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Robin Hussein Hood
Posted by Duncan on August 1st, 2008
Wealth redistribution. What a nice Marxist attitude you have there Barack…
From BHO’s Emergency Economic Plan (link above):
Barack Obama believes that, over the long term, middle class families need permanent tax relief, which is why he has proposed a new “Making Work Pay” tax credit of up to $1,000 for working
families. However, Obama recognizes that the skyrocketing price of energy is taking a heavy toll
on families right now. To address the squeeze on families today, Obama is calling for emergency
energy rebate checks of $500 per worker and $1,000 per family. These rebates would be fasttracked
to get out to families as soon as this fall, so they don’t have to wait until next tax season
for relief. They would help families offset the cost of filling up their gas tanks and heating their
homes this winter. And the more that families make choices to be energy efficient, the further
their $1,000 rebate checks will go.
Let’s not call it the “Making Work Pay” tax credit, lets call it “Making the Oil Companies Pay” tax credit. And he wants to do it NOW! I am not too worried that it will happen this year, because the Republicans still hold enough seats in Congress and the White House, until after the election anyways, to prevent the Communist Manifesto from replacing the U.S. Constitution.
As we help to reduce the burden of rising energy prices, Barack Obama believes it is important not to abandon our commitment to long-term fiscal discipline. That is why he is proposing to
offset the cost of his emergency energy rebates over the next five years by enacting a windfall
profits tax on big oil companies.
Oh no, because we know Washington D.C. is SOOOOOOO concerned with long-term fiscal discipline. And instead of helping Americans by reducing worthless spending on pet projects, earmarks, and pork, he’ll just tax the EVIL OIL COMPANIES™. And here is why :
While oil companies and shareholders need incentives to run well managed businesses that invest in efficiency and innovation, a significant share of the record profits the big oil companies have been making have nothing to do with their management skill. It is the result of changes in the price of oil because of factors like supplies in the Middle East, demand in Asia, and disruptions and distortions in the oil market.
Yep. You read that right folks, those oil companies (and their share holders, which probably is many Americans because they’re invested in the IRAs, Mutual Funds, and 401Ks) have done nothing but been in business. They are not benefiting because of their hard work or “management skills”. They’re just making record profits by sucking the life blood out of the American Children™. And making these profits is just EVVVIIIIIIILLLLLL. And the Lord Barack Obama asks only one thing:
Obama simply asks that big oil companies contribute a reasonable share of the windfall profits they receive from high oil prices over the next five years to pay for emergency assistance for families right now. This will help families today and give our economy a shot in the arm, while helping restore fiscal responsibility over the first term of an Obama presidency.
Yeah. I am sure Obama is simply “asking” and going to make this a volunteer only option for the petroleum industry. And ofcourse, the gas tax holiday isn’t an option. The hypocrisy of Obama is blinding. The federal government makes a higher profit of their gas taxes than the oil companies net per gallon, and the feds do ABSOLUTELY NOTHING to earn this profit. They take no chances and invest nothing, but they are guaranteed a return, unlike the oil companies, who are in business to make a profit (and also take the chance to lose big). Politicians demonizing an industry for making “windfall profits” while making larger profits than said companies, that is obscene, not the oil companies benefiting from the current oil situation the world is facing.
And ofcourse, BHO doesn’t want us to drill, because its effects are not IMMEDIATE, or atleast not immediate enough in order to guarantee that votes can be gained for this election cycle.
McCain’s drilling proposal would give oil companies a new way to make profits without
having any meaningful impact on the price of oil. According to the Department of
Energy, we wouldn’t see a drop of oil from new offshore drilling for seven years, and the
effect on oil prices would be “insignificant.”9 Even McCain admits that we wouldn’t “see
an immediate relief” from drilling.10Obama’s emergency rebate plan is designed to help struggling families today while laying the
groundwork for his long-term energy plan, which invests $150 billion per year in developing
renewable technologies, encouraging energy efficiency and catalyzing the next generation of
clean vehicles to end our dependence on foreign oil and create up to 5 million new jobs.
Invest 150 billion in wind and solar power? They’ll never provide enough to satisfy our country’s energy needs. Encouraging energy efficiency? How? By making us use CFLs, which contain mercury and will probably end up poisoning our water supply as they collect, and break, in landfills. And clean vehicles? The market will take care of that. Look at SUV and truck sales. Our private companies are evolving to create vehicles that people will buy that are more fuel efficient. And it doesn’t take the Lord Obama to decree that it should and shall be done, thus saith the Obamessiah. It is either create the product, or let someone else create it to fill the need and you go out of business.
