06 Nov
Posted by MacRanger as Uncategorized
It’s here and funny how it contains much more than he revealed in during the campaign. He’s actually asking for people to write in their suggestions on how to fix “things”.
“It’s Your America: Share Your Ideas
The story of the campaign and this historic moment has been your story. Share your story and your ideas, and be part of bringing positive lasting change to this country.”
Go ahead, make a suggestion….
More to the title here are some of the Obama/Biden “changes” planned.
“Enact a Windfall Profits Tax to Provide a $1,000 Emergency Energy Rebate to American Families:
Barack Obama and Joe Biden will enact a windfall profits tax on excessive oil company profits to give American families an immediate $1,000 emergency energy rebate to help families pay rising bills. This relief would be a down payment on the Obama-Biden long-term plan to provide middle-class families with at least $1,000 per year in permanent tax relief.”
The non-profit Tax Foundation called this folly:
“The oil companies have reaped a lot of gain from the recent rise in oil prices. There is no disputing that. And a windfall profits tax in the short-run would do little to change the price of gasoline, and would push money into government’s coffers. However, in the long-run, by telling the oil companies that if they have higher than average profits in any given period they will be taxed extra on those profits, then that tax affects business investment for the future. That, in turn, lowers investment in oil, raising the price at the pump, lowering wages, and lowering returns to investors.
The fact of the matter is that Obama would be more accurate if he said that his foreign policy would help lower gas prices given that recent tensions in the Middle East have played a larger role in raising the price. Unfortunately, Obama is merely engaging in nonsensical political rhetoric by targeting the current outcomes of the energy markets instead of the underlying causes.”
2 Responses
Fred Fry
November 7th, 2008 at 2:41 am
1Too bad that nobody ever challenged Obama or any Democrat on the simple fact that American citizens own that ‘evil’ ExxonMobil corporation. And if this company is such a money machine (as it is at the moment) then they should encourage their followers to buy-in which they can easily do @ $50 a month.
But no, that might make those democrats a little less dependant on the Government!
Marilyn
November 7th, 2008 at 2:37 pm
2Back n the 197o’s when Carter enacted the first windfall profit tax, it caused oil companies to cap domestic producing wells and to stop drilling in this country because only the profits on oil produced and sold inside the US was subject to the tax. The oil companies could keep the profits on oil sold overseas and imported oil. It was only oil produced and sold inside the US that was subject to the tax. As a result, producing oil wells were capped so the oil culd be saved for future untaxed profits and when the Alaska oil came on line, it was sold to Japan and oil from the Middle East was imported to replace it. That windfall profit tax was supposed to be given to “Poor people to pay their heating bills.” When the tax expired, the subsidy for heating continued. So now, Obama thinks he can outwit the oil co. ex’s and collect enough money to give everybody a $1000 rebate. He is living in a dream world. The oil men are too smart to let hm pick their pocket like that. The most likely outcome will for all our oil companies to move their headquarters overseas to a tax haven.
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