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Joe is pissed because the oil companies are making more money because the price has gone up. So he has a new answer on how the Democrats can solve the gas price increase. It is simple, just up the taxes oil companies have to pay and BINGO problem solved.
You would think he has no clue that taxes are in the EXPENSES column on the the ledger and is simply added to the list with other expenses. Net profit is also a number on the ledger that average out over time.
Businesses generally operate with a net profit averaging 2.2% - 4.5% and have for the past 35 years. That means if the total expenses go up and prices rise the numbers get bigger. And as those numbers rise, so does the net profit. If Joe gets his wish and we add additional taxes, the bottom lines will all go up and so does the prices.
Adding windfall taxes to oil companies will succeed only in raising prices at the pump, and (trust me on this) he knows that. The goal is to get the US into the same wonderful utopian Hell hole as Venezuela,
and a lot of other Socialist pig pens.
https://www.reviewjournal.com/news/politics-and-government/bidens-oil-tax-hike-could-make-fuel-even-more-expensive-2555024/amp/
You would think he has no clue that taxes are in the EXPENSES column on the the ledger and is simply added to the list with other expenses. Net profit is also a number on the ledger that average out over time.
Businesses generally operate with a net profit averaging 2.2% - 4.5% and have for the past 35 years. That means if the total expenses go up and prices rise the numbers get bigger. And as those numbers rise, so does the net profit. If Joe gets his wish and we add additional taxes, the bottom lines will all go up and so does the prices.
Adding windfall taxes to oil companies will succeed only in raising prices at the pump, and (trust me on this) he knows that. The goal is to get the US into the same wonderful utopian Hell hole as Venezuela,
and a lot of other Socialist pig pens.
https://www.reviewjournal.com/news/politics-and-government/bidens-oil-tax-hike-could-make-fuel-even-more-expensive-2555024/amp/
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