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Jan 20 2012

Democrats Propose Reasonable Profits Board

The novel Atlas Shrugged has become real. Unless there has been a communist coup, that is the only way this could happen in America:

Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a “Reasonable Profits Board” to control gas profits.

The Democrats, worried about higher gas prices, want to set up a board that would apply a “windfall profit tax” as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.

A “reasonable profit” is whatever our socialist rulers arbitrarily decree. Needless to say it will be far less than the tax on gasoline, which is several times higher than the thin profit margin taken by the people who take the risks and supply us with the gas.

The arbitrary decrees would be dictated by a Reasonable Profits Board, appointed by the Wealth Redistributor in Chief to three-year terms. Profits beyond 105% of a “reasonable profit” would be taxed at Democrats’ idea of a reasonable tax rate: 100%.

Kucinich said these tax revenues would be used to fund alternative transportation programs when oil-and-gas prices spike.

When the government stole our money to fund alternative energy programs, we got Solyndra. I can hardly wait to see Dennis Kucinich’s idea of alternative transportation. Free skateboards won’t do, because people would be able to ride their skateboards in whichever direction they choose.

The other culprits:

Co-sponsoring the bill are five other Democrats: Reps. John Conyers Jr. (Mich.), Bob Filner (Calif.), Marcia Fudge (Ohio), Jim Langevin (R.I.), and Lynn Woolsey (Calif.).

The trivial differences between the Democrat Party and the Communist Party USA are blowing away in the winds of Hope & Change.

Meanwhile, Obama just killed the Keystone XL pipeline, sending Canadian oil to our communist Chinese adversaries. As a result of his policies, gas already costs twice as much as when he took office; it would cost still more if not for the sluggish economy.

Consequently, shrill lies regarding oil company profits will keep getting louder — as will calls by Democrats for straightforward nationalization of the oil industry. By controlling gasoline, they will be able to control our mobility — which is also the point of “alternative transportation” programs.

dennis-kucinich-yelling.jpg
We have chosen to be ruled by these vermin.

On tips from AC, J, Kevin R, Sean, and Bob Roberts.

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  • FrankW

    I realize I only have an MBA but here goes. Profit is (very very basically) total revenue (how much you brought in) minus cost of goods sold (how much you paid out). With this board/tax you would be punished for finding efficiencies. If a business owner was to reduce costs, profit would increase without increasing total revenue. And then the profits windfall tax would be used to take away his gain and therefore suppress innovation.
    Let the market decide. If some schmuck wants to charge $1000 per gallon for a barrel of oil he will soon be out of business (unless it is a government owned oil company).

  • GoY

    In related news, it appears that the Obama Regime and Eric Holder are complicit in illegal foreclosure actions against thousands of active duty military personnel.

    http://www.jammiewf.com/2012/eric-holder-connected-to-illegal-foreclosures-of-active-duty-servicemembers/

  • AC

    The hour is drawing near.

    It’s too late for RINOs.

    We need something stronger.

    If the torch of freedom and the light of liberty go out here, there will be nowhere left for the common man to run.

  • AC

    I should mention that the last president to try and control the price of gas was RINO Richard Nixon. Romney and Gingrich are both clearly to the left of Nixon, who gave us wage controls, price controls, rationing, the EPA, and worthless fiat money.

    RINOs and leftist Democrats are united in one respect: both believe that when there is a problem, it is the government’s job to do something. They may disagree on what that something is, but they both believe that something has to be done. The question of whether the government should be involved at all never enters their mind.

    Prime example: insurance mandates.

  • Son of Taz

    Just in case anyone still had even a sliver of doubt that the Dems have become the Communists, this should clear all doubts.

    I want to propose a Constutional Amendment – no member of Congress can propose any law that affects private businesses unless that member has a minimum of ten years in the private sector in a management role. There would be other requirements, but that one alone would disqualify most of the SFBs in Washington.

    (SFB = sh*t for brains)

    Hang in there patriots, in just about one year, the end of BO and his politburo pals will be here.

  • Dupree

    “The Democrats, worried about higher gas prices, want to set up a board that would apply a “windfall profit tax” as high as 100 percent”

    So because Democrats are worried about higher gas prices, Democrats increase the cost of gas by taxing it? That’s not even double speak. It outright stupid.

  • Cheesy

    AC: I’m 55 yrs. old, lived a great life. I’m not going to run.

