Free Republic

Here's a little perspective on Big Oil's obscene profits. The first excerpt comes from left coast flagship Los Angeles Times, of all places. Their criticism of raising corporate taxes left me slack-jawed. They summed up the conservative position quite nicely:We hate spending $60 on a fill-up as much as the next person, but we don't think Exxon or its outsized profits should be the impetus for bad policy. As we've said before, it's a bad idea to pile more taxes onto oil companies for supposedly excessive profits. Exxon already faces a stiff tax bill -- nearly 50% of its...

As we close up a week wherein Sen. Barack Obama, D-Illinois, on the stump and in a TV ad accused rival Sen. John McCain, R-Ariz., of being "in the pocket of big oil," and doing the industry's bidding -- not to mention a week during which the Democratic National Committee launched an Exxon-McCain '08 website to drive home this Democratic talking point -- the non-partisan Center for Responsive Politics points out that the issue is a bit more complicated than it first would appear. McCain has received three times more money from the oil industry in general -- $1.3 million...