Originally posted by Mobycat:
But those profits they made - the 30 Billion...is AFTER taxes. I think you'd be hard pressed to find any individual who even comes close to a fraction of that. All the richest people (namely Gates and Buffett) are getting their worth on paper only. They aren't profiting those billions.
Who cares how much profit they make. Since when is it any of your business? Since when is it any of the business of any politician? Since when is "profit" a dirty word?
If oil companies made $30 billion in profits, that means they paid far in excess of $30 billion in taxes.
Plus, those profits go to pay shareholder dividends and the bulk of the money is re-invested back into the business to develop oil and natural gas resources. You think it is cheap to pull oil and gas from the ground or the ocean?
Since 1992 the oil industry has invested $1.2 trillion of those profits you people complain about back into oil and gas development. That's TRILLION with a "T".
If they didn't have that money to constantly re-invest back into the business, who would be doing that investment to make sure the oil kept flowing? The government?
You people believe and repeat any type of populist, bullshit, socialist rhetoric any candidate throws in your direction without giving it any further thought.
Politicians treat the public like idiots. That doesn't mean you have to make an effort to prove them correct.