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Philosophia
June 11th, 2008, 07:37 AM
Obama says he would impose oil windfall profits tax

RALEIGH, North Carolina (Reuters) - Democratic presidential candidate Barack Obama said on Monday he would impose a windfall profits tax on U.S. oil companies as he sought political gain from Americans' pain over high gasoline prices.

Launching a two-week focus on the economy after clinching the Democratic presidential nomination, Obama drew a sharp contrast between his economic policies and those of John McCain, his Republican rival in the November election.

From here (http://www.reuters.com/article/topNews/idUSWAT00963020080609?feedType=RSS&feedName=topNews&rpc=22&sp=true).

Valnorran
June 11th, 2008, 09:09 AM
It boggles my mind how someone who promises to jack up the price of gas even more can even stand a chance in this election.

sarabethv
June 11th, 2008, 01:55 PM
*sigh*

Xander67
June 11th, 2008, 01:56 PM
lol, Yeah good luck with that one Mr Obama, lets see ya get congress to approve it.

HetHert
June 11th, 2008, 02:09 PM
For all those that see it that way, how is this a bad thing?

Valnorran
June 11th, 2008, 03:40 PM
For all those that see it that way, how is this a bad thing?
Is it going to lower gas prices? No. Will it raise gas prices? Yes. Will it harm those middle class people whose retirement and 401K plans are tied to stocks in oil companies? Yes. Seems like a hell of a price to pay just so economically ignorant people can feel good about sticking it to some corporate execs. It's also pretty hypocritical when you consider the government already gets far more money from oil than the oil companies themselves do.

Dark Phoenix
June 12th, 2008, 03:20 PM
The bottom line is that it won't change the fact that China and India crave more and more oil, or that production is for the most part maxed out. This is just pandering.

aranarose
June 12th, 2008, 03:25 PM
The bottom line is that it won't change the fact that China and India crave more and more oil, or that production is for the most part maxed out. This is just pandering.

Yeah, but the whole Bush-fiasco should show that pandering and enough money will get anyone elected. They do it because it works. Period.

Dark Phoenix
June 12th, 2008, 03:30 PM
Yeah, but the whole Bush-fiasco should show that pandering and enough money will get anyone elected. They do it because it works. Period.

Of course it works, hell he might even believe it but it's still a bad idea in my option. Bush scared people more then pandered to them because as we all know a vote for the Democratic is a vote for the terrorists. :rolleyes: