Posted on 08/06/2008 8:58:12 AM PDT by WilliamReading
Any relief from Mr. Obama's plan would be temporary while compromising a reserve intended to protect against disruptions in supply caused by wars, boycotts and the like.
Making Exxon surrender money that is now falling into its lap would not necessarily affect its longer-term plans or incentives. Indeed, some of Big Oil's "windfall" already will go to the government: The more profit the companies earn, the more corporate income tax they pay. But to add a five-year tax increase on top of that to pay for a one-year gift to voters would, indeed, increase the cost of doing business. That cost would be passed along in forgone investment in new production, lower dividends for pension funds and other shareholders, and higher prices at the pump -- thus socking it to the consumers whom the plan is supposed to help. If oil prices fall, there might be no windfall profits to tax. Then the Obama rebate would have to be paid for through spending cuts, taxes on something else or borrowing.
When his presumptive Republican opponent, Sen. John McCain (R-Ariz.), proposed a gas tax holiday as a way to reduce the high cost of driving, Mr. Obama showed political courage and intellectual honesty by refusing to sign on to that obvious gimmick. "It's an idea to get them through an election," Mr. Obama said. Now he has two such gimmicks of his own.
(Excerpt) Read more at washingtonpost.com ...
I thought this was from the Washington Times, but it is indeed from the Washington Post. They have examined Obama’s flip flop on releasing oil from the emergency reserve and his $1,000 giveaway to each American , and they do not like what Obama is peddling.
The Washington Post is pretty independent and its editorials are worth reading. The New York Times is little more than a mouthpiece for the Obama campaign .
A) Stupid as the day is long to think that we won't end up paying for the rebate in higher costs.
or
B) He thinks we're stupid as the day is long for not being able to figure out that the $1000 he gives us will not got to the difference that fuel costs now, but will go to the difference in fuel price as a result of our $1000 check.
I think he's counting on B
I’ll go with “A”, Regis. Final answer.
Well, you see, it's actually perfectly logical since in Obo-land there will be no more wars. Also in Obo-land there will be no boycotts or shortages since He will talk his way through all of that with his immense powers of persuasion.
So the Post is turning on him too. Curiouser and curiouser. What IS going to happen in Denver?
lol.
Obama would require Reebok Pump sneakers so we could maintain proper air pressure.
Liberal as it is, the WaPo occasionally shows flashes of common sense like this. That’s unlike the NYT, of course, which is completely ‘round the bend.
}:-)4
Obama is stupid enough to think that we are all as stupid as he is.
Pelosi's stand on drilling is hurting Obama, as are his own flip-flops. People are starting to recognize his nasty liberal arrogance. People are asking the meaningful question "What qualifications does he have for the job?"
McCain is doing a very nice job of making Obama himself the main issue of the campaign.
When McCain mocks Obama in a humorous way it moves votes into McCain's column. McCain is comfortable with self-deprecating humor. Obama is thin skinned and humor impaired. Obama is a fake and it is showing through.
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