Leftists of the World Unite on Windfall Oil Tax

To compete with Hillary Clintonâ??s pandering on a gas tax holiday, Barack Obama proposed a windfall profits tax on oil companies of his own last month. The Obama plan is not unlike the windfall oil profits tax passed by Hugo Chavez just two weeks earlier.

Obama would slap a 20% tax on the cost of a barrel of oil above $80 for all domestic oil companies. Chavez tax hits only foreign oil companies and charges a 50% rate for the cost of a barrel of oil above $70. The difference between Venezuelaâ??s dictator and Barack Obama is only a slight matter of degree.
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Amazing....this is the dude that Obama feels he can talk to on day one also. Leftist is a perfect term for the Obama's. :thumbsup:

Have a good one!:s4:

I still want to see the oild companies get hit the same way the small business and sole propriators get hit.... 30% on their *NET* profits.

I like seeing the greedy assholes get heavily taxed but in the real world all it would mean is we would be paying more for our gas. They just pass the added costs on to the consumer like every business does.

Obama is so dumb...

The tax won't do anything, but carry on to the customers, thus making things worse.

The fact is we are dependent on oil. There is an extremely limited supply, and increasing demand.

Making the price higher won't lower demand much, b/c we NEED to get around.


Better solns:
- fund development of alternate fuels (bioethanol anyone?, most modern cars can run on a mixture of bioethanol and gas)
- tax cuts for low consumption vehicles (How many people drive waaay too big SUVs and trucks in the city?)
- subsidize mass transportation (Almost every highly developed country has high speed railroads, we don't)

You can't solve our dependence of foreign oil overnight.

What Obama is doing is like instead of fixing a broken window on a car, he uses plastic foil and hopes it holds.

I can't believe the stupidity of goverments that have failed to finance proper research into alternative forms of energy.
I don't believe biofuels are the answer as they require too much land to produce and in the future with growing populations that land is going to be needed to produce food.
The dependancy of many on oil is a direct result of the lack of funding for research into alternatives and has handed oil companies thier massive profits , they should be taxed and a price fixed to prevent them passing on that tax to the customer.

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Originally Posted by P4B

The difference between Venezuelaâ??s dictator and Barack Obama is only a slight matter of degree.

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No shit to that.....