Victory For Economic Sanity: Obama Expunges Windfall Profits Tax From Change.gov Website
Not the most transparent and honest way to announce a policy shift – you’d think the honest way to do it would be to make an actual announcement explaining why you’ve changed your mind – but at least we’re seeing a stupid idea put to the side.
President-elect Barack Obama has removed any reference of his promise to implement a windfall profits tax on the oil and gas industry from the Obama-Biden Transition Team website, www.change.gov.
Of course, Obama’s rabid followers who supported him (at least in part) because of stupid ideas like this one are now a little upset with him:
With the election behind him, President-elect Obama has failed to justify the removal of the windfall profits tax from his tax plan. The subtle and unexplained elimination of this issue from the Obama-Biden agenda should concern Americans from every background. The American Small Business League (ASBL) questions whether the sudden elimination of this issue is a further indication that large corporations are already demonstrating their ability to influence the Obama Administration.
This isn’t the hope ‘n change they believed in.
By the way, Obama has backed away from ending the Bush tax cuts. He’s appointed a team of, well, economic moderates to his administration. Now he’s backing away from a redistributionist tax policy that would have punished oil companies (and the millions of American workers invested in them) for being too successful.
Is Barry becoming a moderate? Or is this just a feint to appear more moderate so that he can advance his more liberal agenda under cover?
I believe the latter, but time will tell.
