Here's yet another thing that scares me about Obama. He wants a windfall profits tax on oil companies. This is unsound economics and is another example of a politician who does not know economics proposing economic ideas because they are politically advantageous.
What he wants to do:
Quote:
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Obama proposes oil companies be taxed on windfall profits from oil sold at or above 80 dollars a barrel, and the revenue be used to help relieve the burden of rising prices on working people, according to his campaign.
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Here's a
column chastizing republicans for a similarly stupid proposal.
The feel good politically expedient thing to say (and something I believe he'd do as well) only makes the problem worse.