Semi-random ramblings from the ethereal edge of...ahh forget it.

Friday, August 01, 2008

Obama's emergency economic plan: anti-American or just utterly absurd?

First, read Obama's emergency economic plan that was just released today.

Now that you've read it, I ask this: is this plan anti-American or just utterly absurd?

Many on the Right would argue that it's both, and maybe they're right.

Obama's plan is a political ploy aimed at uneducated voters who, much like those on the Right who believed Bush's stimulus package would stimulate something, are prepared to believe most anything about the economy.

It is laughable, to say the least, to penalize oil companies for bringing in record profits. Obama's ploy would tax what he calls "windfall" profits and redistribute those funds back to consumers. It's a redistribution of wealth and, when packaged with those words, many Americans will recoil at the notion.

Now, as many of you know, I'm a harsh critic of big business by nature; but, something is wrong with this picture.

Oil companies provide for us a product that we want and at a price that we will pay. And for that right, they pay taxes to the government like any other business. Now Obama wants to redistribute their profit because, at least in his mind, they are makin too much money.

And sure, they are turning an historic profit; but, we're making great demands on their commodity.

This plan is laughable.

How about this: give taxpayers back a percentage of the money that is taken from them to subsidize an increasingly bloated federal government.

After all, the federal government has been at "windfall" status since the 1940s.

Bush's stimulus package hasn't had its intended affect, but at least the principle of giving back money that was taken in the first place is sound.

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