Barack's Windfall Reversal

[bl33b]

Barack's Windfall Reversal


Here comes the 'change' part of his Administration.


One of Barack Obama's emerging political qualities is how casually he has been dumping the ballast of his campaign promises. The latest lousy policy to go over the side is a windfall profits tax on U.S. oil companies.



Throughout his run for President, Mr. Obama argued the industry deserved special taxation on its "excess" earnings. He planned to use the proceeds to fund an "emergency" round of $1,000 rebate checks for families. "It isn't right that oil companies are making record profits when ordinary Americans are going into debt trying to pay rising energy costs," he said. The sentiment featured in campaign ads and attacks on John McCain.
Mr. Obama never did offer a good or even particular reason for the oil majors to face this Carter-era inspiration -- apart from appeasing the populist furies. And he couldn't, either, given that multiple other industries profit more both in absolute terms and in returns on equity or sales. Nor could he account for the fact the tax confiscation would merely be passed along to the public in forgone investment in new exploration and production (and thus higher prices at the pump) or lower dividends.
Now with the election safely over, a transition spokesman explained this week that the drop in oil prices to $50 a barrel has made the windfall tax a dead letter. Left unexplained was why the oil companies suddenly decided to stop profiteering, or manipulating commodity prices, or whatever it was they were supposedly doing. But be thankful for small mercies. It is reassuring that Mr. Obama's calls to arbitrarily soak an unpopular business were merely rooted in political expediency, not some economic philosophy.


Well? whatcha think?

 

[jsn9333]

He always seems to have a wonderful excuse to go back on his word. What a hero. He's the type of man our children should look up to and aspire to become.

Barack's Windfall Reversal


Here comes the 'change' part of his Administration.


One of Barack Obama's emerging political qualities is how casually he has been dumping the ballast of his campaign promises. The latest lousy policy to go over the side is a windfall profits tax on U.S. oil companies.



Throughout his run for President, Mr. Obama argued the industry deserved special taxation on its "excess" earnings. He planned to use the proceeds to fund an "emergency" round of $1,000 rebate checks for families. "It isn't right that oil companies are making record profits when ordinary Americans are going into debt trying to pay rising energy costs," he said. The sentiment featured in campaign ads and attacks on John McCain.
Mr. Obama never did offer a good or even particular reason for the oil majors to face this Carter-era inspiration -- apart from appeasing the populist furies. And he couldn't, either, given that multiple other industries profit more both in absolute terms and in returns on equity or sales. Nor could he account for the fact the tax confiscation would merely be passed along to the public in forgone investment in new exploration and production (and thus higher prices at the pump) or lower dividends.
Now with the election safely over, a transition spokesman explained this week that the drop in oil prices to $50 a barrel has made the windfall tax a dead letter. Left unexplained was why the oil companies suddenly decided to stop profiteering, or manipulating commodity prices, or whatever it was they were supposedly doing. But be thankful for small mercies. It is reassuring that Mr. Obama's calls to arbitrarily soak an unpopular business were merely rooted in political expediency, not some economic philosophy.


Well? whatcha think?

 

[bradlyallen2]

He always seems to have a wonderful excuse to go back on his word. What a hero. He's the type of man our children should look up to and aspire to become.

Your right, Obama is awful. I would prefer my children embrace the politics of "Mission Accomplished", "I'm the decider", offshore torture prisons run by Haliburton, widespread anti-american sentiment, wars in middle eastern countries based on deceit and distortion and fabrication of supporting evidence, inability to lead at the presidential level, declaring a narrow electoral victory a "mandate", politics of hatred and division as espoused by Bush-Rove-Cheney, firing US govt employees who do not embrace republican party ideals, etc. That's the world I want my kids to grow up in, not the one where an intelligent president (elect) responds to current geopolitical problems in a reflexive and dynamic manner.

