Biden threatens higher taxes on oil companies
if they do not work to lower gas prices
CNBC,
by
Emma Kinery
Original Article
Posted By: NorthernDog,
10/31/2022 7:43:43 PM
President Joe Biden threatened Monday to pursue higher taxes on oil company profits if industry giants do not work to cut gas prices. Biden has criticized oil companies that have made record-high profits as consumers struggle to keep up with high gas prices. The price of a gallon of gas was $3.76 on Monday, according to AAA, down from a record of over $5 in June but still higher than a year ago. (Snip) “If they don’t they’re going to pay a higher tax on their excess profits,” he said. With eight days to go before Election Day, White House
Reply 1 - Posted by:
GoodDeal 10/31/2022 7:46:57 PM (No. 1320305)
What a complete blubbering imbecile idiot and a moron. Lower the price of oil per barrel and guess what happens the price of gas goes down. Supply and demand.
30 people like this.
Reply 2 - Posted by:
voxpopuli 10/31/2022 7:50:54 PM (No. 1320310)
Biden threatens higher taxes on car companies
if they do not work to lower car prices
there.. EVERYTHING can now be fixed..
worked well for Russia..
16 people like this.
Reply 3 - Posted by:
Dreadnought 10/31/2022 7:54:09 PM (No. 1320312)
Businesses pass the tax on to the consumer. Biden is Delaware grifting.
15 people like this.
Reply 4 - Posted by:
WI Cynic 10/31/2022 7:55:01 PM (No. 1320313)
Someone should let Sleepy Joe in on a secret: companies don't pay taxes. The taxes get passed on to the companies' customers. You know, us.
You want to lower gas prices? Resign and let a conservative take over.
37 people like this.
Um. I think the bumper sticker, flags and window coverings here where I am…so quaint….FJB. And BHO couldn’t stop crowd from screaming it. So there you have your true blue measurement of voter sentiment.
8 people like this.
Reply 6 - Posted by:
ironchefw 10/31/2022 8:05:39 PM (No. 1320319)
Seems that the best way, at this point, for oil companies to work to lower oil prices at this point is to make major donations to help elect non-Democrats to national and state offices.
8 people like this.
Reply 7 - Posted by:
marlon 10/31/2022 8:07:35 PM (No. 1320323)
Somebody should also clue this moron in that Presidents can't raise taxes, Congress does. Pretty safe bet he won't have much sway on Congress after the mid-terms.
16 people like this.
Reply 8 - Posted by:
chance_232 10/31/2022 8:08:04 PM (No. 1320324)
Last I checked, only Congress has this authority.
13 people like this.
Reply 9 - Posted by:
pugetpower 10/31/2022 8:09:55 PM (No. 1320328)
My high school neighbor has figured out that raising taxes on oil companies will raise the price of gas.
15 people like this.
Reply 10 - Posted by:
earlybird 10/31/2022 8:10:21 PM (No. 1320330)
This angry old creep is always threatening someone. He’s forever the strongman who fended off Cornpop.
16 people like this.
Reply 11 - Posted by:
Quigley 10/31/2022 8:21:07 PM (No. 1320341)
Maybe he can send in the army to seize their assets and arrest their senior officers.
Bidet’s economic stance is that supplies will be reduced until prices fall.
10 people like this.
Reply 12 - Posted by:
kono 10/31/2022 8:28:33 PM (No. 1320347)
How long has it been since anybody in the District of Cretins even pretended to care about the Constitution's division of powers? Clearly the lamestream media don't care about that; but do any of them even know what it is any more? Did they ever?
8 people like this.
Reply 13 - Posted by:
jeffkinnh 10/31/2022 8:28:46 PM (No. 1320348)
This is insanity.
Basic economics, the more of a commodity you have available, the lower the price. The less of a commodity you have available, the higher the price.
Brandon CREATED these high prices by limiting access to fossil fuels. It was a DELIBERATE, and, according to dems, a necessary and noble act to save us from climate change. As fossil fuel becomes less available, the high price will discourage its use. The high price of fuel is not a bug, it's a feature.
Now, he wants to blame the market (oil companies) for doing EXACTLY as progressives wanted and the market operating exactly as markets must.
If the price of fuel drops at Brandon's command, people will use more of it and it will negate the whole purpose that started this merry-go-round. Brandon is talking out of both sides of his mouth.
It is insanity.
20 people like this.
“Joe” can’t button his pants without the Attorney General. This is designed to get the federal taxes for fuel up to Bammy’s “skyrocketing” levels. I am sick to death of this.
9 people like this.
Reply 15 - Posted by:
FunOne 10/31/2022 8:49:23 PM (No. 1320361)
The beatings will continue until morale and the economy improves.
8 people like this.
Reply 16 - Posted by:
czechlist 10/31/2022 8:59:51 PM (No. 1320364)
the bidet is doing exactly what he and his masters intend.
his blaming of others is pure political a s s h o l e armor. the biased media will sell it and the stupid will buy it
4 people like this.
Reply 17 - Posted by:
Jethro bo 10/31/2022 9:14:38 PM (No. 1320371)
I remember when the last Democrat genius Jimmah Carter did this. It only lead to higher gas prices, gas rationing, gas lines, rampant inflation and the Oil companies made a fortune. What could possible go wrong this time?
7 people like this.
Reply 18 - Posted by:
paral04 10/31/2022 9:23:00 PM (No. 1320378)
Biden knows that the laws are made in Congress not in his office. He's a tyrant.
5 people like this.
