11 Feb 2007 02:28 pm
Hillary Watch – Taxes
The truth is, the more you tax profits, the more you undermine the American work ethic and the incentive structure that goes along with it. In fact, you demoralize the very system that has made this country great. – Lawrence Kudlow Read more Kudow here.
I know; I know; this is suppose to be about Hillary. But it is!
2004 – Hillary Clinton headlined an appearance with other women Democratic senators in San Francisco, where donors gave as much as $10,000 to California Sen. Barbara Boxer’s campaign.
“Many of you are well enough off that … the tax cuts may have helped you,” Clinton said, according to the Associated Press.
“We’re saying that for America to get back on track, we’re probably going to cut that short and not give it to you.
“We’re going to take things away from you on behalf of the common good.” Hillary Rodham Clinton, Democratic Presidential candidate 2008
“From each, according to his ability….to each, according to his need” Karl Marx (Communist Manifesto)
2007 Hear Hil in her own words, “I want to take Oil Company’s profits…”. http://www.youtube.com/watch?v=j1PfE9K8j0g
1) There already is a tax on windfall profits for all corporations (Federal Corporate income tax)
2) Share holders receiving dividends from their investments pay some capital gains taxes as personal income tax. (that percentage of tax has been lowered during the Bush Administration)
Corporate profits are already taxed.
Anyway… We benefit? Who is “we” – Exxon shareholders?
Note: Major Holders of Exxon Mobil stock:
http://finance.yahoo.com/q/mh?s=XOM
% of Shares Held by All Insider and 5% Owners: 0%
% of Shares Held by Institutional & Mutual Fund Owners: 52%
% of Float Held by Institutional & Mutual Fund Owners: 52%
Number of Institutions Holding Shares: 1475
Up for a better idea?
DRILL IN FREAKIN’ ANWR! We own it, let’s use it.
The area reserved for drilling is a pin spec 3 sq miles you can’t even see here!!!
Perhaps the smartest woman in the world can explain what she expects will happen when an industry (that our entire economy depends on) loses all profits.
oh, and thanks for your time, Senator Chavez er… Clinton.
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