Saturday, May 3, 2008

Windfall profits - Greevil rich

May 1 (Bloomberg) -- Democratic presidential candidate Barack Obama's proposal for a windfall profits tax on oil companies could cost $15 billion a year at last year's profit levels, a campaign adviser said.

The plan would target profit from the biggest oil companies by taxing each barrel of oil costing more than $80, according to a fact sheet on the proposal. The tax would help pay for a $1,000 tax cut for working families, an expansion of the earned- income tax credit and assistance for people who can't afford their energy bills. More here:

Uh-huh -- and where in the constitution does it define "windfall profit?" Do we have free enterprise in this country?

Look -- these oil companies have operated on the same 8-10% profit margin for 100 years -- they have stock holders who have been promised a return on their investment -- if the government steals their profits, they'll raise prices -- simple -- so the genius lib, Barack Obama will be stealing YOUR money instead. Seriously, what is so hard to understand?

If you're having a tough time with this concept, read this book "Eat the Rich, a Treatise on Economics." Click here to buy it you dumb lib.

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