Democrats at work

[PaulS]

Associated press announced:

Energy, Ethics and Lobby Bills Advance
By JIM KUHNHENN, Associated Press Writer
3 hours ago

WASHINGTON - The House wrapped up the Democrats' "100 Hours" legislative sprint Thursday with time to spare, voting to recoup billions of dollars in lost royalties from oil and gas companies and roll back industry tax breaks.

So they are going to raise taxes on big business. Sounds good doesn't it? Its means that those businesses will raise the prices of their products so they can make the same money as they were making with the lower taxes. That means WE, the consumers, get to pay their taxes.  Thanks Democrats - you're doing just a fine job screwing middle America already.
Hey! look at the bright side.... Thats only the first 100 days. oh, joy.

[Keith L]

"Thats only the first 100 days. oh, joy."

Actually the first 100 hours, not days.  And I don't mind them taxing oil and other industry that have had record profits at our expense the last few years.

Before any of this gets to law it has to get past GW.  Lets see what he does.

[Casull]

And I don't mind them taxing oil and other industry that have had record profits at our expense the last few years.

Keith, what you don't understand is that this will also be at our expense.  Corporations don't pay taxes, the consumers do.  So everytime you cheer about some big business taking it in the backside tax wise, just remember that you will eventually be reimbursing them for it.

[Cowpox]

Yup, PaulS and Casull hit the nail on the head. I wouldn't mind if we only had to reimburse the new tax for them, but it seems to me, that if they get hit with a 1% tax, they raise the price of their products 3 or 4%, and blame the price increase on the tax. It would bother me little if corporations paid no tax at all, but it bothers me no end that the $300,000,000 a year corporate officers seldom pay much for income tax. Let's work on getting some tax from those boys. Of course it will never happen, because the people who write the tax laws would be raising their own tax burden as well.

[Heavy C]

They missed the mark on student loans too.  During their campaign speeches they promised to cut interest rates in half.  Now that they are in office it will be a phased in approach spread over 5 years.  Sadly the 100's of millions of dollars it will take to cover the cost of reducing interest rates could have been better spend on grant programs, scholarships, and subsidies for educational institutions.  Middle-income America is taking it in the shorts because they make too much to qualify for grants and make too little for them to pay for school out of their own pocket.  Their only alternative then is student loans.  If no one makes an attempt to start regulating tuition costs; then going to school will truly be out of reach no matter how low the interest rate is on student loans.

[ggeilman]

Don't buy the rhetoric. These corporations have been making record profits hand over fist while our income is up 3% over the last 5 years. About time they start paying their fair share. W didn't cut taxes, he just shifted them to us. Ever look at your utility bill lately? Every other tax has gone way up in order to pay for Bush's tax cuts. Why do you follow like sheep and give the rich and corporations breaks that you get no benefit from?

[Casull]

Why do you follow like sheep and give the rich and corporations breaks that you get no benefit from?

Once again we see class envy.  I know the rich and corporations pay a h*ll of alot more than I do (and I'm sure a lot more than you do).  And, with the corporations, whatever they get taxed is going to end up being paid by all of us.  So, you go ahead with your "sock it to the rich" notions, because it does you no good and just fuels more government spending.