CNN continued to harp about "big oil’s" record profits and the Democrats’ proposed windfall taxes on companies like ExxonMobil on Wednesday. In an interview of Kansas Senator Sam Brownback on "American Morning," co-host John Roberts was amazed over the Republican’s opposition to the tax proposal. "There were a couple of other provisions in this bill. One of them were to roll back the $17 billion in annual tax breaks so that these five biggest oil companies get. Together, they made... $36 billion in profits in the first quarter this year. Why do they need $17 billion in tax breaks?" Later, during "The Situation Room," host Wolf Blitzer returned to his laser-beam focus on ExxonMobil as a particularly "guilty" part of "big oil." He asked former Republican presidential candidate Mitt Romney, "Explain why it's appropriate at this time of rising gas prices, for ExxonMobil, for example, to get additional tax cuts."
Roberts asked a series of questions which reflected the liberal viewpoint on "big oil" during his interview of Brownback, which began 26 minutes into the 7 am Eastern hour of "American Morning." After the Senator explained why he opposed the Democrats’ windfall tax proposal in the Senate, that it was a "partisan shot at the oil companies that's going to raise the price of gasoline, not cut it," Roberts asked for a further explanation: "Why do you say it would raise the price of gasoline and not cut it?" Brownback replied, "Whenever we put a tax on things, things go up in price. They don't get -- become more available, and we tried this before with Jimmy Carter." Roberts, however, wasn’t satisfied by this answer: "But you're putting a tax on their profits above a certain point, so the money has already been spent. This is just money that they're taking out of the system."
Later, Roberts brought up the "$36 billion in profits in the first quarter this year" for the five largest oil companies and asked Brownback why they needed the "$17 billion in tax breaks," as quoted above.
Unlike Roberts, who didn’t name any specific oil company in his segment with Brownback, Blitzer continued his obsession with ExxonMobil on "The Situation Room." He named the corporation five times during his interview of Romney, the same number of times he named them during his segment with McCain adviser Carly Fiorina on Tuesday. The CNN host brought up the issue of taxes during the second half of the interview, at the 19 minute mark of the 4 pm Eastern hour of the CNN program: "Obama makes the point that under the new tax cuts that Senator McCain is proposing -- cut corporate tax rates out there, ExxonMobil and some of the other big oil companies, they'd reap a bonanza of additional tax breaks right now. Explain why it's appropriate at this time of rising gas prices, for ExxonMobil, for example, to get additional tax cuts."
After Romney gave the conventional Republican/conservative argument, that "[l]owering taxes adds jobs; it adds businesses; it adds employment," Blitzer brought up how Barack Obama "says there should be a windfall profits tax on ExxonMobil and some of these other big oil companies." He then asked the former Massachusetts governor, "But would it be appropriate, do you think, that Senator McCain should have an exemption for ExxonMobil and other oil companies so they won't benefit from a reduction in overall corporate tax rates?" Romney answered by bringing up how "the people making the big money are Russia and Iran and Venezuela -- the people that have the oil." Blitzer then countered, "But ExxonMobil had huge record profits every quarter in recent years."
—Matthew Balan is a news analyst at the Media Research Center.
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Roll This Back
June 11, 2008 - 19:45 ET by JohanYou have to just love the vocabulary of the Democrats. Raising taxes is called 'Rolling back the Bush tax cuts'. So, the Democrats don't raise taxes, they just 'eliminate a tax cut'. I guess if they go back far enough, they can 'roll back the Lincoln tax cuts'.
The next questions to ask are 1) How does raising taxes, oops, sorry, I mean 'rolling back the Bush tax cuts', find us one more drop of oil, 2) How does 'rolling back the Bush tax cuts' reduce the price we pay at the pump, and 3) How does 'rolling back the Bush tax cuts' feed one hungry child (wait a minute, that ones for a different discussion).
The logical fallacy of the Marxist Democrat ...
June 11, 2008 - 19:59 ET by 10ksnookerEverything has to be a lie, it is a lie, it cannot stand any argument or scrutiny -- The Debate is settled it's time to act. They can only operate in a controlled drive-by media world. The Soviet Union had to take on ever increasingly strict regulation of the media, until finally the State ran it and all stories had to get Politburo approval. The Soviet Union died of millions of paper cuts delivered by fax.
