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Look, it's hard to change constitution, but even harder to understand and change entire web of precedence, despite people in Croatia changing the constitution to define marriage as men and a woman, people distrusting the government means that even if you get a better system, they don't profit from it, because they don'... |
</poi> |
Okay, but they don't distrust it right now, when something that they deem as their individual right is not within the Constitution, and if you actively annihilated and disregarded from society in a way that doesn't allow them to access the good of life that you suppose. Now let's deal with specific instances. One they ... |
</gw> |
<ow> |
throughout the entirety of the Second World War, and like the Nazi regime in Germany, the Constitution that was officially in for in power was the constitution of the Weimar Republic that gave like legal protections such as freedom of speech and association. Obviously those were not followed in that time period. What i... |
<poi> |
Yeah, under rubbish. It was struck down because my new constitutional texture was details. This seems to prove our point that instead, it should be endorsing general societal rights. We understand that abortion is okay. This constitution can't protect these things. |
</poi> |
I'm completely unsure why. Like six Republican justices, they're all voted for striking down Roe versus Wade would rule in favor of abortion near side a house near never explained why they would all right. Moving on to closing government. Closing government. Tell me that laws should reflect morality of society. Laws th... |
</ow> |
<pm> |
We are currently living in unprecedented economic times where despite a crippling war and a brutal pandemic, energy companies have emerged victorious. Opening government is going to wrap it for this and make the world more fair. I was, I'm going to start by describing what these policies look like and then talk about t... |
We support the continuation of that trend. First claim: why is more money a force for good? I want to characterize why there's just a lot more money going to governments rather than just a small piece of cake. The first reason for this is that we have to acknowledge the mass amounts of profits that were made during the... |
Maybe that only a minor increase in taxation results in a cumulatively large amount of money given the sheer power of these companies. Why are these policies good? Firstly, on a humanitarian level, it is very important to recognize the context which the currency of taxation is existing under. Governments are incredibly... |
There are two observations: the first that governments need more cash in order to support their social safety nets, spending more money on the welfare state, the fact that small businesses still have lingering harms from the pandemic, and they're going to need increased degrees of support. But secondly, about lowering ... |
I want to note here that the redistributions are only utilitarianly practical, but it's also a moral necessity as well. I want to note that we don't think energy companies have any more claim to wealth that was that was accrued during arbitrary circumstances than more than the average citizen does within these contexts... |
So governments are basically having price caps and having lower degrees of energy that are funded by these schemes, and the unique ability to sustain these schemes comes from energy taxes. This is for two reasons: firstly, all of the framing about fiscal stress that I explained to you earlier means governments don't ha... |
Secondly, it's essential for businesses as well to use energy within their own production, paying therefore it can produce cheaper goods. But thirdly, most importantly, this is about sustained political will for sanctions and harsh measures against Russia. The world is currently standing behind Ukraine, but eventually,... |
For a given, per second argument about diversification, i will take that |
<poi> |
look, we're obviously not going to argue that it's great to produce companies to profit as much as they can. What we are going to argue is that this is not the best way to stop the profits, which by the way push inflation even higher. The more you legitimize them raising their product, |
</poi> |
like how else do you stop profits? By taxing them. And if you're going to argue that there are other ways to stop profits, that literally looks like you were debating for proposition motion. This is direct, it is targeted, and it harms companies who are profiting the most. How do we get diversification? The first every... |
The first trivial observation here is only a windfall tax on companies that are already profiting. We are taxing their profits; we are not taxing their revenues. Energy companies are financially strength, are not going to be subject toward a policy. But more than that, energy companies have large capital reserves. The ... |
A lot of people higher incentive 200 or something of a house. This is for two structural reasons: firstly, we are shifting the relative profitability of different types of energy that companies are existing in. We can see that companies probably have a long run incentive to move into green energy regardless. This is no... |
Our second mechanism is, well, they get more diversification is that state regulation of companies becomes easier. No other has to be effectively create more competitive energy sectors to get larger companies who are the ones generating windfall profits, and they're going to be asymmetrically subjected to increased lev... |
</pm> |
<lo> |
I want to quickly note that these oil companies and gas companies aren't just money widgets, right? They don't sit on their money. I think probably what you do with this money, like any other corporation, they probably redistribute in some form. That's to say dividends, payouts through stocks, all these sort of things ... |
What do I think that's important? Because I think when you have made a significant choice to invest your own capital when there are massive amounts of risk at the outlet, right? I think you deserve to have a privileged level of wealth at the end of it. What do I mean by this? Let's say you're an average individual, rig... |
Broadly, I think you have to accept from a certain level of person. I think in this way we can't distinguish between different levels, like different people, not just because they have different worths, but rather because they take on different levels of risk, different levels of investment. I think basically, like if ... |