  • Spider

    Would the so-called “Reasonable Profits Board” also regulate the profits of the entertainment/news media industries as well? Yeah, right!

  • Sam Adams

    Lemme see…just trying to understand it from an oil exec’s perspective…the democrats are proposing to tax away some more of our profits, forget the fact that they already get far more in taxes than we get in profits, and they want to use that profit to fund technologies that they hope will put us out of business???
    No wonder the democrats embrace fascism; they have no idea how to invest their own money and make a profit based upon the merits of their investment. They have to use the government to make a “profit.”

    And some of you are worried that Mitt or Newt wouldn’t me much better????

  • whotothewhat

    I guess we could live like the Flintstones. Thats where the leftist want to take us.

    http://www.youtube.com/watch?v=2s13X66BFd8

  • Kevin R.

    In the early twentieth century the Progs did the same thing to the railroad industry. This was done in spite of the warnings of what it would do to the industry. It drained the railroads of the capital it needed to maintain its infrastructure and do any innovation. It froze the railroads like communist Cuba froze Havana, and then just like what communism does to what it has seized, the railroads slowly crumbled. The Unions were just the icing on the cake.

  • Marian

    When is anyone going to call these people what they are? Traitors causing clear and present danger to our country. Everything they do destroys something. Politicians are now declaring war on our country as it exists. Why are they getting away with it???

  • Festivus

    Marian, the group making this proposal are some of the most fringe members of Congress. It’s not going anywhere because no one, for the most part, listens to these people or takes them seriously. Those that do recognize that following along would damage their careers.

  • http://14 Cameraman

    Does this Come from the “Good and Plenty Clause in the Conyers Constitution? What a bunch of Asshat Traitors!

    Lampost Meet Rope!

  • J

    Leftists are loathsome creatures. Plain and simple.

  • Ghost of FA Hayek

    Festivus
    We said that about government run medicine.
    Never get comfortable, because
    these leftists never quit.

  • Sgt Stadenko

    FrankW says:

    Let the market decide. If some schmuck wants to charge $1000 per gallon for a barrel of oil he will soon be out of business (unless it is a government owned oil company).

    Wanna bet Barry and his wrecking crew have already thought of that?

  • Brian_Boru

    The only oil company I know of that is stealing their profits from the mineral and surface owners is Brea Canon Oil Company, owned by the Estate of Albert Levinson, which is made up entirely of registered Democrats. They’ve been stealing oil from the homeowners in Harbor City, California since their leases and easements expired in February of 2002. But since the judges in Los Angeles county are all registered Democrats as well, Brea Canon will be one oil company that will alwys be exempt from any “Reasonable Profits Board.”

  • Jeff

    Let me see if I got this correct; a gaggle of professional liars, thieves, and all around vermin (aka politicians) who have law degrees, who mostly likely have never held a “real job” in the private sector, presume to know what constitutes a “reasonable profit”.
    I know how this will end. Companies will have to bribe them (aka campaign contributions) to the sundry members.
    The public will get screwed again as prices go up to cover the cost of complience to the demands of the board (aka extortion). Shakespeare was right!

  • Chris in N.Va.

    And who better to render pure, impartial, Solomonic judgment on what is “reasonable” than these rational, OWS-supporting (such fine, upstanding yoots), totally impartial Obamessiah-worshiping sycophants?

    Suuuuurrrrrre, here, take absolute Power of Attorney over the life of every U.S. citizen while you’re at it. We, the downtrodden, ignorant peasants surrender our wills and lives to our beneficent and all-wise Overlords.

    Riiiiight….

  • http://Determinatus.com Determinatus

    I’m leaving.

  • 762×51

    A “Reasonable Profits Board” sounds fair as long as we can set up a Public Executions Board aimed at ridding America of the vile Commie scum who are destroying it.

    Clean up America, Kill a Communist.

  • Marlin Perspex

    The revolution is coming. The people must remember who has committed offenses against Liberty and make sure that these parties bear the full personal consequences of their actions.

  • Pingback: Democrats Propose “Reasonable Profits” Board « Evil of indifference

  • Alan

    We already have a reasonable profits system. It’s called a free market that promotes competition.

    We already had wind and solar power too. It’s called hydro electric dams. The sun evaporates ocean water and the wind carries over land where it rains down into reservoirs.

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