Congress acts and collects 14 billion from Big Oil

This quote appeared right below the announcement that Exxon-Mobil reported the largest profits for a company ever. Congress and I suppose the American public should be outraged to action. So the left lead by Chuck Schumer have acted and hit Oil with a 14 billion bill.

"But in Washington, the earnings were seen as outsized. Sen. Charles E. Schumer (D-N.Y.), chairman of the Joint Economic Committee, issued a statement saying, "Congratulations to ExxonMobil and Chevron — for reminding Americans why they cringe every time they pull into a gas station and for reminding Washington why it needs to act swiftly to break our dependence on foreign oil and roll back unnecessary tax incentives for oil companies." "

But remember the old saying " I’m from the government and I’m here to help you".  Well the folks in Washington are only here to help themsevles.

Do you think for a moment that  big oil is going to adsorb a single penny ot the "tax reform" ? You can count on paying back every penny at the pump. This whole maneuver is a thinly veiled tax increase.
 

Those self-righteous sobs in Washington scream outrage at a 40 billion profit by our largest oil company. I took a look at our fuel totals www.doe.gov. I’m no account but my rough figuring on a federal tax of $0.184 per gallon; last year the government extracted $44 billion for gasoline and $50 billion for diesel.

So our Congress, while they do nothing and adding no value to fuel have tapped the economy for 94 billion dollars by just saying "pay me".

Let me get this straight Exxon Mobil are very bad people for working and earning 40 billion AND Washington says "pay me" for 94 billion  AND NOW IF LEGISLATION PASSES ADD 14 BILLION TO THAT!

Rough figuring again but that 14 billion works out to roughly a 6% increase in everones price at the pump. Please remember this in the voting booth in November when you’ve filled your tank with $4.00 gas to get there.

Share This