The Democrats need their drive-by parrot as much as the drive-by parrot needs them. Both are deathly threatened by uncontrollable media, like talk radio, TV that doesn't tow the line, blogs and in general the Internet. All must be controlled if the Marxists are to succeed, they know it, that is why the 'fair doctrine' is still held out as hope of control to the Democrat Marxists. Comrade Pelosi has put a hold on the bill so it cannot be debated on the floor.
The drive-by parrot is wheezing badly these days.
They have a good blue print
June 11, 2008 - 20:02 ET by Clear thinkerThey have a good blue print and seem to be using it brilliantly... see link.
http://www.nationmakers.com/com_goals.htm
"Abstain from McCain"
If they can get more tax money
June 11, 2008 - 20:06 ET by bigpapathey can increase entitlement programs and buy more votes.... that the rest of us will pay for. Power is the name of the game. interesting reading here. http://www.floppinga...
Americans ain't buying the BIG OIL Lie, Blitzoid
June 11, 2008 - 20:08 ET by JayTeeCNN and Congress cannot TALK the Price of Oil down...the time for Action is PAST DUE!!!. Talk isn't doing anything but Pissin off Americans who know better than to drink this Cool Aide.
What about BIG Govt. NOT FUNCTIONING Blitzer ?
Just Like Congress, Wolf and company are NOT SMARTER than a 5th GRADER, and pretty soon the 5th Graders will be the only ones watching CNN.
The Republican Revolution will not be Televised
JT... I'm not so sure.
June 11, 2008 - 20:13 ET by Clear thinkerJT...
I'm not so sure. Whenever I hear people on the street talking about BIG OIL, the hatred comes out. I have yet to hear one person (on the street) blame a Democrat or their tree hugging friends. Keep in mind that the majority of Americans still get their news from liberal MSM sources.
"Abstain from McCain"
Big OIL can bring in a well in 30 Days...Drill it. Pump it
June 11, 2008 - 22:43 ET by JayTeeWHen BIG oil was in front of Congress...how come NONE of the Questions concerned how FAST you can DRILL a well and Bring in the Product to Increase the Supply of OIL ?
I know for a Fact it can be done in less than a Month.
As you say Clear, there is a LOT of OIL hating Dems out there, but Like Rush L. said, you ever had a Congressman Fill your Tank ? Or was it EXXON or SHELL that was getting the Gas to your Auto ?
I try and Educate People all the Time....nobody knows what's going on in the Industry...because all the NEWS is about hating Big Oil.
We are now in a Struggle, MSM against Truth, VIDEO news against Radio Talk News, MSM against the BLOGS, NEWSPAPERS against Truth.
I think this is why the MSM has come out promoting Obama and the Democratic platform, they KNOW they have Competition (as Rush says) and they have taken the "govenor" off the MSM BIAS.
Opinions are Rampant on MSM now, but there is no Information, no NEWS. But I DO NOT see them winning on the "NO DRILL" vote.
The Republican Revolution will not be Televised
With this talk of taxing the "Big Oil"
June 11, 2008 - 20:16 ET by FastEdhow come nobody ever calculates the taxes being collected by Big Govt?? Add to that, how stupid are the talking heads (rhetorical ?) when they DON'T realize that the "Tax" will be paid by the people they say are being hurt?
I'd like to see a tax on media stupidity, then we could all have more money to spend. Problem being those in charge wouldn't know how to tax stupid, without taxing themselves.
There is no sense in being stupid, if you can't prove it! - my dad V
Webster’s definition of
June 11, 2008 - 20:15 ET by RMRWebster’s definition of “windfall”: Any unexpected acquisition, gain or stroke of good luck. When we are talking about “oil”, any fair minded person will conclude that the entity that best fit that definition is the Federal Government. Not the oil companies. The only people who are reaping a “windfall,” are the various governmental bodies who are demanding that the oil companies pay them more and more taxes for doing nothing.
RMR... Bingo!! I also
June 11, 2008 - 20:29 ET by bigtimerRMR...
