Obama's 'emergency' economic plan

[Mrs Behavin]

Sen. Barack Obama (D-Ill.) on Friday announced an “Emergency Economic Plan” that would give families a stimulus check of $1,000 each, funded in part by what his presidential campaign calls “windfall profits from Big Oil.”

Details are in this six-page policy paper.

The first part of Obama’s plan is an emergency energy rebate ($500 to individual workers, $1,000 to families) as soon as this fall.

“This rebate will be enough to offset the increased cost of gas for a working family over the next four months,” Obama said. “Or, if you live in a state where it gets very cold in the winter, it will be enough to cover the entire increase in your heating bills. Or you could use the rebate for any of your other bills or even to pay down debt

Separately, Obama’s plan includes a $50 billion stimulus package that his campaign claims would save more than 1 million jobs.

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Half of the money would go to state governments, which are facing big budget shortfalls, and half would be used for national infrastructure, including replenishing the Highway Trust Fund, rebuilding roads and bridges, and repairing schools.

Obama announced his plan 27 minutes after a Labor Department report showed unemployment hit a four-year high of 5.7 percent in July — the highest rate since March 2004, when it was 5.8 percent.

“We need to do more,” Obama said in a statement. “That’s why today I’m announcing a two-part emergency plan to help struggling families make ends meet and get our economy back on track.

Obama's 'emergency' economic plan - Mike Allen - Politico.com

 

[Strauss]

Sen. Barack Obama (D-Ill.) on Friday announced an “Emergency Economic Plan” that would give families a stimulus check of $1,000 each, funded in part by what his presidential campaign calls “windfall profits from Big Oil.”

Details are in this six-page policy paper.

The first part of Obama’s plan is an emergency energy rebate ($500 to individual workers, $1,000 to families) as soon as this fall.

I have a question. If the oil companies suffer a loss of profits shouldn't they get the right to collect $1000 from every family in the US?

 

[gLing]

Is this even legal? Single out one industry because they had record profits?
Do we really want to downgrade the US into a European style socialism with high unemployment and poor economic growth along with more "voters" dependent on government hand outs?

 

[Strauss]

Is this even legal? Single out one industry because they had record profits?
Do we really want to downgrade the US into a European style socialism with high unemployment and poor economic growth along with more "voters" dependent on government hand outs?

An obviously intelligent woman. :thumbup

 

[Tim]

Although I do not agree with wind fall profit taxes on the oil industry for record profits, I am 100% for revoking all tax breaks and stopping the flow of our tax dollars to them. There are billions of dollars of our tax money going towards big oil. That needs to stop.

 

[Strauss]

Although I do not agree with wind fall profit taxes on the oil industry for record profits, I am 100% for revoking all tax breaks and stopping the flow of our tax dollars to them. There are billions of dollars of our tax money going towards big oil. That needs to stop.

Really? What are they? And do they apply to the oil industry only?

 

[Minor Axis]

Although I do not agree with wind fall profit taxes on the oil industry for record profits, I am 100% for revoking all tax breaks and stopping the flow of our tax dollars to them. There are billions of dollars of our tax money going towards big oil. That needs to stop.

Corporate well fare has been in full force. I was listening to an Obama speech on energy. He's got it exactly right and he's got a point, McCain has been around for all most 30 years and in the past he has voted down every alternate energy plan that's come by his desk. Drilling off shore might help in 7 years but even McCain admitted the proposal was mostly for psychological comfort. Drilling for more oil should not be the center piece of any energy policy. The idea is to get off fossil fuels, right?

Really? What are they? And do they apply to the oil industry only?

Are you saying the oil industry is not getting tax breaks? Lets see record profits, record prices on a vital commodity, gasoline that is adversely effecting the economy, no problem if you work for an oil company.

7.6 billion in tax breaks. I don't have a problem with royalties either. They can divert some of those record profits that are going right into oil executive pockets, back into the economy where it is really needed.

 

[Strauss]

Are you saying the oil industry is not getting tax breaks? Lets see record profits, record prices on a vital commodity, gasoline that is adversely effecting the economy, no problem if you work for an oil company.

