DJAP221 Posted August 1, 2008 Share Posted August 1, 2008 Ok I honestly don't know what will be the best plan of action to fix the problem but we do have to start somewhere. A quick fix may by time to come up with a long term solution. No everyone has brought this on themselves. So people are in the struggeling situation because of losing their job, becoming ill and not being able to afford things they once could or even becoming a single parent household for whatever reason. Personally, I'm struggeling because I am a single mom, returned to school after the company I worked for moved to Mexico and I just finished grad school a month ago. Heck, I didn't even qualify for a stimulus check because all my work was unpaid internships for the past two 1/2 years and student loans don't count as an income. So people out there don't need a handout, only need a helping hand. I don't think we should continue to give out money and people aren't trying to do for themselves but there are so many who are and they really need the help. Personally, had I gotten a check, I would have put it in the back too because I'm sure the times are going to get worse before they get better. As for the Oprah show, I saw the show when it first aired sometime last year and I must tell you, it is a true eye opener. It's almost amazing how he gave money away to other, bought truck, and never thought about putting it away for a rainy day and getting a home. Some people just don't think about the long term and only live in the here and now which is really sad sometimes. Link to comment Share on other sites More sharing options...
Oldskool Posted August 1, 2008 Share Posted August 1, 2008 This is nothing but straight up re-distribution of wealth, which is always step 1 in any Socialist style plan. Link to comment Share on other sites More sharing options...
Skins24 Posted August 1, 2008 Share Posted August 1, 2008 Horray! I'm sure this is really going to encourage energy companies to cooperate and lower prices! $1.00 gas, here we come! Link to comment Share on other sites More sharing options...
DjTj Posted August 1, 2008 Share Posted August 1, 2008 Stupid idea, but McCain's probably just going to one-up Obama by proposing a bigger stimulus ... :2drunks: Link to comment Share on other sites More sharing options...
JohnLockesGhost Posted August 1, 2008 Share Posted August 1, 2008 Ok I honestly don't know what will be the best plan of action to fix the problem but we do have to start somewhere. A quick fix may by time to come up with a long term solution. It's not like we don't know what leads to wealth. "Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things." - Adam Smith, 1755 Link to comment Share on other sites More sharing options...
Ray Brown Posted August 1, 2008 Share Posted August 1, 2008 This is such a dumb idea. A stimulus check, again, really? People slammed bush for doing this saying it was just a stopgap and what not. Taxing Oil companies for their profits is moronic. They end up throwing most of their profit into research and development of cleaner, more eco friendly ideas anyway, why take away from that. I hope Obama keeps coming up with dumb stuff like this. Link to comment Share on other sites More sharing options...
twa Posted August 1, 2008 Share Posted August 1, 2008 You want to fund more handouts? Drill here ...now I'm about to the point of hoping they continue this trend of irrational fiscal policy and blow up the economy for real....perhaps it can be rebuilt then. Link to comment Share on other sites More sharing options...
Oldskool Posted August 1, 2008 Share Posted August 1, 2008 This is such a dumb idea. A stimulus check, again, really? People slammed bush for doing this saying it was just a stopgap and what not. Taxing Oil companies for their profits is moronic. They end up throwing most of their profit into research and development of cleaner, more eco friendly ideas anyway, why take away from that. I hope Obama keeps coming up with dumb stuff like this. But its a good idea now because the money comes from those immoral, and very rich oil companies. They shouldn't have made soo much money. They were just asking for it. :laugh: Link to comment Share on other sites More sharing options...
Sarge Posted August 1, 2008 Share Posted August 1, 2008 People are struggling, you think they care if it's socialism? No, they'll vote for whomever gives them something. In this case it's money they didn't have to do a damn thing to earn, you know, like the rest of us that don't get handouts. And Obama knows it. A lot of people vote for whoever will give them the most. 40 years of liberal ideaology has taught them that Link to comment Share on other sites More sharing options...