 

[bl33b]

Your right, Obama is awful. I would prefer my children embrace the politics of "Mission Accomplished", "I'm the decider", offshore torture prisons run by Haliburton, widespread anti-american sentiment, wars in middle eastern countries based on deceit and distortion and fabrication of supporting evidence, inability to lead at the presidential level, declaring a narrow electoral victory a "mandate", politics of hatred and division as espoused by Bush-Rove-Cheney, firing US govt employees who do not embrace republican party ideals, etc. That's the world I want my kids to grow up in, not the one where an intelligent president (elect) responds to current geopolitical problems in a reflexive and dynamic manner.

please prove that sir
by the way the supporting evidence we recieved was from Britain I would like to hear you flame them now....
typical liberal jargon.....
also what do you mean by politics of hatred and division? do you mean the 116 billion dollars spent by the Bush gov't for the aid for the needy? or the most money ever spent on education?

its also funny how if a republican were to 'respond to current geopolitical problems in a reflexive and dynamic manner' then he would be a liar or a flip-flopper but since its a dem its great....

 

[bradlyallen2]

please prove that sir
by the way the supporting evidence we recieved was from Britain I would like to hear you flame them now....
typical liberal jargon.....

The standard of proof as established by the Bush administration requires only that one utter a phrase aloud and it therefore becomes true,in light of that fact Dick Cheney has destroyed all supporting documentation in regards to prisoner torture (apparently waterboarding isn't torture...and as as far as intelligence to support the war in Iraq; one previously proven unreliable Iraqi informant said he had seen WMD and the Bush administration took it for gospel and purposefully made no attempt to corroborate this so as to maintain it's propaganda value. The non-profit and non-partisan Center for Public Integrity found that President Bush's administration made a total of 935 false statements between 2001 and 2003 about Iraq's alleged threat to the United States. On September 30, 2004, The ISG, under Charles Duelfer, issued a comprehensive report. The report stated that "Iraq's WMD capability ... was essentially destroyed in 1991" . No evidence was found for continued active production of WMD subsequent to the imposition of sanctions in 1991.

The problem with Republicans these days is that you believe in your own lies so vigorously it makes you a threat to your own country, that is why your party got soundly trounced on Nov 4th

 

[bradlyallen2]

please prove that sir


its also funny how if a republican were to 'respond to current geopolitical problems in a reflexive and dynamic manner' then he would be a liar or a flip-flopper but since its a dem its great....

Well no one is accusing Bush of responding to anything, that fucker disappeared months ago when the economic crisis that he spawned got kicked up in full gear. I repeat, he has gone off the grid on this as in incapable of providing leadership.

 

[moon47usaco]

Man the poor guy is not even in the job yet and ppl are already bashing... =0

I guess everyone needs a scape goat to throw under the bus... =]

Point being that ppl ALWAYS have a complaint with the president... Shoot the good ones and complain about the bad thats always my policy... =\

 

[bl33b]

I can't prove it as Dick Cheney has destroyed all supporting documentation...and as as far as intelligence to support the war in Iraq; one previously proven unreliable Iraqi informant said he had seen WMD and the Bush administration took it for gospel and purposefully made no attempt to corroborate this so as to maintain it's propaganda value. The non-profit and non-partisan Center for Public Integrity found that President Bush's administration made a total of 935 false statements between 2001 and 2003 about Iraq's alleged threat to the United States. On September 30, 2004, The ISG, under Charles Duelfer, issued a comprehensive report. The report stated that "Iraq's WMD capability ... was essentially destroyed in 1991" . No evidence was found for continued active production of WMD subsequent to the imposition of sanctions in 1991.

The problem with Republicans these days is that you believe in your own lies so vigorously it makes you a threat to your own country, that is why your party got soundly trounced on Nov 4th

conspiracy theorists unite, hahahhahaha

also who are the private supporters of the Center for Public Integrity?
and as far as the false statements go, where these statements known as false ahead of time? or is hindsight always 20/20?

do you not realize that democrats ruled the gov't from the thirties till the eighties and that everything including our educational system and programs for the needy went to the shitter during those times?

among There Board of directors are
HODDING CARTER III
CHARLES EISENDRATH
BRUCE A. FINZEN
BILL KOVACH
MICHELE NORRIS
SREE SREENIVASAN
MARIANNE SZEGEDY-MASZAK

all of which are obviously liberal and i dont know about the others

 

[ViRedd]

Dick Cheney has destroyed all supporting documentation in regards to prisoner torture.

Maybe the evidence can be found in Sandy Berger's socks.

