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Originally Posted by reccles44
First of all the economy is not bad. Look around you people. Companies other than oil companies are still growing and posting higher earnings. That does not happen in a down economy. We just could not have 2.5% to 4% growth every single year without inflation. Something had to give. Stop acting like spoiled children.
Whaaa, my gas is no longer $1.50 a gallon. Whaaa, my food prices are now more in line with the economic forces of the day. Whaaa. Good grief, are we really that spoiled???
As for the record profits of the oil companies. Well, I would welcome the Fed dropping the tax. Lets face it, the Fed and the States make far more off a gallon of gas than the oil companies make in profit off that same gallon. So if the oil companies earned $10 billion, how much did the government get? Think about it.
The government gets, what, about .60 cents a gallon in tax plus they get to tax the profit that the oil company makes. So its double dipping. So that means the government makes about 10 times what the oil company makes. So simple economics states that if the oil company earns .10 cents and the government gets .60 cents that would mean the government got 60 billion if the oil companies earned 10 billion. Come on people, who is cheating who.
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For me, you're right, the economy isn't bad. I own my own business, and because of the housing market taking a turn for the worse, I have regeared by business to focus on many things that the consumer wants right now, a year ago my business was in a different place, but I am making the best of everything because I was prepared for this, yes. Now, did others - no. The construction market has taken a complete nose dive, yes larger companies are making huge profits, but not all of them. Meanwhile the little companies are going under. I care more about the little guy and less about the billionaires.