ran 3.6 miles
Barack Obama has a brilliant plan to lower gas prices by increasing taxes, or ending current tax breaks, on big oil companies. This brilliant plan does nothing more than slow oil production and whatever money is taken from the oil companies is paid back to them through higher prices at the gas pumps.
This is nothing new and it is as bad an idea now as it was every other time it's been discussed in the past. Barack Obama and numerous members of his administration have openly stated they desire high gas prices, and what he is doing now is nothing more than posturing to appease frustrated Americans while, at the same time, getting exactly what he wants.
Whatever sum of tax dollars our government commandeers from big oil companies will most likely be wasted on something like Solyndra---and we will be paying more at the pump.
"Democrats have proposed 'raising taxes on American energy manufacturers —
something common sense and basic economics tell us will lead to even
higher prices at the pump,' said Senate Minority Leader Mitch McConnell,
R-Kentucky. 'Frankly, I can't think of a better way to illustrate how
completely out of touch they are on this issue.'"
from CNN article by Alan Silverleib
This effort to curb big oil tax breaks has virtually no chance of going through Congress and everyone, including our president, involved knows it. It is a farce that Democrats can use to say Republicans don't care about high gas prices and they refuse to do anything about them. Republicans will be able to argue that Democrats and Barack Obama are so out of touch with reality that this is the best idea they can come up with.
Both sides win while we continue to pay $5 billion per day to keep our government afloat. (Not kidding about that $5 billion per day to keep the federal government up and running---check it out here)
298.8 miles to go.
