What Should Be The Tax Rate On War Profits?

[ThomWV]

Consider this, Exxon has its highest earnings ever, quarter after quarter after quarter. Our military, fully engaged in war, and the Air Force in particular, is our nations largest user of oil. It follows then that a great portion of Exxon's profit results from sales in support of our war.

So, what should be the tax rate on war profits? Should tax credits and rebates be given to war profiteers? Is paying the highest profits in the history of the world a proper use of our tax dollars?

[hobbit709]

1. 110% sounds about right to me.

[Ganja Ninja]

3. I'd go for 200%. n/t

[Earth_First]

2. Rebuilding the ENTIRE infrastructure that was destroyed as a result of their profiteering.

p.s. They STILL end up profiting.

[izquierdista]

4. All but $1

For a long time, the DuPont company ran the Savannah River Site for the Atomic Energy Commission for one dollar above costs. They considered it their patriotic duty. Of course, had they intended to make a profit on it, Truman might have seen to it that they never got the contract for it. He didn't have much fondness for war profiteers.

[ThomWV]

5. How much did Westinghouse get after DuPont left?

[izquierdista]

6. Standard cost plus fixed fee

Fixed fee in the millions on approx. $1 billion contract. Leave it to the government to negotiate a worse deal for themselves.

[ThomWV]

8. That was until the magic "Incentive Fee" system was put in place

Another fleecing.

[hootinholler]

7. More and omre I've thought that goods sold to the US Government should be at cost.

Not cost plus, but cost. Has something to do with a strange notion o mine that corporations should be patriotic also.

Out Military and Civil Service are underpaid compared to the private sector.

-Hoot

[izquierdista]

9. I'll go one step further

Nationalize the "defense" industry. Don't award a single contract and have everyone working on tanks, planes, bombs, and nuclear weapons work directly for the government. It wouldn't change things one bit, not in the rank and file anyway. They know who pays their salary -- Uncle Sam. It's just a different bozo named HalliburtonBechtelRaytheonFluor who shows up at contract time to sop up all the gravy.

[leftofthedial]

10. oil, defense, health care, utilities, transportation . . .

ALL strategic resources and social services should be nationalized and socialized.

[fed-up]

11. tax should be lifetime JAIL for ALL War Profiteers nt