We Will Decide How Much You Can Keep

The “Speaking Of Geniuses” thread is still active, your money and how much of it you get to hold on to is near and dear to everyone’s heart, but for you corporate tycoons and runners of businesses, remember one thing, Washington wants what is yours and will legislate to steal it:

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.

The Gas Price Spike Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100 percent on all surplus earnings exceeding “a reasonable profit.” It would set up a Reasonable Profits Board made up of three presidential nominees that will serve three-year terms. Unlike other bills setting up advisory boards, the Reasonable Profits Board would not be made up of any nominees from Congress.

I know that was a lot to digest, let me break that down for you:

1) Six Democrats (the party that keeps tripping over themselves waving their capitalism bona fides) thinks it is a good idea to limit capitalism.
2) They want government to decide how much money you can make and at what point every dollar over that gets taxed at 100%.
3) Unclear of what that level should be (we will decide that later, trust us).
4) They are only targeting one small portion on one sector of the economy (the sale of oil and gas).
5) The president gets to decide who sits on that regulatory board (no qualifications are mentioned, those obviously being only limited to abide by his notion of fairness).
6) Congress gets no say regarding the appointees, further strengthening the power grab of executive order, and consistent with his attitude lately of ,”Congress? I don’t need no stinkin’ Congress”.

Funny, but I don’t hear about any movement to limit the profits of grotesquely obese filmmakers, or penis nosed pasty white skinned talk show personalities. In the last few days my local paper has been populated with stories regarding Tim Lincecum, and whether the Giants will pay him $21 million for next season, all for throwing a baseball.

But Kucinich, being the good greeny that he is, he wants all this tax money to go down that alternative energy rathole, there has got to be more Solyndra’s out there.

This clearly could be a golden goose. Start out with the oil industry, then move on to financials, pharmaceuticals, telecommunications, consumer stables, utilities, hell, the sky is the limit.

If these 6 little monkey’s in a barrel were so concerned about high gas prices, where was their leverage (and now where is the outcry) in getting Obama to approve the pipeline? If we are to glean any themes from the president’s actions, he wants to keep unemployment high, gas prices high, and America dependent on foreign oil (and the enemies that produce it).

I’m trying to think of some stupid stuff that Congress (or members of) has proposed lately that would rank on the idiocy level with this. No, it won’t pass, but still, it shows you the type of people there that can and do influence our lives.

Comments are closed.

  1. Seattle Outcast

    For me one of the most telling things is that over the years the left has kissed up to Kucinich and marveling at what a visionary intellect he was.

    Carter started this crap, and it exploded in his face. You’d think people would have learned something from his bad example.

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  2. TxAg94

    I assume their view is that rising oil and gas prices are purely at the whim of the companies? No matter what, it seems to me that oil and gas prices are far more sensitive to what this same government does by way of international policies and relations. Don’t approve the Keystone project, oil and gas may well rise in cost. Keep screwing around with Middle East affairs, for right or wrong, oil and gas likely go up. I’m no fan of oil companies but the shift of blame is ridiculous. Nothing new, though.

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  3. AlexInCT

    Despite all their assurances to the contrary, the driving issue on the left that keeps producing stuff like this is tied tp the belief that they feel anyone else that becomes well off – makes a profit – did so by nefarious means and/or at the expense of someoen else, because that is how they would do it. Don’t let them preach about how this isn’t what is motivating them, because when you get them talking, sooner than later, they let their guard down and then they give away, unintentionally, that is exactly what motivates them.

    Elitist scum like this hate profits. They want you to give it all away. The only people that should be well off and have persk is people like them and those they choose to let in that inner circle. In the old USSR this entity was called the Polit Bureau. Our marxists want the same here.

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  4. Monolith

    What about Hollywood actors, directors, etc? What about pro athletes? Google? Apple? Ford? Congress members’ investment profits? What’s stopping Obama from judging if the profits of any business or entrepreneur or investor are too large?

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  5. AlexInCT

    As long as they are good leftists and parrot the correct narrative, even when they then hire oodles of accountants to help them hide money or cheat and hide the money, they are OK, Monolith. It’s not about what you do wrong to make money, but about giving lip service to the machine used by the left to screw us over. Pay homage to Marxian justice nonsense and you can get away with making billions and screwing dead boys, as the record shows us constantly. Tell people you want to be left alone and not abused by government and the marxists in it however, and then you are gonna get it.

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  6. hohokiss

    They want government to decide how much money you can make and at what point every dollar over that gets taxed at 100%
    Funny, but I don’t hear about any movement to limit the profits of grotesquely obese filmmakers, or penis nosed pasty white skinned talk show personalities

    Who would object to a tax that essentially limits ones personal income to $20 million or so per year? “They’d be forced to move operations to foreign countries!” Forced to make fortunes for themselves they leave their countries behind.

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  7. hist_ed

    The economy is always zero sum to these people.

    That fact that these few idiots think this is a good idea isn’t such a big deal. The fact that the Democratic party will continue to take them seriously is a big deal.

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  8. thelastdakrat

    “Have you stopped to ask them: by what right?—by what code?—by what standard?”

    That’s the same train of thought I was on. Except I was thinking of…

    “When you have made evil the means of survival, do not expect men to remain good. Do not expect them to stay moral and lose their lives for the purpose of becoming the fodder of the immoral. Do not expect them to produce, when production is punished and looting rewarded. Do not ask, ‘Who is destroying the world?’ You are.”

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  9. hohokiss

    “He was guilty of nothing, except that he earned his own fortune and never let anyone forgot that it was his.”

    Fixed.

    My managers sent me countless emails bemoaning global “challenges” and “hardships'” the economy was facing, talking about getting them fixed via another few earnings restatements, offering me 35-hour work weeks (no hardship there) so I could spend more time with my family while they wrote up another missive telling me I could continue my job as a contractor sans benefits or fuck off for good. This strategy still led to Ch 11 and my bankruptcy anyway, but inspired the managers to give themselves multi-million dollar retention bonuses for not cashing in and leaving, at least until they found themselves new jobs. “Captn never leaves the ship” Wow, bonuses all around .

    Sure, they’re “guilty of nothing” as this is all officially hard-earned, legal and 100% ethical, according to the brass who created the rules codes, and standards, and the masses who mutely tolerate it (except for a handful doing these OWS thingys)
    The masses eventually apply a lil “monkey see, monkey do” and vote into power someone who promises to get some of the money back the elite few stole from them.

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  10. hohokiss

    Rand advocated reason as the only means of acquiring knowledge and rejected all forms of faith and religion. She supported rational egoism and rejected ethical altruism.
    Rand’s political ideas have been influential among libertarians and conservatives. The Objectivist movement attempts to spread her ideas, both to the public and in academic settings

    Religiously they adored her, nothing objecive about that. This led to her

    Rand expressed opinions on a wide range of topics, including literature, music, sexuality, even facial hair, and some of her followers mimicked all her preferences, wearing clothes to match characters from her novels and buying furniture like hers Rand was unimpressed with many of the NBI students

    being unimpressed with yer typical celebrity ass kissers

    A heavy smoker, Rand underwent surgery for lung cancer in 1974. Several more of her closest associates parted company with her

    I had the same experience.

    On topic, my former bosses giving themselves retention bonuses was rational egoism, then?

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