Energy: Debunking The Unity Call That Obama & Clinton Were The Same!

PDOP ^ | 08/24/2008 | Jarid Brown

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Clinton's plan would be paid for by rolling back $30 billion of tax breaks over a ten-year period, and her Windfall Profits Tax would raise $20 billion over a ten year period. At the time of the primaries this sounded like a large amount, but today it pales in comparison to Obama's suggestions.

Obama's energy plan calls for a $500 immediate energy rebate costing (by his own figures) $75 billion dollars, plus a ten-year, $150 billion, investment into alternative energies. He would pay for the plan through a roll back of $30 billion in tax breaks over ten years, along with the imposition of a $15 billion PER YEAR Windfall Profits Tax. Uh-Oh...Now are you starting to see the difference? Clinton - $20 over ten years, Obama $150 billion over ten years! Ironically, Obama's $225 Billion plan still comes up short on the funding, but alas I will let you in on a little secret he doesn't want you to know.

Obama and his adviser's have consistently estimated that their WPT would raise $15 billion per year. That estimate was never based upon any hard numbers it was based upon their rhetoric that a tax equal to 10% of the oil company's $150 billion in profits would be reasonable. Yet, when you look at how Obama is suggesting we implement the tax, he has called for a 20%-25% tax on per barrel prices above $80 per barrel. Considering that this tax would be imposed on the $20 million barrels per day our country burns through, the tax at $120 per barrel would actually raise (theoretically, in nonsensical & no understanding of free markets world) ...

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Although this article was geared towards Clinton supporters who are considering abondoning the DNC and Obama, everyone here will find some interesting info on just how large Obama's WPT is.