Posted on 12/04/2008 3:23:55 PM PST by bruinbirdman
During the campaign, Mr Obama repeatedly promised to submit oil and gas companies to a profits windfall tax, citing the disparity between their huge profits and the struggles of ordinary Americans.
In the summer he said the tax would "help families pay their heating and cooling bills and reduce energy costs".
But the proposal has been quietly dropped from his agenda listed on transition team website's www.change.gov, setting off a storm of protest among liberal bloggers and small business groups.
An aide explained the change by saying: "President-Elect Obama announced the policy during the campaign because oil prices were above $80 per barrel. They are below that now and expected to stay below that."
But the shelving of the proposal was spotted by the California-based Small Business League, which asked if "the sudden elimination of this issue is a further indication that large corporations are already demonstrating their ability to influence the Obama administration".
"President-Elect Obama owes the American people an explanation as to why these campaign promises have been pulled from his agenda," it said.
The League was also disappointed that Mr Obama has dropped a reference that expressed concern that federal contracts designated for small businesses were being awarded to major corporations.
Mr Obama's decision follows indications that he will probably go back on another pledge - to introduce higher taxes for those earning $250,000 (£165,000) or more a year.
David Sirota, writing on the liberal blog Campaign For America's Future, said: "It seems like the Obama team is buying into the right-wing frame that raising any taxes - even those on the richest citizens and wealthiest corporations - is bad for the economy."
Mr Obama's emphatic victory on Nov 4 had left many of his liberal supporters hoping, if not presuming, that he will fulfil the parts
(Excerpt) Read more at telegraph.co.uk ...
I’ve always wondered about the government windfall taxes they collect from the oil/gas companies ... and didn’t do a thing to earn it .....
Not the 1st.
Question for the left: Still think character doesn’t count...?
Oh he would if he could. But the price of oil has dropped way way down. There’s no profits for him to take. If it goes up again, he’ll swoop right in.
Dare we hope his isn’t a socialist, but just an opportunist? I guess an opportunist is preferable....in a choice between two devils.....
Just curious, I can't seem to recall the last "president elect" being given so much press about what he says he will do or won't do. Once elected, we never heard a thing about him or from him until GW took office on 1/20/2001.
Obama aint the president yet
Nor the last.. I don’t think the far left that supported him is going to be very happy by 12 comes around.
Technically, they’re not even windfall profits.
Well, I for one am SHOCKED, SHOCKED I tell ya!
Obama the RINO.
Interesting. It is looking more and more like O-bummer is a typical politician. Say anything to get elected and then “Keep all the promises you intend to keep.”
It's spelled center,not centre; don't the Brits know English??
Yep ... it’s what the liberal Demon-crats call it .... who says what is the definition of a windfall profit?
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
It’s coming. It will be under a different name, but make no mistake - it’s coming.
I believe P.T. Barnum can provide the explanation.
Wahahahahahahahhhaaaaaaaaaaa!( leftist whine)
I don't think real small businesses would object.
LOL!!
Boy, am I enjoying this!
The man proves over and over that he is an empty suit.
His fav expression will come to be, “Oops!”
Hey Yer Majesty, reality bites, eh?
For this, Obama is being criticized by the right? Hey, if things improve under this fella, by him listening, then I am for it. We need to make the best of what we have, while preparing for the future. If he does some important things right, then I support those actions.
Remember, the Republicans did us more damage in the last few years.. by bickering and inaction than any of the Dems in those years. These folks elected Obama.
Let us take the victories where ever we get them.
What windfall? Oil has dropped from $147 per barrel to $47 per barrel in less than 4 months. You can hear the sucking sound coming out of the Oil and Gas Industry. Bankruptcies will begin soon at these low prices because these idiots in congress have never had an intelligent energy policy—just “go after the money!” So they will create another shortage by taking away the incentive to drill. So we will increase our oil imports by another 10% in the next 2 or 3 years, and be having this same discussion.
How can the lying, lunatic, liberal left justify a “windfall” profits tax on a company with a 6% net profit (like oil companies), but not put the same tax on a company with a 60% profit margin (like retail jewelers)?
It would seem to be very easy for an oil company lawyer to argue such a left-wing scheme violates the 14th amendment. If our courts weren’t so corrupt the decision to such an argument would be obvious.
First off, what is so magic about $80 per barrel? Second, it is when prices are high that we need more supplies, and the oil companies need the profits to enable them to drill.
I bet this $80 becomes some magic number that comes up again in the future. It has come out of thin air, just like a FactChecked COLB.
True. I think they must have been talking about smugglers, pirates, and drug dealers.
Oboma will figure out a number of things as he prepares to pretend to be a real president.
“An aide explained the change by saying: “President-Elect Obama announced the policy during the campaign because oil prices were above $80 per barrel. They are below that now and expected to stay below that.”
Nobody, and I mean nobody, even OPEC can rightly predict what the price of a barrel of oil will be from day to day: this is BS and his campaign pledge was not based on economics, rather, it was based on “the environment”.
But this has GOT to be a record for a “broken campaign promise” and he ain’t even POTUS yet!
Now, let's talk about those abortion and gun control problems you've got.....
And when you're done with that, I got a few more for ya....
Oh, I just can’t WAIT to rub this in the faces of those guys at work who voted for Obama.
Things change, don’t they. I hope this continues.
I never thought he’d really go through with this. Democrats like to pick up this issue to pander, but the smarter ones (including Obama) know damn well that it’s a bad idea, which is why they never follow through on it. Only the true-blue morons like Barbara Boxer really want a windfall profits tax.
There will be no windfall profits with oil at $25/bbl.
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