AND.... it's gone.
Posted on 05/26/2010 8:59:16 AM PDT by Starman417
"You never want a serious crisis go to waste"
The Gulf oil spill has provided a crisis for Democrats to seize upon. There are different ways in which they tale advantage of it. Obama's response to the crisis is to play golf. The Democrat Congress responds as it usually does- increase taxes.
WASHINGTON (AP) - Responding to the massive BP oil spill, Congress is getting ready to quadruple—to 32 cents a barrel—a tax on oil used to help finance cleanups. The increase would raise nearly $11 billion over the next decade. The tax is levied on oil produced in the U.S. or imported from foreign countries. The revenue goes to a fund managed by the Coast Guard to help pay to clean up spills in waterways, such as the Gulf of Mexico.
The tax would quadruple existing oil tax to 32 cents per gallon. Ostensibly, the money would be used for the clean-up of the Gulf oil spill. But it gets confusing. On one hand the article says
Lawmakers want to increase the current 8-cent-a-barrel tax on oil to make sure there is enough money available to respond to oil spills.
But in the next moment it says:
Read more at floppingaces.net...
Tax increases are what they’re good at.
Brilliant idea in the middle of a recession.
But I thought Democrats were against high gas prices. Oh wait, I guess that’s only when they can use them as a political bludgeon against a Republican president like say George W. Bush.
Only a complete idiot would propose a tax increase in the midst of a recession.
Do not forget gutting Defense. They are good at that too.
“Democrats seek to quadruple oil tax”
lower gas prices mean more people driving.
AND.... it's gone.
Which the oil companies will just pass on to the consumers.
an extra 24 cents a barrell is nothing, and if it raises $11 Billion in a fund for oil clean-ups that would be a good thing — except they are just taxing to collect more money to spend, nothing will be set aside.
They'll still be Big Polluter, but we'll have $11 Billion.
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