DJAP221 Posted August 1, 2008 Share Posted August 1, 2008 I always thought it took money to make money. Maybe that's why I'm broke, I don't have money. lol I live in PA but work in OH because no one where I live is hiring unless you have the experience. Gas here in OH over the last three weeks were on a constant delcline from $4.09 down to $3.57 yesterday and this morning back up to $3.69. In PA it went from $4.09 to $3.99 just last week. Not to mention their gas for heating homes will be going up by 33% and people struggled last year to heat their homes. Why can't the reach share the wealth? lol Link to comment Share on other sites More sharing options...
Bucaro Posted August 1, 2008 Share Posted August 1, 2008 You, my friend, should have kept this to yourself... choosing not to make us all aware how little you know about the subject. The federal govt. makes more off a gallon of gas than the oil companies. I think if I remember correctly, oil companies make .08 cents a gallon of gas... and the federal and state govt. makes upward of .40 cents. Who's squeezing the consumers' pocket now? Maybe the govt. should "pay us for once". :doh: Liberalism and Socialism..the enemies within. Actually you show how little you know on the subject because the .08 that is made by the oil companies at the pump is added to the over .80+ made at the refineries which is where a mojority of oil companies profits come from (derived from the price of oil). I don't agree with this plan necesarrily but insulting others when you don't know that much just makes you look just as bad. Talk to an eneregy analyst and they will tell you the same thing. Link to comment Share on other sites More sharing options...
twa Posted August 1, 2008 Share Posted August 1, 2008 Have you looked at refiners profit margins Bucaro? The investment vs return is dismal Link to comment Share on other sites More sharing options...
PleaseBlitz Posted August 1, 2008 Share Posted August 1, 2008 Funny that he announces this so soon after the WSJ slammed his knowledge of economics. Whoever wrote that piece is getting lots of high fives today. I want to know who exactly his economics advisors are. Anyone know? Link to comment Share on other sites More sharing options...
Popeman38 Posted August 1, 2008 Share Posted August 1, 2008 Funny that he announces this so soon after the WSJ slammed his knowledge of economics. Whoever wrote that piece is getting lots of high fives today.I want to know who exactly his economics advisors are. Anyone know? Karl Marx? Link to comment Share on other sites More sharing options...
luckydevil Posted August 1, 2008 Share Posted August 1, 2008 Karl Marx? Lol, he is surrounded by a bunch of Chicago-school economists. You can't get any more mainstream when talking about his economic team. Link to comment Share on other sites More sharing options...
Predicto Posted August 1, 2008 Share Posted August 1, 2008 Funny that he announces this so soon after the WSJ slammed his knowledge of economics. Whoever wrote that piece is getting lots of high fives today.I want to know who exactly his economics advisors are. Anyone know? It has been posted several times here. Three academics -- Austan Goolsbee, 37, a University of Chicago professor and columnist for The New York Times, Jeffrey Liebman, 39, a pension and poverty expert at Harvard University, in Cambridge, Massachusetts, and David Cutler, 41, a Harvard health economist -- form the core of Obama's economic team. ``They're all top-notch economists,'' said Greg Mankiw, a Harvard professor and former chief White House economist for President George W. Bush. ``Their views are left of the political center, as one would expect, but only slightly.'' A trio of seasoned Washington hands bolsters the academics: Karen Kornbluh, policy director in Obama's Senate office; Daniel Tarullo, a professor at Georgetown University in Washington, and a former senior economic adviser in the Clinton administration; and Michael Froman, the chief of staff for former Treasury Secretary Robert Rubin who now works with his old boss at Citigroup Inc. Also Former Bush Treasury Secretary Paul O'Neill and former Securities and Exchange Commissioner William Donaldson, former Federal Reserve Chairman Paul Volcker, Warren Buffett and AFL-CIO President John Sweeney. With that said, I do not support this new proposal from the Obama campaign. It's as stupid as McCain's "gas tax holiday." The pandering is getting worse as November nears. Link to comment Share on other sites More sharing options...
