Most everyone on the Left, either believe, or accept, the notion that if you want to raise Revenue, you simply RAISE TAXES. Now no one wants their Taxes raised, so they attempt to give most a false sense of security, and say, "we'll only raise taxes on the Super Rich and those Companies that make insane "Windfall Profits."
The sad fact is, a lot of people go, "Hey, I agree. Why should they make Billions, while I can not pay my bills? I have no problem with the Government raising taxes on the Rich."
The problem is, this IS a falsehood. Raising taxes will NEVER increase Revenue. It WILL reduce Revenue. Happens EVERY TIME they try it. First, the Wealthy Individual will simply cut back on what they are doing to lower the Tax Bill. They will cease to have an "income" and live off of their already substantial savings and other assets, until the Tax rate goes back down. Companies will increase costs to YOU, the consumer, and or, cut Jobs, not invest in expanding, and find other loopholes to get out of paying the increase.
So then, the Government, which does this every time, RELYING on the NEW INCREASED number, Spending in accordance with that new number, now has to find other ways to make that up. That would be YOU. They will increase YOUR Taxes, or the goods and services YOU use.
That aside, lets look at one of their favorite targets. Big Oil. They call them Subsides, but they are NOT. Subsides is where the Government takes YOUR money, and gives it away to people and Business, that play alone with Government. In other words, multi Billion Dollar Government GIVEAWAY for their crusade to promote Alternative for Electricity Generation. The multi Billion GIVEAWAY for Hybrid Vehicles, ETC. They do NOT give ANYTHING to Big Oil. What they call "Subsides" are actually Tax break incentives. Your MONEY is ACTUALLY going to places that are NOT increasing Revenue to the Government, saving the Planet, nor making your life easier. It is NOT going to Big Oil.
Even with the FACTS, as we talked about before, when talking Billions and Trillions of dollars, most can not get their head around those numbers for their sheer size. They are told that Big Oil made Ten Billion dollars, and YOU are having a hard time paying your Mortgage, so that's not fair. Even back when Hilary was running, she said she would TAKE Big Oil Profits and give them to you. The crowd cheered.
So what is the REALITY of the situation of Taxes and Energy? Mark Green over at Energy Tomorrow posted an EXCELLENT Post and Graph, showing this absolutely clear, for ALL to understand. Energy Tomorrow - Energy Policy - The Choice By Mark Green Tuesday 17 May 2011
Public policy making often is a muddled affair, but this month in Congress we're seeing something different: a clear, either/or choice when it comes to planning for our energy future. One path is increasing access to America's domestic resources so we can create jobs, raise government revenues and produce even more of the energy we use right here at home. The other path involves increasing taxes by removing standard business deductions - not just for a specific industry but for specific companies within that industry.
Back in January energy consultant Wood Mackenzie took a look at this very scenario - and the choice is clear.
As for those "Windfall Profits?" I've talked about that in the past also. "Windfall Profits?" Do you even know what that means? Seriously. Not being sarcastic here. Do you? That means you do nothing to gain Profit from something. In other words, winning the Lotto, receiving an unexpected Inheritance, the Government taxing Big Oil, ETC. Many trace this back to Colonial Times. The British Government controlled how much and what kind of wood they could use. However, if a Storm came through and knocked down a bunch of Trees, they could use them due to that being an Act of God.
Over the past two weeks, the House of Representatives chose jobs, increased government revenues, and greater energy security. This week it's the Senate's turn to choose. Looks like a no-brainer.
Energy Companies spend hundreds of Billions to make Billions. They have to Explore, Retrieve, Refine, Ship. You never hear when they spend Billions and find a Dry Well. No Oil. You want to talk about "Windfall Profits?" That would be the Government making Billions by doing nothing more that imposing a TAX on Energy. THAT is a Windfall Profit. The Government makes FAR more on a gallon of Gas than the Oil Companies do.
As with many things in the Liberal Belief System, the FACTS just do not add up to REALITY. In most cases, there are completely opposite to it.
Energy Tomorrow - Energy Policy - The Choice