Its truly scary to see how our politicians can suddenly make the decision that because you are making “record profits”, that now you have made a “windfall profit” and it is time for Uncle Sam to come in and take it from you. If the oil companies were doing something illegal, than ofcourse we wouldn’t be having this discussion. But they’re not. And yet our Democrat party insists that it is better “to rob peter to pay paul” so that they can have the support of paul. This is not a road we want to go down. When the government starts coming in and stealing profits in the name of “society”, we are no longer teetering on the edge of communism, we’ve tipped over the edge….
Check out the linkfest over at The Pirate’s Cove.
UPDATE: Ed Morrissey over at Hot Air and I are thinking alike concerning this. He also has this graph showing the last time a Windfall Profits Tax was attempted, by the ever-so-successful Carter Administration:
What? It didn’t work? A Carter policy FAILED?!?! Say it aint so!
Note the use of the word “Emergency” carefully. Democrats in Congress don’t consider fuel prices an emergency; they just skedaddled for the summer without bothering to debate drilling. However, it makes for a nice title for those who want to take drastic action, such as nationalizing industries or slapping on huge new regulatory and tax burdens on the private sector. The desired result: making us a dependent class on the government and undermining investors.
What ever increases the power of the federal government is good for the Democrats…
August 1st, 2008 at 2:27 pm
Government ideas are getting worse from both sides (Nanny State alert… http://news.cnet.com/8301-13578_3-10004646-38.html)
August 1st, 2008 at 4:19 pm
I’ve linked to your post from Jeremiah Films: Looking at Obama’s doctrine of taking from the rich
August 1st, 2008 at 6:40 pm
Lil’ Wayne,
You ever been in the soft core porn business? I see you make movies and my buddy Phil Gramm is looking to put something together, if you know what I mean. Holla back- Phil and Wendy gots money to burn.
Your Friend,
Bunny Colvin
August 2nd, 2008 at 8:23 am
It’s consistent with the rest of Obama’s approach to governance. Obama is a true socialist; he doesn’t believe in rights of the classical variety. His call is for a right to equal outcomes, which goes against every requirement of a free society.
But I’d bet the ranch that he doesn’t really believe in that, either. His sole sincere allegiance is to himself: increased prestige, power, and perquisites for Barack Hussein Obama, and damned be he who gets in his way.
August 2nd, 2008 at 8:41 am
Because so many Americans are looking to the government to solve various problems – including that of rising energy costs – Obama’s plan is going to be attractive.
America, I hardly knew ye! I dread to think what America will be like in a few short years.
August 2nd, 2008 at 3:00 pm
“Because so many Americans are looking to the government to solve various problems – including that of rising energy costs – Obama’s plan is going to be attractive.”
Hew ya figgr gunna solve dat enrgie prollem, Cheap Watch? Them oil cumpnies? Dey da ones makin all da munnie. I ain’t understandin ye.
“America, I hardly knew ye! I dread to think what America will be like in a few short years.”
I’ll give it to you how you yourself in all likelihood would say to me….”Love it or leave it.”…”There’s a long line to get in, no line to get out.”….”Don’t like it? Leave!”….blah blah blah
PEACE
August 3rd, 2008 at 1:05 am
Hey Frankie Pimento-
That ranch yer bettin come with running water?
PEACE
August 3rd, 2008 at 10:39 am
Lord Darth Obama.
August 4th, 2008 at 11:46 am
Actually Buns unlike you limp dicked liberals, I will stay in my country if the ONE is elected.
I love my country and wouldn’t leave it because of that. No way. Someone has to stay to defend her when the shit hits. It sure as hell won’t be limp dicks such as yourself.
August 4th, 2008 at 2:48 pm
Lemme see if I have this right….
BHO’s plan is to take from the oil companies profits and give us $500 each to “soften” the blow. Do you think the oil companies are going to “voluntarily” give up profit? Do you think they wouldn’t jack-up the price more to recoup the loss? How far would $500 get ya in heating and driving costs? Not far. All while the government continue to get 100% profit in gas tax…50% of gas companies earnings…and never take a decrease and not doing anything to earn it.
So, it’s okay to take money from companies…just as long as the do-nothing government doesn’t lose any of their money, right? BHO won’t suspend the gas tax we have…the Dems even wanted to increase it when the price began to fall. And, do you think oil companies would keep doing business here if they weren’t allowed to make money? This country would grind to a halt.
And since BHO could never get the oil companies to “voluntarily” give up profits…his plan is absolutely useless!!!!!!
This guy brings ethnicity into an election, takes credit for legislation that isn’t his, misleads the people about Banking Committees and the Pentagon declining his visit to troops, tells the US people that he’ll pull out of NAFTA, then double-speaks with our foreign ally, Canada, saying “it’s just for votes…don’t worry about it”. He’s using Carter’s failed policies and quotes about tire-pressure, has no military experience, a thin resume’ and a socialist agenda.
