Saturday, April 30, 2011

Subsidies Going To Oil Companies - Obama's Socialist Scheme

As the price of gas approaches $5 a gallon, Socialist President Obama, is his desperate attempt to win re-election, is playing to his PEEP's as he calls for an end to the $ 4 Billion in subsidies going to oil companies.   What Obama is talking about is the ability of oil companies to write off their cost of doing business presumably to drill for more oil much the same as all companies write off their operating expenses to determine pre-tax profit.   It sounds good.  Of course, oil companies are very profitable because they produce a product that is vitally needed.   What Obama fails to tell the American people is that though oil companies earn Billions in profits, that they pay 40% of that profit in both federal and state taxes.   So, we should all be thrilled that oil companies make money because they are funding many government programs supported by the American people. 

Assuming Obama is right and that oil companies should pay even more of their profits in taxes, it might be OK if his plan was to use this additional tax revenue going to the government to pay down the $14.3 Trillion National Debt; but remember this is Socialist Obama.   Oh no, he wants to spend this extra $4 Billion dollars chasing wind mills providing even more subsidies than are already happening to fund "green" technologies that are not economically feasible today.   So, it will be more subsidies going to wind, solar and every other Socialist hair brained scheme that will result in higher energy cost and a lower standard of living for the American people. 

And, does any one really believe that the oil companies will actually pay more in taxes if their subsidies are eliminated.  That is not how it works.   The consumer will simply pay higher prices for all oil based products, which includes gas, plastics, paint etc. etc. etc.  That is exactly in keeping with Obama's Energy Scheme.   Obama's goal is to raise the cost of all carbon based fuel to make wind and solar feasible not because they have come down in price; but rather because carbon based fuels are so much more expensive. 

We have got to make Obama a one term President in 2012 and also sweep his Socialist pals out of office  by electing common sense Conservatives that are not out to bankrupt the United States and destroy jobs in our country.   The economy is now growing by just 1.8% in the last quarter.   China is growing by 8 or 9% each quarter.   I wonder why??   It is not just because China controls its currency as asserted by Donald Trump.   It is because China is doing everything possible to develop cheap energy to fuel its economy.  President Obama is a clear and present danger our to our nation.   This inexperienced, naive man does not have a clue how to create jobs.  In fact, Obama and his Socialist pals are all job killers. 

We have to take back our country in 2012 and 2014.  It is impossible to grow our economy by raising taxes and the cost of energy, Obama's plan.   We must sweep these Socialists out of office and send them back to the universities and think tanks that they came from by electing Conservatives who took and passed Economics 101 and that have worked in business with real life experience.   We must take back our country to prevent the bankruptcy of the United States.   We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren. 

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