Posted on 08/01/2008 10:53:55 AM PDT by Free ThinkerNY
Barack Obama has released his “Emergency Economic Plan,” a clever mechanism that owes much more to Robin Hood than Milton Friedman. Obama plans to impose windfall-profits taxes on oil companies, and then redistribute the funds to taxpayers in the form of one-time rebates of $1000 per family. Obama also plans on spending an additional $50 billion, half of which will go to state governments:
Sen. Barack Obama (D-Ill.) on Friday announced an “Emergency Economic Plan” that would give families a stimulus check of $1,000 each, funded in part by what his presidential campaign calls “windfall profits from Big Oil.”
Details in this six-page policy paper.
The first part of Obama’s plan is an emergency energy rebate ($500 to individual workers, $1,000 to families) as soon as this fall.
“This rebate will be enough to offset the increased cost of gas for a working family over the next four months,” Obama said. “Or, if you live in a state where it gets very cold in the winter, it will be enough to cover the entire increase in your heating bills. Or you could use the rebate for any of your other bills or even to pay down debt[."]
The Obama campaign simply can’t keep its credentials as a Carter retread hidden. The windfall-profits tax got tried by Jimmy Carter in the last desperate months of his presidency as he tried to demonize oil companies for fuel price increases and shortages. The tax hit decreased domestic production and forced us to import more oil, and it did nothing to relieve weary consumers. Only when Reagan took office and eventually got the tax rescinded, along with other arbitrary tax disincentives towards domestic production, did fuel prices and supply stabilize.
The Congressional Research Service analyzed the Carter-era WPT and called it a complete failure
(Excerpt) Read more at hotair.com ...
Obamba is a robbing hood.
What a d**** bag.
Because paying twice as much or more in taxes than kept as profits, just isn't enough.
been there, done that
Anyone else see where this is going? Hello?......
Does this blithering idiot know that any tax will simply be passed along to the consumer??? Doesn’t he know that this will be a massive disincentive to further exploration and refinery building? Doesn’t he know his butt from a hole in the ground?
All of these communist democrats should be defeated badly.
We conservatives have got to begin to fight back for our heroes.
Robin Hood was a Conservative not, a Liberal! Why can I say that? Well, it’s like this. Bad King John and his friends were over-taxing all the poor peasant folks who eventually had next to nothing to eat or any money left over to purchase clothes, etc. for their families. All the fruits of their labor were in the King’s coffers. Now, that sounds a lot like the big-government liberal to me, not like the conservatives. So, why not take back Robin Hood as one of our own????
Community Organizer-been robbing the hood for a long time.
Nail, meet hammer.
I have often wondered why this view of stealing from the rich and giving to the por came from.
Robin Hood was stealing back the monies paid in taxes to the Sheriff of Nottingham who was the King’s Tax Collector. So in fact Robin Hood was giving the peasantry a tax cut.
FYI...
Alexander Fraser Tyler (1747–1813)
“A democracy cannot exist as a permanent form of government. It can only exist until {a majority of} the voters discover that they can vote themselves largesse {gifts} from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy {taxing and spending}, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years.”
Ayn Rand had some wonderful ideas for Robinhood...She refers to the “thieving poor” or something like that.
“..until {a majority of} the voters discover that they can vote themselves largesse {gifts} from the public treasury”
So when did this happen here? 1933? 1965?
This is the most disgusting display of socialism I've ever heard of in this country.
I did’t realize he was as left as I made him in my pic below but it seems fully accurate:
Somebody please Photoshop the New Orleans Heineken looter, but paste Obamessiah’s face on looter guy, and instead of Heineken, put cash in the box.
“obama as robin hood.”
more like hugo chavez.
..So when did this happen here? 1933? 1965?
Yes and yes!
And continuing in ever increasing increments that have accelerated in the last generation. This country is experiencing 3rd generation welfare/disability recipients. Appears that, for all too many, the concept of accountability/responsibility is for 'suckers'. I am not an unfeeling person, society does need to provide a safety net for the most unfortunate, for the truly needy.
But, witness the barely functioning, barely sustaining residents of New Orleans in the aftermath of Katrina. Could not care for their families, care for their welfare, yet absolutely knew how to pleat at the FED goverment for more 'largesse'.
Witness the current 'promises' of the various political campaigns.
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