August 6th, 2008 at 1:42 pm
I have one question for anyone wanting the government to “stick it to the oil man”: what’s stopping the government from sticking it to YOU? Ma and Paw Record company (fictional) made an extra $15,000 this year. Uh oh, that constitutes “windfall profits” so the owners must be punished. We all know the price of music CD’s increased, that makes Ma & Paw company inherently evil (and has nothing to do with economics 101). During summer, I’m sure Blue Bell ice cream corporation generates more profits than during winter. Let’s tax them out the kazoo. That’ll show them to make a profit. Hypocrisy is rampant among the liberal bloc.
Here’s something interesting. Once President Bush lifted the executive off-shore oil ban, the price at the pump IMMEDIATELY DROPPED. Not one extra drop of oil was drilled nor refined. Yet, the price softened. Now, us poor ‘o hicks from the sticks are waiting on liberals in Congress to stop blocking efforts and remove the Congressional ban. I wonder what would happen to the price of oil then? Hmmmm…maybe it would lower more b/c that would threaten OPEC’s oil monopoly market? Then, maybe, just maybe, if an abundant amount of U.S. oil can be tapped and refined, the price would lower even more ($2/gallon anyone?)
However, I’m using basic economics (supply & demand) combined with common sense, so it probably wouldn’t work. Lets keep trying the tried-and-failed Democrat policies…one day it will work! Right?
Liberals and alchemists have much in common. Both push for failed ideas and both are extremely knowledgeable of flawed information.
As Will Smith once said in a movie, a liberal is “…the dumbest smart person alive.”
August 6th, 2008 at 5:18 pm
Erick:
Here’s an interesting link regarding “windfall profits” and companies.
What Is a ‘Windfall’ Profit?
Good read! Enjoy!
August 6th, 2008 at 7:17 pm
“This guy brings ethnicity into an election”
What nerve! He should have painted himself white, I guess.
August 7th, 2008 at 11:14 am
Great piece, thanks for sharing Chris. It articulated what I was trying to get across. That will be linked to my website soon.
Obama should have a “windfall profit tax” on his salary. He escalated from a nobody to a U.S. Senator way too quickly, and that dramatic increase in pay was too much. A 40 percent windfall profit tax on him should suffice (for now).
August 7th, 2008 at 6:17 pm
Good thinkin’ Ericka!
Obama Senate Salary- $158,100
Average 2005 Compensation of CEOs of top 15 U.S. Oil Companies- $32,700,000
Lets tax Obama. He’s the one makin’ all the money!
PEACE
August 7th, 2008 at 6:46 pm
That’s right Bunny. Let’s redistribute the wealth from CEOs whose companies produce a product and $$$ for America, and pretty much ignore Obama, who doesn’t produce jack-squat.
How ’bout we not tax ANYBODY’s income, and instead institute a consumption tax instead? Ohhh but we can’t do that… it’ll take the ability of the government to invade their citizen’s lives and tax every stinkin’ thing.
August 7th, 2008 at 7:15 pm
And let’s tax the myriad of other companies who make much higher profit margins than oil? I mean, I think Google has something like a 25% profit margin, and the EVIL Exxon/Mobil has a 10 PERCENT profit margin. I am all for a windfall profits tax on Google… NOW! And we can give me 1000 dollars from them to buy a new computer…
Ofcourse, this isn’t about profit margins.. its about how much actual dollars are made. Class warfare at its finest from the leftists in our midst. Rob Peter. Pay Paul. Get the Support of Paul everytime.
August 8th, 2008 at 11:11 am
Duncan, you mentioned a consumption tax. Very interesting. I’m completely ignorant about that kind of tax system. Will need to research that, thanks for the info.
For now, a flat tax seems to work well (to me). It’s much more fair to everyone rich or poor, and the government still gets a large slice of the pie from the wealthy class b/c they make & spend more; but at the same time it doesn’t cripple new investors and new business (whom are typically middle and upper class).
The poor relying on welfare will not be negatively affected by a flat tax b/c they pay little to no taxes anyways. The flat tax doesn’t cause economic stagnation as the current (liberal) progressive tax achieved.
P.S. I agree with Duncan about unfairly taxing Google, I want money that I haven’t earned too!!!
P.S.S. Bunny is silly
August 8th, 2008 at 12:55 pm
Erick,
Here is the link to the FairTax website. And you an also read Neal Boortz’s book (I have a link on the right sidebar in my library. (Its the one with the line going through the IRS). The FairTax is better than even a flat tax, or a Value-Added Tax like most European countries use. Ofcourse, watch the class warfare types and
Democratscloset marxists gnash their teeth because the Evil Rich™ aren’t getting taxed in accordance with the Communist Manifesto.