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I read recently that Exxon's net income ratio is a little over 8%. That's very good but there are other companies that exceed it. So how is it gouging? How do we define gouging - by ratios or absolute dollars? If by absolute dollars then we shold note that the Federal government takes about twice what the oil companies do. Who's gouging? The Federal government already gets the largest share of the pie and they want more?
It comes down to who you would rather have spending your money - the oil companies or the Federal government. If you believe that the government is an efficient and effective shepard of your dollars then tax the oil companies.
David Stinson said...
>How do we define gouging - by ratios or absolute dollars?
Neither, but the dollar amount provides good circumstantial evidence that something's going on.
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I read recently that Exxon's net income ratio is a little over 8%. That's very good but there are other companies that exceed it. So how is it gouging? How do we define gouging - by ratios or absolute dollars? If by absolute dollars then we shold note that the Federal government takes about twice what the oil companies do. Who's gouging? The Federal government already gets the largest share of the pie and they want more?
It comes down to who you would rather have spending your money - the oil companies or the Federal government. If you believe that the government is an efficient and effective shepard of your dollars then tax the oil companies.
>How do we define gouging - by ratios or absolute dollars?
Neither, but the dollar amount provides good circumstantial evidence that something's going on.