Bingo!!
I also heard Rush yesterday explaining this to his audience.
It was great...so is your post...
"Never murder your opponent when he is committing suicide." ~ W. Wilson
Exactly
June 11, 2008 - 21:35 ET by HypocriteHater"Big Oil" takes all the risk in running a business to bring us gas for our cars and what do they get? They got frog marched in front of congress to be berated by people who produce not one drop of oil for the American people.
Yet none of the dems or the MSM can explain how taxing "windfall profits" is suppose to lower the price of gas. They're simply playing class warfare in order to get democrats elected in November.
Plus the MSM likes to hide the fact that the government takes more than twice as much per gallon of gas in taxes than "Big Oil" makes in profit. And again, the government produces not one drop of oil.
Stop the Insanity!!
What's really crazy is that
June 11, 2008 - 20:59 ET by ckc1227What's really crazy is that dems, who have wanted gas prices to go higher for years and have taken steps to make it happen, are now complaining and demagoguing about high gas prices as they STILL do everything they can to keep prices high, while also guaranteeing they will go higher. And Americans blame "Big oil".
Meanwhile, McCain repeats the same lame line today that he would no more drill in ANWR than he would the Grand Canyon.
Who needs Hollywood when reality is truly stranger than fiction.
Another reason for me to
June 11, 2008 - 21:05 ET by Clear thinkerAnother reason for me to NOT like McCain. If it was me, I would drill in the Grand Canyon.
I would be environmentally responsible and paint the rigs with earth tones so it blended in with the Canyon.
"Abstain from McCain"
Clear, I agree
June 11, 2008 - 21:55 ET by jefflebowskiI would put a oil well on the White House lawn if I was President. It would send the right message to our Saudi "friends."
Isn't is telling (or should be) that the only solution that the DemonRats have for the oil crisis is to raise taxes? We're going to tax our way into lower oil prices.
You could not make this stuff up!
Jeff Lebowski
www.angrywhitedude.c...
No, we are going to tax
June 11, 2008 - 21:59 ET by Clear thinkerNo, we are going to tax ourselves into becoming a third world nation.
Just what the liberals want. How convenient!
"Abstain from McCain"
"Another reason for me to
June 12, 2008 - 12:09 ET by ckc1227"Another reason for me to NOT like McCain. If it was me, I would drill in the Grand Canyon."
As would any responsible leader in the face of an energy crisis that may potentially bring his country to its knees. If I had been the guy asking him the question at the town hall meeting, I would have told him his answer means he isn't qualified to be commander-in-chief of this country.
the government makes %100 windfall profits & we get crappy roads
June 11, 2008 - 21:54 ET by lunaticcringeradioi could care less if the oil companies makes a few paultry billions in profit, first they don't set the price of a barrel of oil, and second they do all the heavy lifting like bringing the oil home, refining it, and distributing it for example. they make a small percentage of profit after all the costs of doing business compared to what the government makes in taxes and what do we get for those taxes we pay, pot-holed streets, restrictive hov lanes, red light cameras, and digging up major roads that were in good shape only to screw them up for years(tucson), and then shortly after completing a repaving of city streets dig them up all over again to bury a 12" diameter pipe in the ground leaving a nice uneven hump right in the lane that catches your tires perfectly to yank your vehicle(phoenix all over) yeah the government is doing that with %100 windfall profits that measures in the trillions compared to the oil companies billions. punish the wasteful useless in the way liberal government not the productive companies.
by the way, has anyone driven through mississippi lately, are the highways still screwed up, because the last time i drove across I-20 through miss it was like someone had cut bowling balls in half and just randomly threw them across the road just in front of the paver truck. or maybe they just have one steamroller truck in the state and it was broke that day.
lunaticcringeradio
Econ 101
June 11, 2008 - 22:18 ET by GrannyGrump42Can't these turkeys grasp that adding an additional charge to something raises the price?
This is the same sort of moronic non-thinking that had journalists of 9-11 asking the Johnstown Regional Airport Manager how many passengers were aboard Flight 93 -- they were too freaking dumb to even realize that there was no way the guy could know that. What were they thinking? How could you tell how many people are aboard a jet liner by watching the radar blip go past on your screen?
