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Obama: Rebate on Energy Costs, Paid for by, "Big Oil"
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by politisite | August 1, 2008 at 10:23 am
962 views | 15 Recommendations | 17 comments
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Obama Proposes Rebate on High Energy Costs paid for by additional Oil company Tax
By Albert N. Milliron, Editor, Politisite.com, Iron Mill Interactive Media
The Democratic Presidential nominee, Barack Obama, who was dead set against Hillary Clinton and John McCain's Gas Tax Holiday, seems to have changed his tune with a twist and a shuffle.
Barack Obama came out today as part of his emergency economic package, part of which includes a Gas cost rebate. Today, we are actually coming off oil price highs, but the economy is in a slump as oil price increases causes everything that uses transportation to increase in price. It was also reported today on the major finance news networks that unemployment has reached a inter year high. Obama Proposes that "Big Oil" send rebate checks to consumers due to their staggering profits. What Obama doesn't share with his listeners is thatm "Big Oil" also pays staggering taxes to the U.S. Govenment and have created more jobs for American's each quarter.
Republicans are saying that Obama is pandering to the poor to get folks to the polls in November. The pharmaceutical prices for drugs have increased over 400% in the same time period, but Democrats receive most of their campaign funding from Pharms. "you never hear the term, "Big Drug Companies" by the democrats, says one leader. Republicans mention Obama's health care program has taken a back seat following his defeat of Hillary Clinton in the primaries.
Democratic presidential contender Barack Obama called today for the government to give consumers an immediate $1,000 rebate to offset the rise in energy costs.
The emergency checks are part of a revamped $50 billion plan Obama outlined today to give a boost to the slumping economy. The rebates shouldn't wait for the next president to take office, and Congress should act quickly, he said.
``You need immediate relief,'' Obama said today in St. Petersburg, Florida. The Illinois senator proposed paying for the energy assistance by taxing oil companies on their ``windfall'' profits.
The plan, which also calls for $25 billion to replenish the highway trust fund to repair roads and bridges and to repair schools, is largely a repackaging of initiatives Obama announced earlier.
The rebate initiative is ``pandering,'' said Lee Sheppard, a tax attorney with Tax Analysts in Falls Church, Virginia.
``Politicians are desperate to be seen to be doing something,'' Sheppard said. ``Sad that it has to involve tax law, but that is the main way government communicates with the middle class.
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Most RecentMost Recommended Comments (17)
at 11:35 on August 1st, 2008
Mr. Obama evidently does not understand free enterprise and our economy. He is naive and demonstrates he is only interested in pushing his socialist policies, which Americans have rejected time and time again.
Obama thinks taxes on the oil industry are not treated them and by any corporation as a "cost of doing business." Thus, any tax on any business will mean an increase in the prices of the products or services they provide. Barack Obama no doubt obtained his economics manual from a Cracker Jack box.
To understand Obama's ideology and his beliefs:
http://www.nextgenerationcorp.com/nextgenblog/
http://texasdarlin.wordpress.com/
at 14:17 on August 1st, 2008
politisite, I like this story. It's good stuff. An excess profits tax will not bring about a drop of new oil, and much more oil supply is what we need.
at 14:21 on August 1st, 2008
Thanks for the GS. Obama on economics. Now where does he think the extra taxes are going to come from. That 1000.00 will end up costing consumers 1200.00
at 18:49 on August 1st, 2008
Wrong, wrong, wrong. You don't need more oil. You need altneratives to oil. Jesus, how did the Right get so wrong?
at 14:38 on August 1st, 2008
The line of argument that Republicans are somehow the guardians of social responsibility is totally laughable. Bush's tax cuts are not in fact tax cuts but are really tax deferrals. His deficits are the largest in history. I can't believe anyone still takes this rhetoric seriously. Are you guys paid hacks or just has Fox erased your capacity for critical, rational thought?
at 15:27 on August 1st, 2008
First, I resent you questioning my journalism ethics. At NowPublic, you MAY attack the content. You May NOT attack the writer. This is not a blog but a news website, thus no one gets paid by any campaign as that would be unethical. Now regarding the facts, please point out, what is incorrect within the contents of the article so I may research and change it.
Thank You for your time to comment. Just please remember that simple rule.
at 15:45 on August 1st, 2008
I agree. One should not attack another NP member, nor threaten them. Wouldn't it be nice if that rule were actually followed by everyone?
at 18:52 on August 1st, 2008
Actually, maybe you can point out which parts are the "facts" first.
at 17:11 on August 1st, 2008
Slow your roll war. P. works very hard on his stories, they are full of facts not personnel insults. We respect all opinions even yours...
at 17:12 on August 1st, 2008
politisite, I like this story. It's good stuff.
at 17:40 on August 1st, 2008
You're right. What Obama should be doing is taxing carbon emissions that are a result of oil extraction and production. He could then pass those back through payroll or income tax cuts.
at 18:10 on August 1st, 2008
Tax, tax, tax, Amazing how many people think taxing is the answer..If Obama gets his hands on the money of the producers of wealth in America those producers will just stop producing.
at 18:40 on August 1st, 2008
Well, we know for sure, as if we didn't already know, the kind of thinking that characterizes Obama supporters, foreign and domestic. Tax the people who produce the energy that doubled man's lifespan and made the poorest American richer than the royalty of old. Where do they get this nonsense?
at 18:55 on August 1st, 2008
Everyone's entitled to their position. But damn, when it's the same old, tired, puerile, dogmatic, solipsistic shite, maybe it's time for you all start a Republican Circle Jerk forum on your own server. This crap is tiiiiiiiiiiiiiiiired...
at 19:02 on August 1st, 2008
Please you think "Bush lied" repeated thousands of times a day for 7 years isn't tiiiiiired? The Dem Jerk Forums own a few servers of the tiiiiiiired crap. daily kos might interest you...
at 20:38 on August 1st, 2008
LOL. Somehow you equate Bush's transgressions with...what exactly? That's what I thought...
at 08:01 on August 6th, 2008
A $1,000 rebate paid for by the oil companies will cause gass to go up at least $1.67 a gallon !
Its simple math. If the adverage person drives 12,000 miles a year in a vechile that gets 20 miles per gallon, they buy 600 gallons a year. To cover the cost of the $1000 on a 600 gallon purchase the cost would have to increase $1.67 a gallon plus admin costs.
Could go even higher, would he give the rebate to noncar drivers, people who car pool, share cars etc? The plan could cause gas prices to double as Obama tries to buy votes by forcing us to pay more at the gas pump !