Time For Windfall Taxes On Time-Warner

The profits of oil companies has been the major news for several weeks as people are led to believe that because oil companies have record profits they must be gouging. They are having records compared to their past but they are only in the 6-11% range. Still, idiots like Dick Turban can not see this and when he speaks he only spouts the raw dollar figure which is misleading considering how much gas the oil companies sell. They only make 8 cents a gallon profit while the government makes 3 to 4 times that in taxes. Turban and the rest of the idiots in Congress always fail to mention that when they speak of the evil oil companies.

I think it is time for Congress to get involved in Time Warner. That company had a 60% increase in its first quarter profits.

Profit at the New York-based media conglomerate jumped nearly 60 percent to $1.46 billion, or 32 cents a share, in the January-March period from $915 million, or 19 cents per share a year ago, as revenues rose 1 percent to $10.46 billion. Time Warner’s properties include Warner Bros., Time Inc., CNN and HBO.

They need to be investigated for gouging. I pay too much for my cable TV and Internet and HBO is too high as well. I think that the company is trying to gouge me and we need to impose windfall profit taxes on them. If they are making this much profit they are obviously gouging someone.

In a related story, Clear Channel indicated that its profits had DOUBLED in the first quarter of this year. They own the most radio stations and they must be gouging people who advertise. Since companies pass advertisement costs on tot he consumer, I am paying more for products because Clear Channel is gouging the companies that advertise with them. Congress has its work cut out with all these companies gouging consumers.

Source 1: Access North GA

Source 2: Access North GA (2)



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