Sen. Lieberman, Terrorism Tax
 

US should weigh war on terrorism tax - Lieberman
06 Feb 2007 18:23:45 GMT
Source: Reuters
WASHINGTON, Feb 6 (Reuters) - Sen. Joseph Lieberman said on Tuesday that Congress should consider a tax to fund the U.S.-declared war on terrorism and reduce the need to cut domestic programs to pay for security spending.
A former Democrat who supports the Iraq war and backs President George W. Bush's plan to send 21,500 additional troops to Iraq, Lieberman said the proposed increase in the Pentagon's budget for next fiscal year will squeeze funding for critical domestic programs.
"I think we have to start thinking about a war on terrorism tax," the independent Connecticut lawmaker said. "I mean people keep saying we're not asking a sacrifice of anybody but our military in this war and some civilians who are working on it."
"When you put together the (Pentagon) budget and the Homeland Security budgets, we need to ask people to help us in a way that they know when they pay more it will go for their security," he said during a Senate panel hearing on the defense budget request.
Bush on Monday asked Congress to approve $700 billion in new military spending and to curb many domestic programs. The request includes $245 billion for the Iraq and Afghanistan wars between now and late 2008.
If Congress approves the war funding, the United States will have spent $661.9 billion on combat in Iraq, Afghanistan and related activities.

Increased defense spending since 2001 has come amid tax cuts that the Bush administration says were critical to keeping the U.S. economy strong after the Sept. 11 attacks.

the tax should properly be leveed on the big defense and oil contractors since they are getting rich on the war.

the rest of us are already paying for it.

tom w

If you tax an oil company, who do you think will pay that tax?

B

Lieberman -- the best of both worlds. :rolleyes:

;) I dunno becuase bush sets the price on gasoline right?;)

the cigarette companies.

For some reason I smell the specious hand of Israel.......

If you don't tax an oil company, they enjoy free market security and do not pay for benefits they receive.

Non-answer to an unasked question.

It's really simple: Who pays the tax on oil?

B

The guy at the pump naturally. Who else?

For 2005, per Exxon's 10K filing with the SEC, income tax expense was 23 billion, excise taxes 31 billion and other taxes another 44 billion. Total taxes 98billion dollars worldwide.

Still, net income was 36 billion, operating cash flow was on the order of 48 billion, 7 billion was paid in dividends and another 13 billion in common stock repurchases. Cash increased to the tune of 10 billion or so from the previous year.. And 2006 will be a better year yet.:)

Corporate income tax guys? Windfall profits tax, Madame Speaker? Cut the B/S..
Another consumer tax. :rolleyes:
Taxes, like you-know-what-else, always roll downhill.:mad:

By comparison Wal Mart paid a mere 7 billion in income taxes last year.