A Real Life Wesley Mouch

[Outlaw289]

http://www.kucinich.us/

Oil companies should not profit excessively from the increasing scarcity of our natural resources

Help Push Kucinich Bill to Tax Windfall Profits of Oil Companies

Provides tax benefit for purchasers of high efficiency American-made cars, subsidies for mass transit

On May 4, Congressman Kucinich and 33 cosponsors introduced in the House of Representatives H.R. 2070, the Gas Price Spike Act of 2005. The Bill has been referred to the House Ways and Means Committee and to the House Transportation and Infrastructure Committee.

This legislation provides for a windfall profit tax on oil and natural gas (and products thereof), allows an income tax credit for purchases of fuel-efficient passenger vehicles made in the United States, and provides grants for operators of mass transit systems to lower fares during gas price spikes.

Oil companies should not profit excessively from the increasing scarcity of our natural resources

Windfall profits are profits due to outside circumstances - not directly under the control of the energy company - which exceed a reasonable profit level, to be established by an appointed board whose members have no financial interest in any of the affected companies.

The windfall profits tax on oil companies would be:

    * Half of the profit between 100% and 102% of what's determined to be reasonable; and

    * Three-quarters of the profit between 102% and 105% of the reasonable level; and

    * All of the profit which is 105% or more of the reasonable level.

Cleaner and more efficient cars, American jobs and money in the bank

To qualify for a tax credit, a vehicle would need to be a new car, truck or sport-utility vehicle (SUV) purchased for non-business use and assembled in the United States by workers employed under a collective bargaining agreement which gets at least 45 miles per gallon (MPG) of fuel (35 MPG for trucks and SUVs).

The tax credit allowed per taxpayer per year would be:

    * $6,000 for cars getting 65 MPG or more (trucks/SUVs 55 MPG plus), or

    * $4,500 for cars getting 55 MPG or more (trucks/SUVs 45 MPG plus), or

    * $3,000 for cars getting 45 MPG or more (trucks/SUVs 35 MPG plus).

These would not be deductions, but credits off the bottom line income tax of purchasers.

Mass transit needs to be easier and cheaper

Fare reductions would need to be applied equally to all passengers using a mass transit system. Grants would be funded by revenue from the windfall profits tax on oil and gas companies, to the extent that revenue remains after funding of tax credits for purchasers of fuel-efficient vehicles.

[valjean]

I haven't actually looked at the site you linked to, but from looking at the quotes----this looks pretty sickening and Mouchish to me.

[Styles2112]

I don't know any "trucks" that get 35 miles to the gallon. Unless they're talking about those tiny little rangers and what not. No REAL truck gets that kind of gas mileage.

[IdeaSave]

Here is an email I sent to my congressmen about this horrific bill:

H.R. 2070 proposes to give politicians the power to determine what level of profit is "reasonable". This directly contradicts the founding ideals of this country, since it means that citizens should keep their wealth by permission rather than by right.

The only important difference between this bill and a house-to-house trip to confiscate people's wealth at gunpoint is that the latter is at least open and honest about its intent.

For these reasons, I want to see this bill defeated as quickly as possible.

Mark Peters

[Scott_Connery]

I don't know any "trucks" that get 35 miles to the gallon.  Unless they're talking about those tiny little rangers and what not.  No REAL truck gets that kind of gas mileage.

The little trucks don't get anywhere that kind of mileage either. I have a 4 cyl 4x4 tacoma, and get about 20 city, and maybe 25 highway.