I think journalists are liberal because they're so stupid.
Exxon needs to Lobby and Buy themselves a Senator or Two
June 11, 2008 - 22:59 ET by JayTeeYou would think the Dumass Congress people would be receptive to make some BIG money from BIG Oil and open up some Drilling Sites for the Oil guys.
There is a boatload of Campaign Contributions to be made supporting what BIG Oil wants. Are the Environmentalists Richer than BIG OIL ?
Hey, Exxon, All those guy/gals in Congress are FOR SALE to the Environmentalists....Why don't you BUY A SENATOR !!! BUY a CONGRESS Person !!!!
Do something to Produce some Results.
The Republican Revolution will not be Televised
"'But ExxonMobil had huge
June 12, 2008 - 00:36 ET by Schnikeys"'But ExxonMobil had huge record profits every quarter in recent years.'"
Maybe it would behoove Blitzer if he looked it up for himself and found that the profit margins of "big oil" aren't nearly as large as some of the other industries out there.
If you're on the fence and reading this, just remember: the MSM counts on your ignorance.
------------------------------------------------------------
"It could be the answer to our age-old, philosophical question, 'Why are we here?' PLASTIC!"
good point oil companies r very low on the windfall profit scale
June 12, 2008 - 10:02 ET by lunaticcringeradioever seen the profit margin on a can of coke or pepsi, bottled water, a bic lighter, a pencil or pen. the basic formula that the msm will not explain to people because then they would realize they are being lied to by anti-capitalist socialists, is in shorthand it's gross profit on a product minus the cost to produce and sell the product. god forbid the msm would explain that to the ignorant american idol watching public, that just might teach them something that the government schools failed to do, and the last thing liberals want is an informed public.
the msm purposefully wants the public to be ignorant and uninformed therefore their existence would be justified, and the more ignorant and uninformed they are the easier it is for the msm to be used as a tool to sway the dumb public to their agenda. for example check this link to a dumbass. that is so dumb it hurt you the reader to see it. the article asked if NPR should have it's federal funding cut.
http://sayanythingbl...
these are the type of people that the msm relies on to cull like sheep into their own ignorant demise that they were too lazy to see coming. when are conservatives going to plain and simply start their own channel for news, CNN, conservative news network, 24/7 they take the stories that every other "news" agency reports, except the crap about lindsey lohans bra slip or brittanys lack of panties, and point out how they are misguiding the public and detail exactly how and why they are only telling half truths. basically a full blown version of newsbusters but on tv and with a true serious intention to inform and educate and contest the lies of the msm. foxnews was never built exactly for that goal.
lunaticcringeradio
allow me to love
June 12, 2008 - 11:12 ET by JIMMY1660allow me to love America
if and only if Exxon/Mobil took the company off shore, would they pay taxes??
quite a legacy-to chase off shore a big tax payer!!!
ms polosi harped at haliburton, till their president said we are off to Dubai-no harsh words from her since-funny, but not haha!!!
Hypocrisy
June 12, 2008 - 11:30 ET by TheInformer"Explain why it's appropriate at this time of rising gas prices, for ExxonMobil, for example, to get additional tax cuts."
Maybe the Hollywoodites should be asked to explain why it's ok to fly around in their personal jets and drive their luxury cars, when they are spokespeople for conservation, non-polution, and reducing the carbon footprint.
An interesting poll
June 12, 2008 - 11:52 ET by Hero SquadAn interesting poll question might be: What do you think is the biggest contributor to runaway high gas prices?
__ Big Oil Companies
__ Environmental Restrictions on Oil Exploration
__ Market Speculators
__ OPEC Quota Limitations
__ SUV Owners
__ George W. Bush
*****
"People only insist that a debate stop when they are afraid of what might be learned if it continues." - George Will
I Vote For.....
June 12, 2008 - 12:18 ET by HawgdrvrEnvironmental Restrictions on Oil Exploration
I'm convinced that all the Lib tree-huggers hate this country and all it stands for. They love the misery they cause the average American. They'll be happiest when humanity is gone and it's all left to the plants and animals.
Drill, Drill, Drill