DCsportsfan53 Posted August 1, 2008 Share Posted August 1, 2008 I have to admit, while there's not a single chance in hell of me voting for McCain, the more time that goes by, the less and less comfortable I get with voting for Obama. You know what, markets take turns, demand makes things more expensive, it's part of life, always has been. It absolutely is not the governments job to protect us from supply and demand, which is essentially what this is attempting to do, at great expense, and for an extraordinarily short period of time. It'll get votes probably, because people want the checks but it's economically irresponsible and stupid. Believe me, I could ****ing use some extra cash right about now, especially with my 300 mile weekly commute but I'm against this and I was against the last two as well. Where the hell are the reasonable candidates? Why can't we find someone who's going to be fiscally conservative without trying to make us a military/police state? Where's the candidate who'll let me do what the **** I want with my body and my life but won't try and save the whole ****ing world and protect me from my own stupidity with tax $? Link to comment Share on other sites More sharing options...
PleaseBlitz Posted August 1, 2008 Share Posted August 1, 2008 It has been posted several times here.Also Former Bush Treasury Secretary Paul O'Neill and former Securities and Exchange Commissioner William Donaldson, former Federal Reserve Chairman Paul Volcker, Warren Buffett and AFL-CIO President John Sweeney. With that said, I do not support this new proposal from the Obama campaign. It's as stupid as McCain's "gas tax holiday." The pandering is getting worse as November nears. Thanks for the list. A bit shocking to see Donaldson and Buffett on that list. Link to comment Share on other sites More sharing options...
Bucaro Posted August 1, 2008 Share Posted August 1, 2008 Have you looked at refiners profit margins Bucaro?The investment vs return is dismal Their margins are completely baked because the upstream and downstream costs are not specified. The only way to get a complete look at the margins are to look at business margins, not that of the individual segments because the companies are almost fully vertically intergrated. Link to comment Share on other sites More sharing options...
Predicto Posted August 1, 2008 Share Posted August 1, 2008 Their margins are completely baked because the upstream and downstream costs are not specified. The only way to get a complete look at the margins are to look at business margins, not that of the individual segments because the companies are almost fully vertically intergrated. Of course. Some people seem to think that Exxon made its 11.7 billion dollar profit last quarter by selling extra Tic Tacs at the gas station counter. Link to comment Share on other sites More sharing options...
Bucaro Posted August 1, 2008 Share Posted August 1, 2008 Thanks for the list. A bit shocking to see Donaldson and Buffett on that list. Buffett is not suprising in the least to me. He is the biggest proponent of the rich don't pay enough taxes and he has been a left leaner with his economic opinions for a while now Link to comment Share on other sites More sharing options...
Predicto Posted August 1, 2008 Share Posted August 1, 2008 Thanks for the list. A bit shocking to see Donaldson and Buffett on that list. Why? Despite what some people on this board like to say, Obama is not a Marxist. :laugh: Link to comment Share on other sites More sharing options...
willmb5 Posted August 1, 2008 Share Posted August 1, 2008 Of course.Some people seem to think that Exxon made its 11.7 billion dollar profit last quarter by selling extra Tic Tacs at the gas station counter. I love tic tacs, especially the orange ones Link to comment Share on other sites More sharing options...
DCsportsfan53 Posted August 1, 2008 Share Posted August 1, 2008 Buffet is not suprising in the least to me. He is the biggest proponent of the rich don't pay enough taxes and he has been a left leaner with his economic opinions for a while now They don't because they're able to hide their money from taxes through various loopholes. Buffet has pointed this out before and said it's wrong that he's able to pay a lower % of taxes vs income than the average American. HOWEVER, the answer is not to punish oil companies by taking money they earned and redistributing it. That's not the way. The way is to fix the tax code so that top earners can't hide their money and pay a lower % of their income. That is definitely a problem that needs correcting but wealth redistribution and punishment for making too much is not the answer. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted August 1, 2008 Share Posted August 1, 2008 Why? Despite what some people on this board like to say, Obama is not a Marxist. :laugh: I know he's not a Marxist, I wasnt saying im surprised they are on his team, im surprised that he would release a plan like this with those 2 as advisors, because, frankly, this plan is very dumb for several reasons. Buffet and Donaldson know better. Link to comment Share on other sites More sharing options...
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