Obama’s New Ad Calls For “Windfall Profits Penalty” On Oil Companies
Because another big, fat tax on the oil industry will surely make fuel prices go down.
Here’s reality: When oil companies are taxed it isn’t really the oil companies that pay it. It’s us. Every single penny the oil companies pay to the government in taxes makes its way down to that per gallon price we see at the pumps. The more the oil companies are taxed, the higher that price goes. Period.
Here’s another reality: Oil is all we’ve got to keep this country running. As much as we might want it to be otherwise, there isn’t enough ethanol or wind energy or hydroelectric energy in the whole world to replace all the energy we get from oil. There just isn’t, so until some new technology or energy source comes along we’re stuck with oil. And making it more expensive with more taxation isn’t going to help anyone.
Obama is either so incompetent and economically illiterate that he doesn’t get this, or he does get it and he’s lying to us.
