If you tax more of something (oil), you will get less of it (oil).
At a time when oil supplies are low and prices are high, the economically retarded Democrat Party consistently votes against any attempt at increasing oil supply, building new refineries, etc. Similarly, Barack Obama would tax oil companies.
Why? All successful private entities (Microsoft) are consistently (Walmart) detested by liberals (Haliburton) as is any accumulation of wealth (unless it’s government controlled). This is Obama’s chance to not only appear like he’s sticking it to the Big Bad Oil Companies (that’ll make everyone feel good, won’t it?) but also is the latest governmental excuse to steal from Joe to give to John.
Obama says he would impose oil windfall profits tax
Democratic presidential candidate Barack Obama said on Monday he would impose a windfall profits tax on U.S. oil companies as he sought political gain from Americans’ pain over high gasoline prices.
Launching a two-week focus on the economy after clinching the Democratic presidential nomination, Obama drew a sharp contrast between his economic policies and those of John McCain, his Republican rival in the November election.
“I’ll make oil companies like Exxon pay a tax on their windfall profits, and we’ll use the money to help families pay for their skyrocketing energy costs and other bills,” the Illinois senator said.
Senator Obama:
1. OIL COMPANIES EARNED THEIR MONEY; YOU DID NOT;
2. YOU ARE NOT ENTITLED TO STEAL ANYONE’S PROFITS OR DETERMINE WHAT PEOPLE DO WITH THEIR TIME AND LABOR;
3. YOU ARE NOT ENTITLED TO TAKE FROM SOME TO GIVE TO OTHERS.
The irony in all this? Obama’s Marxist meddling would not produce a drop of oil at a time when we desperately need increased production.
Filed under: Barack Obama / The Messiah, Crazy liberals , Barack Obama / The Messiah, Crazy liberals, oil companies, taxes
