Webloggin » The Check Is In The Mail

That’s what Barack Obama wants you to think … his $1,000 per family taxpayer stimulus package rebate checks could arrive in your mail box “as soon as this fall.” Debra J. Saunders asks, “Is there an income cap for how Obama defines eligible “working families?”

Free the oil - and other slick tricks

[snip]
Obama argues that his plan is fiscally responsible because he would pay for it by levying a “reasonable” tax on oil companies’ windfall profits. The candidate has pointed to Exxon Mobil’s record profits - $22.6 billion in the first half of this year - to justify his raid on its earnings.

Less reported, Investors Business Daily editorialized, are the record taxes Exxon Mobil paid in the same period - $61.7 billion. Also, “Exxon made a dime on a dollar in 2007. The oil and gas industry as a whole made 8.3 percent, compared with 8.9 percent of all U.S. manufacturing.” So why whack Big Oil?

According to Stanford economist John Taylor, who is a McCain adviser, raising taxes on oil companies likely “will raise the price of gasoline.”

House Speaker Nancy Pelosi released a top-10 list of “questions for the House GOP on Energy,”…

For instance, Question No. 5. asks: “Senator McCain missed two critical votes in the Senate to promote renewable and conservation. The American people have a right to know why he is putting the interests of Big Oil ahead of American consumers. Why is that?” [snip]

“If House Republicans are for ‘all of the above,’ why do you oppose efforts to protect consumers like price gouging and holding OPEC accountable for price fixing?” reads Question No. 6. (Fox)

Newt Gingrich said, “The more that (Pelosi and Senate leader Harry Reid) are clearly the anti-energy obstacles, the harder it is for Democrats back home to get re-elected.” The GOP is ready to shut down the government over drilling.

This article states “This is a debate that should happen, but whether it occurs later this year or next year won’t make much difference practically.“ That is just not true. Look how much prices have already dropped, partially because President George W. Bush called for drilling and because 75% of Americans are for drilling. Gas here this week was $3.53 per gallon for regular unleaded.

[Discuss This Topic with Debbie Hamilton]

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