabird]

I read some of what this article says and Disagree in principle. The government is not taking the risk, including cleanup and lost of investment costs, so why should the government get the reward. I would venture to say that as a percentage of profit per gallon of fuel sold, that the profit margin is quite small. Maybe the Oil Company should offer to buy up some of the older cars to get some of the older less fuel efficient cars off the road or offer a discount to people with cars that burn less gas. For instance it could offset the cost of a hybrid that uses less gas by charging less for gas.

What we really need to offset gasoline is for the government to force car makers to build smaller cars, and for the housing industry to build smaller or more fuel efficient housing.

In the long-run there are other areas where segments of commerce are making insane profits. Just look at the price for bottled water and jewelry. When a soda or a small package of choclate donuts costs $1.49, is that really justified? Is a box of cereal worth $5.00?

Lets get real!

If you drive a 10 ton mega-SUV, do you really have a right to complain?

 

[halik]

LOL Cucinich. If him and Ron Paul come in contact, they will annihilate and release a tremendous amount of troll energy.

 

[piasabird]

How about reasonable profits boards for Software, Operating Systems, and Music Industry????

Since Microsoft is a virtual Monopoly, the government should be setting the price!

 

[spidey07]

Sounds like dems are headed for directive 10-289.

http://conservapedia.com/Directive_10-289

Point Five. Every establishment, concern, corporation or person engaged in production of any nature whatsoever shall henceforth produce the same amount of goods per year as it, they or he produced during the Basic Year, no more and no less. The year to be known as the Basic or Yardstick Year is to be the year ending on the date of this directive. Over or under production shall be fined, such fines to be determined by the Unification Barod.

 

[piasabird]

I think software rights should work like drugs. After they have had a chance to earn back their investment, the software should just become generic, and go for the generic price.

 

[jackschmittusa]

The oil companies are a collective monopoly (for want of a better term). They never compete. Prices rise and fall the same day at all of the stations in a specific area and the prices are almost always equal to the penny. The cost of fuel in the ground is fixed but they raise the price because of what some nutjob in Iran says one day.

The investment banks blew up the housing market so now they are working on the commodities market and the oil companies are laughing all the way to the bank.

 

[Patranus]

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.

***QUOTE***

Heh. Right out of Atlas Shrugged.

 

[ichy]

I think software rights should work like drugs. After they have had a chance to earn back their investment, the software should just become generic, and go for the generic price.

Well the issue of software patents is a whole different can of worms...

 

[ichy]

The oil companies are a collective monopoly (for want of a better term). They never compete. Prices rise and fall the same day at all of the stations in a specific area and the prices are almost always equal to the penny. The cost of fuel in the ground is fixed but they raise the price because of what some nutjob in Iran says one day.

They don't have a monopoly but they are all buying the same commodity on the world market.

Besides, even if they were colluding then the solution would be to enforce existing anti-trust laws, not create some absurd anti-profit commission.

 

[frostedflakes]

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.

That's the hilarious part, an oil company making 5% profit or whatever off gasoline is evil, but the federal government taking about the same cut from every gallon is perfectly OK. And the oil company is the one who took all the risks and made all the right decisions, allowing this essential product to be delivered to consumers and businesses at an affordable price.