Vi

 

[Cannabox]

The problem with Republicans these days is that you believe in your own lies so vigorously it makes you a threat to your own country, that is why your party got soundly trounced on Nov 4th

i think that is the problem with humans. all humans. reguardless of race, religion, or whatever else you want to make up to seperate one person from another. YOUR ALL FULL OF SHIT IF YOU THINK ANY POLITICIAN IS GOING TO BE THE ONE TO SAVE ANY OF YOU. The definition of a good politician is one that can lie to your face and get away with it. the best actor on the block wins. how long have we known this? FOREVER, why is this even a conversation, everyone knows obama and ANY PRESIDENT for that matter is NOT going to do what they PROMISED. it's just fact that it CAN NOT HAPPEN THE WAY THEY DREAM.

Reforming the government and placing responsibility back in the hands of individuals SHOULD be americas upmost priority. that leads to self reliance and a higher education for all. military/security and roads is all government needs to worry about. everything else is private industry. that is the way it should be.

if you cant work or make it, you die. unless you were so kind to people through your life, that they want to help you out in return for your kindness.. then hey.. you might not die and turn your life around or hang on to your last days a little longer..

we reward selfishness through social programs, it's parasitic.

look at obama's family. his relatives are living in complete squaller while he lives in some x number of rooms mansion, riding around in limos, while his kids goto the finest private schools. he talks about giving some help to ppl with less, but won't even help his own family? come on.. he's a capitalist/conservative by actions alone.

And we all know... keep the people dumb and happy. Keep throwing the dog a bone here and there and they will love you for life. But it wont make them self reliant or more intelligent.

Good Game. politicians.. ha!

Take some responibility for yourselves and do something to better your life if it sucks so bad. seriously.

 

[Silky Shagsalot]

i'm thinking the falling oil prices is part of the opec plan to ruin our economy. states rely on gas taxes for a large part of their income. now that the prices are dropping, our states economies are experiencing large profit losses that they weren't expecting. prices will go back up in a while.

 

[bradlyallen2]

i'm thinking the falling oil prices is part of the opec plan to ruin our economy. states rely on gas taxes for a large part of their income. now that the prices are dropping, our states economies are experiencing large profit losses that they weren't expecting. prices will go back up in a while.

Negative Ghostrider-the tax is a fixed amount, not a percentage of the total price.

 

[Silky Shagsalot]

^^^negatory!!!^^^ at least not in my state. it's big news in our state. we are hurting because of gas prices being down.

 

[Doctor Pot]

Barack's Windfall Reversal


Here comes the 'change' part of his Administration.


One of Barack Obama's emerging political qualities is how casually he has been dumping the ballast of his campaign promises. The latest lousy policy to go over the side is a windfall profits tax on U.S. oil companies.



Throughout his run for President, Mr. Obama argued the industry deserved special taxation on its "excess" earnings. He planned to use the proceeds to fund an "emergency" round of $1,000 rebate checks for families. "It isn't right that oil companies are making record profits when ordinary Americans are going into debt trying to pay rising energy costs," he said. The sentiment featured in campaign ads and attacks on John McCain.
Mr. Obama never did offer a good or even particular reason for the oil majors to face this Carter-era inspiration -- apart from appeasing the populist furies. And he couldn't, either, given that multiple other industries profit more both in absolute terms and in returns on equity or sales. Nor could he account for the fact the tax confiscation would merely be passed along to the public in forgone investment in new exploration and production (and thus higher prices at the pump) or lower dividends.
Now with the election safely over, a transition spokesman explained this week that the drop in oil prices to $50 a barrel has made the windfall tax a dead letter. Left unexplained was why the oil companies suddenly decided to stop profiteering, or manipulating commodity prices, or whatever it was they were supposedly doing. But be thankful for small mercies. It is reassuring that Mr. Obama's calls to arbitrarily soak an unpopular business were merely rooted in political expediency, not some economic philosophy.


Well? whatcha think?

Obviously, he said this when gas prices were $4.25 a gallon. Now that it's down to $2.00 or less, oil companies aren't raking in the dough anymore and don't have the windfall profits to tax, and average people are able to afford gas again. Being a good decision-maker means being able to change course based on new information, something that's been lacking in the White House for a number of years now.

 

[prie]

Well no one is accusing Bush of responding to anything, that fucker disappeared months ago when the economic crisis that he spawned got kicked up in full gear. I repeat, he has gone off the grid on this as in incapable of providing leadership.

great to know that you understand that this all stems from a 1999 Bill the DEMOCRAT William (can't fuck Monica enough) Clinton signed into law allowing credit lending institutions to not be accountable for lending to low return loans. That means he allowed for banks to lend to people who shouldn't have been lent to. Now they can't pay.