The thing is, I think that in order to explore a new oil field or a new gas field, you need massive levels of potential return in order to make that worth your while, right? I think Naomi themselves say that it's a really, really high risk for companies to do this, and therefore you need to incentivize them with large ... |
No thank you. All over the price. But secondly, though, right? Also note that like you have people just like really need energy right now. I think it's a good thing to be able to offer them more of a good that, like when people cannot heat their homes in the UK or in certain parts of the US, I think it's a really, real... |
We're moving on. I'll take closing of the house. |
<poi> |
The vast majority of these rainfall taxes do not apply to renewables. In the long run, people get cheaper energy that also doesn't kill the planet. |
</poi> |
Okay, so I'm not—I’ll talk about renewables, my third argument, but basically, actually, I'll talk about my third argument. I'll plug that when I get to it. Awesome. Second argument on why I think governments are probably going to be pretty bad at spending this money and why if that's the counter fact that OG wants to ... |
I think that you, as a politician, are that intelligent, intelligently want to use off the money that you prove through this windfall tax on spending on these, like, arbitrary popular houses. Like, if you want to use all these analyses here, I think people deserve equal work, right? I think they deserve equal loss of m... |
Also note that because this is a particularly too much experience, I don't think there's a lot of government oversight right now, right? Especially because these are like quite opaque measures, like where you like do individual levels of government spending doesn't have a lot of oversight tracks. No one's looking where... |
What that means is, um, like on the comparative basically, right? Because obviously they can say, "Ah, but we don't turn the money in any good ways." Look, worldly, as I said earlier, this profit isn't just sitting in some bank account, right? It goes to people through dividends; it goes to people who stockholding; it ... |
Moving on to my third argument, What profits are broadly helpful to people. I think this broadly like cautions exactly with what Naomi was saying. First argument here on like stabilizing portfolios. Because I think oil and gas is obviously like a really, really major resource that people tend to think is stable, tend t... |
Also note that big clothing market is so volatile at this point. If you impose a windfall tax and if you continue building with both houses, I think that has like an outsized arm on like stock prices, right? Because people are panicking. That's going to cause like an overly sensitive decrease in like the price of stock... |
They're quite significant startup costs and require significant returns on risk, right? So, and then on our side, we get better levels of innovation by the companies who are uniquely qualified to do so. For all these reasons, so proud to oppose. |
</lo> |
<dpm> |
If this—why is this policy justified—which seems to be part of the pack we get from opening opposition? I would note several things. This thing would have claimed this acceptable volatility in prices. I just don't think this is true because it doesn't understand how energy companies actually operate. What would you do ... |
In other words, what they are doing is that even in periods of low profitability or low prices, they are manipulating the market in order to ensure that they maintain the restore balance of profit and Just use the tuition club. That is exactly what OPEC or OPEC plus does. That isn't an energy company they say, but the ... |
Thirdly, these are the companies which particularly don't deserve it because of the externalities of their behavior—someone to talk about later, some of the highlights, for instance, the pollution caused by the kinds of actions which are at places right now. If this is a reciprocal obligation, man, and we allowed to ta... |
Secondly, where does the money go? Now, we told you the money could be used in lots of areas, but what specific area? Well, lots of this money was used for—and I sort of gave you a little bit of a memory jog about a year ago—what was happening? Why did we introduce these caps? Why do we introduce these new taxes? It's ... |
The analysis the other side gives us convinces beyond just look, both a vote, you want to support your constituency. I think you probably also will get support from everyone, and those people in the middle and your constituency will care that energy price caps—and they say governments are short-term. Okay, if that is t... |
And let me just express the importance of this stuff that they didn't even decide to mention or engage with, which is it wasn't just beneficial because that helps consumers, but the impact of that was literally support for Ukraine and swore against Russia. It significantly impacts the ability and willingness of Europea... |
The final claim I would define the Political Banks, what happens in the law cap and there is two claims from the opposition here But this claim is we need these companies to make a huge amount of money so that they can get more oil or have more uh drill for more oil or gas. I don't think we actually want that, but ther... |
The stronger claim on this, which we've already talked about, is the impact of green tech and the changing incentives which companies actually face. There are a couple of things which we noted on this. Why once the logical change in incentives here? We know that you now have a greater risk of taxes; the money you're ge... |
So as a result, you have tax incentives or reduced tax rates for real gains. Why does that matter? One, because these companies already have money that can invest more. But secondly, marginal change in the potential profitability of oil investment or gas investment versus green tech investment is significantly differen... |
It is—that is a huge benefit. It makes it easier to put these kinds of policies in place without the barriers which will otherwise exist. At the end of this debate, this is a justified policy. The money helps individuals and in particular can help improve continuous support for Russia. And the long term this is benefic... |
</dpm> |
<dlo> |
To be clear, with the comparison of this debate, opposition believes that if you put the money in the coffers of the government, it may be used to help a cost of living crisis. Indeed, Drew and I will say some of that money will go to solving that cost of living crisis. The critical distinction on comparative is how mu... |
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