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EPS4

join:2008-02-13
Hingham, MA

This Google talk...

This reminds me of the people claiming the oil companies needed a "windfall profits tax"- they're making a lot of money, they need to give us some!


Austinloop

join:2001-08-19
Austin, TX
kudos:1

1 recommendation

I never cease to be amazed by those calling for a wind fall profits tax. The people calling for the tax fail to realize that the company will pass on the tax to the customer. That is just the way it works. Tax their profits and you will pay the tax on the profit.


patcat88

join:2002-04-05
Jamaica, NY
kudos:1

said by Austinloop:

I never cease to be amazed by those calling for a wind fall profits tax. The people calling for the tax fail to realize that the company will pass on the tax to the customer. That is just the way it works. Tax their profits and you will pay the tax on the profit.
Then tax their dividends Thats pure profit.

Austinloop

join:2001-08-19
Austin, TX
kudos:1

Last time I checked, i.e. when I did my last year's income tax, dividends are taxed.


patcat88

join:2002-04-05
Jamaica, NY
kudos:1

said by Austinloop:

Last time I checked, i.e. when I did my last year's income tax, dividends are taxed.
Then tax share trades, lets do $100 of tax per trade per share.

Austinloop

join:2001-08-19
Austin, TX
kudos:1

Are you planning on applying this only to energy stocks or every stock transaction.

Do you not understand that this is coming out of the individual's money, not the company's?


patcat88

join:2002-04-05
Jamaica, NY
kudos:1

said by Austinloop:

Are you planning on applying this only to energy stocks or every stock transaction.

Do you not understand that this is coming out of the individual's money, not the company's?
I think you ment investment banker's money. Individuals don't trade on a daily basis.

Austinloop

join:2001-08-19
Austin, TX
kudos:1

Oh, really, where do you get that idea? Well, guess what, when I buy shares I am going to get taxed also. You really don't understand that everything gets passed down to end consumer.

I am at a loss as to why taxing shares of a company would cause anything positive with respect to company profits. But what would I know, I only have an MBA. You are aware that most stock transactions are between stock owners and not the buyer and the company, except in the case of IPO's, aren't you? So you want to penalize investors for some redistribute the wealth scheme that didn't work the last time?


EPS4

join:2008-02-13
Hingham, MA
reply to patcat88

Most oil company shares aren't even worth $100...