You're So Right, Obama! Windfall Profits Should Be Taxed ...
By Vladimir Posted in Energy | Windfall Profits Tax — Comments (31) / Email this page » / Leave a comment »
..and taxed heavily.
After all, past a certain point, success is just ... unseemly ... un-American, even.
In our capitalist system (for the time being, comrade), an investor may be entitled to a certain rate of return, but shouldn't it be enough be enough to double, or even triple your money? I think so, and I'm sure you agree.
Any more than that is pure greed. They're stealing from all of us.
And since the ill-gotten gains cannot be easily returned to the victims, who better than the government to collect the spoils, and to decide how to spend them. Certainly, they will go for the collective good.
And the greedy capitalist pigs can hardly object! They are benefiting disproportionately because of their position in a highly profitable, indispensable industry that has erected terrific barriers to entry. Surely, they will be satisfied with the portion the government decides to let them keep, and they will keep cranking out the product for mass consumption, just because that's what they do.
You with me so far? I thought so. Follow me.
...more...
Here's where we start, boys and girls: ENTERTAINMENT. I think we can all agree that entertainment has become a vital industry. After all, can you imagine what our lives would be without entertainment?
Here is the financial performance of the top return-on-investment (ROI) films of all time:
1. The Blair Witch Project ROI 495,900%
(Gross $248 million on $50,000 investment)
2. Napoleon Dynamite ROI 11,425%
(Gross $46.1 million on $400,000 investment)
3. Saw ROI 8,483%
(Gross $103 million on $1.2 million investment)
4. My Big Fat Greek Wedding ROI 7,260%
(Gross $368 million on $5 million investment)
5. Juno ROI 2,033%
(Gross $160+ million on $7.5 million investment)
6. The Passion of the Christ ROI 1,940%
(Gross $612 million on $30 million investment)
7. Good Will Hunting ROI 1,280%
(Gross $138 million on $10 million investment)
[My good judgment and knowledge of the RedState community compels me to stop at #7, because #'s 8-10 are the Lord of the Rings trilogy, and I'm afraid some moderators heads just might explode. It pays to know your audience.]
Well, anyway, there's a cool billion or so in tax revenue that Uncle Sam could pick up. I'm sure these guys won't object; when you've got that kind of dough, how are you gonna miss a few million here or there?
That what the democrats really dislike is business.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
-Thomas Paine: The American Crisis, No. 4, 1777
They're perfectly fine with business, if we're talking about an Oprah knocking down a couple of $billion, or ditto the Facebook kid.
Or Bill Gates, Warren Buffet, George Soros, or George Kaiser.
The Dems have just never met an issue they couldn't demagogue.
What kills them is when a working class kid gets an engineering (or geology, or business, or accounting degree, or maybe no degree at all) makes a good living in the oil business, then votes Republican.
Bwha-hahahahaha!
There is more stupidity than hydrogen in the universe, and it has a longer shelf life. - Frank Zappa
I don't think Brad Pitt should make 20M/movie. We need a windfall profits tax on actors/actresses as well.
While we're at it, Katie Couric has not been delivering for CBS shareholders. Just like those other greedy fatcats, reporters get axed and the news operations may get outsourced to CNN, while Katie gets to keep her 15M/year contract. We need a salary czar to regular all these excessive salaries.
“.....women and minorities hardest hit”
There is more stupidity than hydrogen in the universe, and it has a longer shelf life. - Frank Zappa
forces me to censor the first three -- no, make that four comments -- that come to mind.
I guess I will just say ^5
I mean really, just buy a license for Max Headroom and be done with it.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
-Thomas Paine: The American Crisis, No. 4, 1777
the skyrocketing cost of college tuition.
...but the biggest money loser ever is still one of my favorite movies.
"After two years in Washington, I often long for the realism and sincerity of Hollywood." -Fred Dalton Thompson
Fighting for conservatism one day at a time.
with your name attached.
That said, he's made some good ones, including the best baseball movie ever.
"After two years in Washington, I often long for the realism and sincerity of Hollywood." -Fred Dalton Thompson
This one might be better:
Fighting for conservatism one day at a time.
I am compelled to give that a 5! I have no free will in the matter!
"No compromise with the main purpose, no peace till victory, no pact with unrepentant wrong." - Winston Churchill
I can't believe it lost money, but I suppose by renting it I can help remedy that...
"Guns don't kill people...
"...But they sure help!"
-Paul Giamatti, Shoot 'Em Up
Seriously, Hillary, Bill and Barack invested $0.00 in a venture to write a book and brought in mega dollars. If that's not a windfall, I can't imagine what is.
I meant what I said and I said what I meant. An elephant's faithful 100 percent.
I know you want to get the Clintons, but NO! I have my reasons, to be unveiled soon!
Fighting for conservatism one day at a time.
though you can look on the bright side, as it's almost April 15 and you can just see the tax savings side of it, but in the universe of 'windfalls' your windfall (aka advance) is more likely to resemble a slight breeze on a July day, while their windfall (aka advance bribe) is more like an F5 tornado crossing Texas, Oklahoma and Kansas.
But after Lord Vegas is elected Supreme Conquering Leader of All That Is Good and the Exalted Master of the Universe, maybe you can write a book like Barney and really get a windfall. :)
I meant what I said and I said what I meant. An elephant's faithful 100 percent.
I was going to shoot him links to the economics of publishing. I forbore though, its better to let authors have their illusions. Its the only way the culture moves forward.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
-Thomas Paine: The American Crisis, No. 4, 1777
Lord Vegas is somewhat more likely to be anointed Supreme Commander of the World than either David or me. For that matter, right now I think more likely than Barack or Hillary being Pres.
And Barney's book sold pretty well. :)
I meant what I said and I said what I meant. An elephant's faithful 100 percent.
And then, that's sort of the point, isn't it.
--
Gone 2500 years, still not PC.
What if I, not really an inventor, but what if, invented THE NEXT MEANS OF TRANSPORTATION that was totally devoid of carbon fuel dependence and otherwise totally "Green?"
I enter the market with it, after battling the mega corporations who, according to all conspiracy theory, attempt to prevent me from releasing the one thing that will take away all their ability to make money on cars and petroleum.
I sell it to one and all, at a moderate price of 10,000. It only costs me 4000 to manufacture.
Impact to environment, 0.
Impact to federal tax incomes, WHOOOHOOOO!
Impact to local individual consumer's discretionary spending?
WHOOOOHOOOOO!!!!!
How long before I get windfall taxed out of operation?
whooops.
"Government of the people, by the people, for the people."
A. Lincoln
This has long been the habit of any company worth its salt.
And, yes, it's wrong.
I just wish we had more politicians who said "you shouldn't be able to socialize the losses" instead of leaping onto the "you shouldn't be able to privatize the profits" part.
Man is free at the moment he wishes to be. --Voltaire
I meant what I said and I said what I meant. An elephant's faithful 100 percent.
When I make money, I make money because of my smarts, my ambition, and the sweat of my brow. Should a man not be entitled to the fruits of his smarts, his ambition, and the sweat of his brow?
When I lose money, however, it's because of poor fortune, unfair business practices, excessive regulation, undercapitalization, and, as such, the losses are something that I need to be helped with by the government.
This works for oil companies, people who lose 15% of the equity in their houses, airlines... you name it.
Man is free at the moment he wishes to be. --Voltaire
... on TV advertising revenues and newsprint sales during election cycles.
Freedom of Religion not Freedom from Religion