7.6 billion in tax breaks. I don't have a problem with royalties either. They can divert some of those record profits that are going right into oil executive pockets, back into the economy where it is really needed.

Of course oil companies are getting tax breaks but then again so are you. And every other industry is getting tax breaks. You want to destroy an industry take away their tax breaks. Oil is a commodity just like any other commodity. As such a great deal of profit can be made and lost. You want to create a special tax when they are profitable but are you going to give the money back when they aren't? Yeah in a pig's eye. This "windfall profit tax" is a nice bullshit statement to justify screwing over an industry out of favor with the liberals. There isn't such a thing as "excess" or "windfall" profits, they are just profits. Answer me this, what is the cut-off for a windfall profit? In other words, what is the amount minus a dollar that isn't a windfall profit? And how do determine a windfall profit? Do we exclude the profit made on foreign investment in foreign oil companies? What about business profit made on non-oil related profit by the oil company? Do we exclude that?

BTW, 7.6 billion in tax breaks (most of which doesn't go to the major oil companies) is a piss drop in a bucket. You'll only be hurting the little guy, Exxon could give a shit.

 

[Strauss]

I was listening to an Obama speech on energy.

I think we have just identified why you are so confused.

 

[Alien Allen]

I think we have just identified why you are so confused.

Now that was funny :thumbup

Took me a while to figure out who you are.

where the fuck is the rest of your drivel

and how the hell did you come up with Strauss???

 

[Carthage]

Is this even legal? Single out one industry because they had record profits?
Do we really want to downgrade the US into a European style socialism with high unemployment and poor economic growth along with more "voters" dependent on government hand outs?

What do you mean legal? By US law? It became legal to slaughter the best and brightest and keep the country on the brink of destruction in the early nineteenth century. I imagine your name's on death row, or haven't they contacted you yet?

I have a question. If the oil companies suffer a loss of profits shouldn't they get the right to collect $1000 from every family in the US?

Flawless. Absolutely flawless. Especially when arguing with those "economic equality" types.




TO MR. OBAMA, REGARDING EDUCATION PLAN:

If you are going to give lower class families profits from big oil, how about we give failing kids points taken from the smarter kids tests?

Sincerley,
Carthage, Egoist1957, Devils_Advocate, Thadius, T-Dog, and Emperor2

 

[Minor Axis]

I think we have just identified why you are so confused.

Don't confuse confusion with disagreement.

You want to create a special tax when they are profitable but are you going to give the money back when they aren't?

BTW, 7.6 billion in tax breaks (most of which doesn't go to the major oil companies) is a piss drop in a bucket. You'll only be hurting the little guy, Exxon could give a shit.

Since when is taking away a tax break creating a tax? If it's a drop in the bucket then Exxon won't mind at all...

 

[Minor Axis]

I have another questin Minor and ANSWER THIS ONE. How do you propose we take away tax breaks for oil companies without doing it for other companies? In other words, are you proposing that we take away only tax breaks that apply to the oil industry only or all tax breaks? If the latter, how could you justify eliminating a tax break for only one industry? :confused

Seriously--give us some specifics of the Minor tax break elimination plan rather than regurgitating Obama rhetoric.

Dude, all we get from you is regurgitated pro-business, anti-labor rhetoric. You want specifics? Most of the discussions in these forums are philosophical and ideological in nature. As I'm not qualified to give specifics, I'm not inclined to. However I am qualified to pass judgment on who is qualified to run this country and it's not McCain. Feel free to throw out all of the specifics you want.

Not every sector in this country gets tax breaks. Usually they are given to strategic industries that the government deems worthy. Why don't you specifically talk about all the corporations who get tax breaks in the country and how they will be adversely effected if oil looses their breaks?

And while we are on that topic, I doubt seriously that Obama has even a cursory understanding of the tax code and how it works. Whatever he's proming, he's going to realize very fast he can't actually do it once he becomes President and he gets some economic advisors that actually explain it to him.