Reply 19 - Posted by:
Venturer 10/31/2022 9:30:35 PM (No. 1320387)
When did Joe Biden get elected to be dictator and why are we paying the Congress if Joe makes all the rules?
3 people like this.
Reply 20 - Posted by:
wilarrbie 10/31/2022 9:42:22 PM (No. 1320396)
Smooth move, Exlax, that'll bring prices down at the pump, right? Sheesh - this is why I keep as a talisman, a name taped to my computer: Nicolie Ceausescu. It gives me hope that sometimes people know what to do when pushed far enough.
3 people like this.
Reply 21 - Posted by:
vhs68 10/31/2022 9:57:23 PM (No. 1320399)
Yes #13, Joey is talking out of both sides of his mouth along with talking out of his arse at the same time.....
2 people like this.
Reply 22 - Posted by:
DrOstrow 10/31/2022 10:13:20 PM (No. 1320410)
First and foremost, this s****d S*B DOESN'T DECIDE or RUN ANYTHING ! You know it and I know it.
Secondly the people who ARE running this country into the ground haven't got the backbone to
come out from HIDING and admit what they are doing !
Oh, but what they are doing is illegal, you say, and and and and.
So what ? So it's illegal ? 'Illegal' hasn't seemed to stop or even slow this destructive juggernaut
You seen ANYONE arrested ? charged ? tried ? sentenced ??
Me neither. So what are they afraid of ?
Biden says EXACTLY what he is TOLD TO SAY except when he goes off teleprompter or ear piece or
cue card or .........
This man has spent the majority of his life in a bubble where NONE of the problems that you or I
may have ever come up for those 'in the bubble'. This is the 'disconnect' between Washington and the
ordinary citizen that has festered and gotten deeper for YEARS. I give you Pelosy and her $30,000
fridge filled with ice cream as just one example out of thousands.
Short of money ? Raise taxes ! Audit more returns to squeeze more $$$$ out of the peons and if that
doesn't work, change the income brackets so that EVERYBODY EXCEPT the elite, anointed SPECIAL
people have to pay more.
See problem solved.
Even if Biden was running things and had all of his faculties, you are still talking about an individual
who, because of the environment he has been in for almost 50 YEARS and therefor -
Let me quote something I read years ago, credit to the original author, who I no longer remember but wish
I could shake his hand and tell him I have NEVER seen a better explanation / definition of most
of the politicians we are now living under !!
Quote -
'Do these people have any idea of what they are saying ?
You have to bear in mind that these people really are very ignorant in the most straightforward
sense of the word. They know little beyond that which is needed to succeed within their
political system, a general understanding of e.g. history or economics ( let alone science,
technology or mathematics ) is far beyond them.
They believe the things they do not just because they know so little but also because they have
actively avoided learning more about much of anything. They blunder blindly on, attempting
to fit the ugly feet of their beliefs into the glass slippers of reality !'
End Quote.
Shouting, jumping up and down and throwing things is like shouting at the wind - useless !
3 people like this.
Reply 23 - Posted by:
DVC 10/31/2022 10:44:44 PM (No. 1320431)
Joe puts in place federal regulations, limits and shutdowns to cause shortages and now he tries to blame HIS INTENTIONAL ACTIONS on the oil companies.
Is it possible that he's THAT stupid? As stupid as he is, I don't think he believes one word of this BIG LIE.
The reason prices are high is DEMOCRAT POLICIES.
5 people like this.
Reply 24 - Posted by:
MickTurn 10/31/2022 11:23:14 PM (No. 1320451)
We have all the low priced oil you need...only problem is it's STILL UNDERGROUND and JOEY CUT OFF the Access.
3 people like this.
Reply 25 - Posted by:
PChristopher 10/31/2022 11:29:27 PM (No. 1320457)
Further proof that Biden is not at all bright.
1 person likes this.
Reply 26 - Posted by:
SALady 10/31/2022 11:40:33 PM (No. 1320466)
Economics 101: Raise taxes on a company, and they will pass that expense on to their customers in higher prices.
Senile Joe bidet and his unelected communist puppet masters seriously don't have a clue how free markets work!!!!!!!
1 person likes this.
Reply 27 - Posted by:
rberlin 11/1/2022 12:16:34 AM (No. 1320481)
The health of our economy is directly related to the price and availability of diesel fuel for transportation of goods more so than gasoline for cars.
0 people like this.
Reply 28 - Posted by:
mean Gene 11/1/2022 12:57:35 AM (No. 1320492)
Taxes are a congressional act, not an executive one.
The US Constitution prohibits "bills of attainder," which means TARGETED punishing taxes against one entity or person.
He's all talk.
2 people like this.
Reply 29 - Posted by:
Trigger2 11/1/2022 4:21:47 AM (No. 1320537)
Joey is a complete incompetent moron. Case closed.
1 person likes this.
Reply 30 - Posted by:
Old Army Vet 11/1/2022 6:57:06 AM (No. 1320604)
A lot of people think you are a moron Brandon, so do I.
1 person likes this.
Reply 31 - Posted by:
Mushroom 11/1/2022 7:08:18 AM (No. 1320614)
A rough translation of this is: We want our cut!
As so many other pointed out, the consumer always pays. So Que bono? Only the taxing authority. No one else.
0 people like this.
Reply 32 - Posted by:
mifla 11/2/2022 8:51:25 AM (No. 1321742)
Can't wait for a high ranking Dem to be caught on an open mic asking "how much longer do we have to put up with this fool"?
0 people like this.
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He's in a full-scale panic now that the midterms are only 1 week away. Crazy Old Joe's ideas are always wrong - always.