GO FIGURE.

 

[mistacurious]

this is why you shouldn't discuss politics on a date.....lol

 

[bradlyallen2]

great to know that you understand that this all stems from a 1999 Bill the DEMOCRAT William (can't fuck Monica enough) Clinton signed into law allowing credit lending institutions to not be accountable for lending to low return loans. That means he allowed for banks to lend to people who shouldn't have been lent to. Now they can't pay.

GO FIGURE.

"
Bush administration ignored mortgage crisis warnings

Proposals to halt risky loans killed, documents show

The Bush administration backed off proposed crackdowns on no-money- down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.
"Expect fallout, expect foreclosures, expect horror stories," California mortgage lender Paris Welch wrote to U.S. regulators in January 2006, about one year before the housing implosion cost her a job.
Bowing to aggressive lobbying... regulators delayed action for nearly one year.
http://www.rockymountainnews.com/news/2008/dec/02/mortgage-warnings-went-unheeded/?partner=RSS

If Bush had been busy behaving like a president instead of dancing around in his flight suit on the deck of an aircraft carrier with a "mission accomplished" banner while spewing tex-ass one liners like "we're gonna smoke em out of their holes" he might have understood that when someone hands him a document that reads: "Expect fallout, expect foreclosures, expect horror stories," in regards to mortgages what they actually meant was "Expect fallout, expect foreclosures, expect horror stories". I think that about sums up who's fault this debacle is.

 

[medicineman]

Barack's Windfall Reversal


Here comes the 'change' part of his Administration.


One of Barack Obama's emerging political qualities is how casually he has been dumping the ballast of his campaign promises. The latest lousy policy to go over the side is a windfall profits tax on U.S. oil companies.



Throughout his run for President, Mr. Obama argued the industry deserved special taxation on its "excess" earnings. He planned to use the proceeds to fund an "emergency" round of $1,000 rebate checks for families. "It isn't right that oil companies are making record profits when ordinary Americans are going into debt trying to pay rising energy costs," he said. The sentiment featured in campaign ads and attacks on John McCain.
Mr. Obama never did offer a good or even particular reason for the oil majors to face this Carter-era inspiration -- apart from appeasing the populist furies. And he couldn't, either, given that multiple other industries profit more both in absolute terms and in returns on equity or sales. Nor could he account for the fact the tax confiscation would merely be passed along to the public in forgone investment in new exploration and production (and thus higher prices at the pump) or lower dividends.
Now with the election safely over, a transition spokesman explained this week that the drop in oil prices to $50 a barrel has made the windfall tax a dead letter. Left unexplained was why the oil companies suddenly decided to stop profiteering, or manipulating commodity prices, or whatever it was they were supposedly doing. But be thankful for small mercies. It is reassuring that Mr. Obama's calls to arbitrarily soak an unpopular business were merely rooted in political expediency, not some economic philosophy.


Well? whatcha think?

Hey, it worked, the price of gas has fallen to 4 year lows. If he lowers a major expense for consumers, isn't that a good thing?

 

[jsn9333]

Who says if you don't embrace Obama, then you have to embrace the Republicans? The problem with this country is that most people think they have to support someone from one of the two controlling parties. What amazes me is that even people who those parties openly support putting in prison *still* vote for one of them.

That is some sick brainwashing right there.

Your right, Obama is awful. I would prefer my children embrace the politics of "Mission Accomplished", "I'm the decider", offshore torture prisons run by Haliburton, widespread anti-american sentiment, wars in middle eastern countries based on deceit and distortion and fabrication of supporting evidence, inability to lead at the presidential level, declaring a narrow electoral victory a "mandate", politics of hatred and division as espoused by Bush-Rove-Cheney, firing US govt employees who do not embrace republican party ideals, etc. That's the world I want my kids to grow up in, not the one where an intelligent president (elect) responds to current geopolitical problems in a reflexive and dynamic manner.

 

[misshestermoffitt]

It never occured to any nay-sayers that the oil companies are afraid of being taxed and that had the effect on gas prices we are seeing today? I think Obama scared them, they know he'll do it, he's got to clean up Bush's mess and that's not going to be cheap by any means.