Did I hear that correctly from him today? Did he not say that he wants to "tax windfall profits on big oil corporations like Exxon?" Excuse me, but, I thought this guy was supposed to be educated? Isn't he a lawyer or something? Surely he took a business or economics class while he was in college!
You can't tax profits! Profits is what comes AFTER taxes. If you try to tax "profits" it just goes back in to the corporate expenses - which get passed on to the consumer! So..here we are paying $4.02 as a national average for ONE freakin' gallon of gas - expected to get to $4.50 by July and this dipshit is proposing taxing oil even further?
So - the government taxes every gallon of gas at a rate of 16% and the big oil companies make a profit of 4% off of every gallon. So - the government makes 4 times the amount the big oil companies make - and they waste every penny of it on earmarks, failed social programs, and big government bureaucracy - yet they want to tax big oil? Who the hell is he kidding?
The next time the media and the government start complaining about these so-called "gross" profits made by the big oil companies - just remember - multiply that by 4 and you see how much the government takes in for doing nothing! Obama says he's going to take the "windfall profit tax" and give it to those "who can't afford their energy bills." Sounds like a socialist system of wealth redistribution to me!
Well - gee - who's fault is it those people can't afford their energy bills? Could it be....the government? Afterall, isn't it the government who has put up all the roadblocks to drilling and tapping our own natural resources? We have enough natural gas and coal in our country to warm 30 million homes for 60 years - yet - because of government regulation and stonewalling - we aren't allowed to tap in to it. We have enough oil reserves in our country to fuel every single vehicle in this country for 60 years - yet - because of government regulation and bans and kowtowing to eco-terrorists - we can't even tap in to it! We aren't even allowed to drill off the coast anywhere in our country - yet - China is scheduled to begin drilling 70 miles off the coast of Florida within the year! There currently is a bill being pushed through that would ban American companies from drilling within 125 miles off the coast.
So - if that bill gets passed - then a foreign country is allowed to drill for oil off our coast where we are not allowed to?!?!? How freakin' crazy is that! 125 miles is in international waters - hell - anything past 7 miles is considered international waters. How the hell does the government expect to impose this 125 mile ban?
If Obama gets elected and has his way - just remember people - you asked for it and you will most definitely PAY for it!
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