Gas prices

[Lurker Deluxe]

19. They pay taxes

Maybe not as much as they should, but they do not make the tax laws.

I own XOM stock and get their annual reports. They are available online at their website.

Last 3, in millions

2021 - $23,598
2020 - -$23,251 ... pretty solid loss right there
2019 - $14,774

2022 - est $26,000

XOM operates, in general, around 9% EBITA. Apple ... 24%.

I am not sure how you tax a "windfall" for 4/5 companies who are not making excessive profits as compared to other multinational monsters.

So ... you tax them, hard. If you do not initiate price controls that cost get passed on, with a markup, straight to the consumer. Price controls lead to shortages, shortages lead to higher prices. Let's say that does not happen, the tax is not going to lower prices just higher tax revenue. You think what? The Fed is going to refund it to us? If they were going to do that why are not they already refunding their $0.50 now?

If the goal is to lower prices higher costs are not the answer. If the goal is to punish them, get on with it and tax them right the hell out of the US. Make no mistake that they have plans to deal with whatever the US gov does.