While you were robbed blind at the pump this year (and GOP blamed Biden), Exxon made $55,700,000,000 in profits.
Over $1 billion per week.
$152,600,000 per day.
$1,766.24 per *second.*
"Congress should heed #POTUS’s call and pass my bill to claw back Big Oil’s excess profits."
- Sheldon Whitehouse, Senator
@skykiss ☝🏻
Claw back all excess profits in all sectors, and of course oil and gas 🔥
Here in Canada too
Excess profits is a funny term.
It's one person deciding how much someone else should make, beyond their costs.
So like, I think you made too much last year. I'm going to call back some of your income because it was too much that you made.
Guess you should have spent more on groceries!
@volkris @alanrycroft @skykiss Unfortunately most regular citizens are not subsidized like the gas and oil industry. And, when you take into consideration the related climate damage (that the oil companies knew about in the ‘70’s but hid the data) the costs of us letting them garner profits while being subsidized and paying less taxes than an average citizen…. 1/2
Oh you're going into that whole thing about the gas and oil industry being subsidized. So much of that is easily debunked, based on these sensationalized claims that just don't really match how the federal government functions.
Those claims make for a good story, they get a lot of clicks, but they're just not reality.
But regardless of that, it still doesn't excuse what we're talking about here. Two wrongs don't make a right.
Let's get out of messing with the corporate balance sheets. Whether that's oil industry or any other. Let's just avoid that complication altogether.
You're talking about the average person versus corporations, but let's just talk about people paying their fair share, and corporations are not people.
Every bit that you tax from a corporation eventually comes from a person, so let's not go through that taxation through other steps where we cannot make it progressive because we can't control who is buying from the corporation.