The self proclaimed expert on all the evils of your liberal America. Talk about vague partisan rhetoric, you're a pro.

The oil companies are making hundres of millions of dollars of charitable donations--that's a tax deduction--they deduct that from their gross income and don't pay taxes on the money they give away. Would you agree we should take that tax break away? If not, why not?

I think your loosing your mind.

 

[Alien Allen]

Aw come on Minor don't let the facts get in the way of reality.

Mulder has it right

And probably the fact you think in philosophy rather than to look at the facts tells us a lot about the Obamamania and how people make decisions on who to elect.

 

[Alien Allen]

BTW--is anyone feeling good about this bill that Congress passed (which Minor linked to) back in January of 2007? How much was gas then compared to now? Really effective at punishing the oil companies that was!

Every time Congress does something like this, it simply results in the cost being passed on to we the consumers. I'd rather the government get less money than we pay more at the pump.

Just like the tax the business mentality. hell businesses are loaded they can afford it. oh wait, businesses do not pay taxes. the liberals forget about that little problem. businesses treat a tax as an expense and who pays for it??

They won't like the answer because it does not square up with their philosophy :24:

 

[Minor Axis]

Aw come on Minor don't let the facts get in the way of reality.

Mulder has it right

And probably the fact you think in philosophy rather than to look at the facts tells us a lot about the Obamamania and how people make decisions on who to elect.

And tell me how did all the straight thinking, "educated" conservative business people in this forum pick the best President of the country's history for the last two terms? A complete idiot with no plan, other than taking care of friends and who could be taught to spout conservative slogans at the appropriate time and lie on que. :yuk I'm more than happy to look at facts, but excuse me if I don't take the local conservatives' fan club facts at face value.

Just like the tax the business mentality. hell businesses are loaded they can afford it. oh wait, businesses do not pay taxes. the liberals forget about that little problem. businesses treat a tax as an expense and who pays for it??

They won't like the answer because it does not square up with their philosophy :24:

Your absolutely right, businesses should pay no taxes.

 

[Alien Allen]

And tell me how did all the straight thinking, "educated" conservative business people in this forum pick the best President of the country's history for the last two terms? A complete idiot with no plan, other than taking care of friends and who could be taught to spout conservative slogans at the appropriate time and lie on que. :yuk I'm more than happy to look at facts, but excuse me if I don't take the local conservatives' fan club facts at face value.



Your absolutely right, businesses should pay no taxes.

hate to tell ya but some of your democrats must of voted for the dipshit also :24:

oh wait, I forgot Bush stole both elections. he paid off FL and the SC the first time.

Next time I am not sure what happened. lots of theories.

You lefties should get better candidates instead of liberal socialists. I might actually vote for one again. :unsure:

 

[Alien Allen]

Minor did you ever see the blog that Mark Cuban wrote about businesses and taxes. The guy is a billionaire and he is smart as hell. You won't like his ideas

 

[Strauss]

Your absolutely right, businesses should pay no taxes.

EXCUSE me while I talk specifics in a non-philosophic manner. Please tell me Mr. Obamanic which country has the second highest corporate tax rate in the world (and can you name the first). And despite that handicap this country has a GNP that DWARFS the rest of the world. China is not even close and never will be. Along come liberals lead by ObamaMessiah and will screw the pooch as sure as Mulder is ugly.

 

[Strauss]

Now which "tax breaks" are we going to take from the oil companies? Why don't we start with the tax break for charitable deductions? The oil companies are making hundres of millions of dollars of charitable donations--that's a tax deduction--they deduct that from their gross income and don't pay taxes on the money they give away. Would you agree we should take that tax break away? If not, why not?

My oldest daughter is majoring in psychology in college and this summer she got a paid internship working with schizophrenics (her people as she calls them) all paid for and sponsored by Exxon. Get that, an oil company is paying young adults to take care of the mentally ill. And some bastard wants to come along take my daughters internship away and leave the schizophrenics slobbering on themselves sitting in a corner. Obama....the bastard!