Quick Hits & 1 Long Hit 5/6/08
May 6, 2008The Climate Security Act needs to be strengthened. You can use the League of Conservation Voter’s action page to request your Senators to do so.
Oil hit $122 per barrel in trading today. That’s double what it was one year ago. That’s more pressure exerted on families’ budgets.
Buyout billionaire Henry Kravis saved $96 million through tax loopholes in 2006 alone. That’s just one buyout billionaire, in one year, making use of one loophole (tax evasion scheme)! Just think how much these private equity crooks are costing taxpayers who are already battling financial hardships and home foreclosures. BraveNewFilms has a video about this and a request for the presidential candidates to close the buyout industry’s tax evasion scheme.
The Bush “administration” has lost 400 employee laptops that conduct delicate, often secret, diplomatic relations with foreign countries, an internal audit has found.
Ironically, the Anti-Terrorism Assistance Program is administered by the State Department’s Bureau of Diplomatic Security (DS), which is responsible for the security of the department’s computer networks and sensitive equipment, including laptops, among other duties.
These are the same idiots who want to convince Americans they can responsibly handle access to information about the lives of Americans while demanding no Congressional oversight. HAHAHAHAHA! I don’t know what’s worse though: the above or the fact that Rep. Steny Hoyer and others are still willing to grant retroactive immunity to proven lawbreaking telecommunications corporations.
Analysts are reportedly torn over what an energy windfall profits tax would do. A few things here: corporations were given tax breaks by President Bush and Congress. Now that Democrats want the breaks to expire, what are Republicans and corporations calling the action? That’s correct: a tax increase. They’re spinning it like the tax was never before applied and woe to the poor corporations that are earning profits in the billions every quarter.
Re-applying fair taxes on the oil corporations could provide long-overdue dollars to renewable energy research and development. There needs to be a much larger focus on the development side of things. Technologies exist to help reduce greenhouse gas emissions - we need to help drive them into the marketplace more efficiently.
If oil corporations raise gas prices to regenerate their ridiculous profits, a majority of consumers will not blame the government. It would be clear at that point which entity was really responsible for excessive prices.
Pro-corporate analysts in the article bring up the fact that Google has a profit margin of 25% while oil corporations have profit margins closer to 10% and nobody is recommending a windfall profits tax on Google. Can you point to an example of how you or your family is paying more for goods because of Google? Oil corporations are directing more of their profits to buying back their stock, enriching stock holders. They should be directing that money to developing refining capacity. They’ve ignored refineries for decades and we’re paying the price for that short-sightedness at the pump.
Of course, the ultimate ideological argument has to be presented: government shouldn’t force movement of monies to R&D, the “free-market” should. The Heritage Foundation gets a nod in the article, with David Kreutzer asking if the government could take this capital and do a better job investing it than shareholders can. David and others aren’t willing to recognize that shareholders haven’t been able to make the correct decisions in the past generation. They’re only interested in further enriching themselves and the rest of us get to suffer for it: high gas prices, geopolitical instability and occupying the Middle East are only a few examples.
I, for one, have no more patience for these greedy vampires. The “free-market” has been unable to act in the interests of our society’s citizens. Taxes need to be reapplied to oil corporations and the richest Americans. They need to invest their fair share into our nation’s infrastructure and long-term interests.
Posted by weatherdem