Hosanna in the highest
Obama's 'emergency' economic plan
By MIKE ALLEN Politico| 8/1/08 9:38 AM EST
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.”
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.
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.
McCain reacted to the surprisingly dour jobs report with a two-paragraph statement: "Across this country, Americans are hurting and today's job numbers are just the latest reminder of the economic challenges we face. ... Unlike Sen. Obama, I do not believe that raising taxes is the answer to our economic problems. There is no surer way to force jobs overseas than to raise taxes on businesses.”
Obama announced his plan for a windfall profits tax on oil companies on June 9 in Raleigh, N.C., as he launched a two-week economic tour after clinching the Democratic nomination.
Friday’s proposal says Obama “is proposing to offset the cost of his emergency energy rebates over the next five years by enacting a windfall profits tax on big oil companies.”
“Obama simply asks that big oil companies contribute a reasonable share of the windfall profits they receive from high oil prices over the next five years to pay for emergency assistance for families right now,” the campaign says.
Are we also supposed to feel sorry for those who invested their retirement funds in Phillip Morris (PMI)?
ReplyDeleteHow many trillions of dollars did the oil mafia steal and are still stealing from the American public to acquire their high profits and energy monopoly? Why not talk about that?
And how much are their retirement funds be worth when the US dollar becomes completely worthless because the economy can no longer function due to the multi trillion dollar debt incurred thru payment for oil imports?
ReplyDeleteCall it a tax rebate, since the spike in petroleum prices is a tax on every American consumer.
ReplyDeleteWhile the GOP sent their rebate check, last month, funded with borrowed money.
ReplyDeleteA tax on tomorrow.
At least Obama wants to bring those stimulous costs current, not settle them on my daughter and her children.
Granted, the Democraticly controlled Congress pass the last stimulous package, and it will pass the next.
But Team43 supported the give a way of my daughters future, and Mr Bush signed it into Law.
Mr Bush is now an advocate and supports off shore drilling, only recently rescinding the Executive Order, knowing full well it is a meaningless gesture.
Energy Policy will be determined by the next Congress, the GOP had its chance and did worse than punt.
The Republicans raised taxes on solar energy.
But you are correct, duece, the Government is going to redistribute property.
ReplyDeleteIt has been doing that for generations, now.
The scale and scope just keep enlarging.
"Government is going to redistribute property."
ReplyDeleteOnly what Obama proposes doesn't even amount to the interest owed on money the oil mafia took from the public purse.
Is the "oil mafia" is my retired mother, my 401k plan and any other person who invested money in American oil companies?
ReplyDeleteTHAT is who will pay for the Obama energy plan. As well as consumers. The taxes will be paid by oil consumers and shareholders, as the taxes will be passed on to consumers.
Will Obama and the Congress go after and get anything from AARAMCO? Hell no.
Obama is doing the only thing his people know how to do when they need something. Steal it from others.
God damned racist communists every one.
"God damned racist communists every one."
ReplyDeleteMaybe, but for now these God damned racist communists, are rather useful. As for your retired mother 401k plan, oil stocks are at an all time high. Now would be a good time to sell these, and reinvest the proceeds in solar and wind stocks.
Might want to do a morality check on theft and racism.
ReplyDeleteOil will always be needed for more than fuel. And I still want to see a solar powered aircraft. There will always be oil companies. Just won't be American oil companies, once they tell America fuck you, I'm moving offshore.
BTW. You sell those stocks, take simple income and you end up with a huge tax bill. We just went through that rapine.
No maybe on the communist racists.
"solar and wind stocks"
ReplyDeletecan you kindly link the solar or wind technology which will propel 18 wheelers up and down the interstate within the next decade or two
Rob Peter to pay Paul and you will always get Paul's vote. Do not forget the first time income tax was introduced it was only on the super wealthy. Walk down the redistribution path and the next will be taxes on fast food profits. I'll throw my own favorite in. An excess profits tax on the music, film, record and television business. Say something in the 95% range.
ReplyDeleteOnce the redistribution starts, it will go only to the newly defined needy.
ReplyDelete"Might want to do a morality check on theft and racism."
ReplyDeleteI'm ready whenever you are.
"can you kindly link the solar or wind technology which will propel 18 wheelers up and down the interstate within the next decade or two"
ReplyDeleteActually, Elijah, those are easier to engineer than regular family passenger cars.
"BTW. You sell those stocks, take simple income and you end up with a huge tax bill. We just went through that rapine."
ReplyDeleteThat's not my problem. Invest in treasury bills next time.
The needy will be mostly the least productive, herded by community organizers. They will be mostly drug users, brood sows (unwed mothers), sloths, slugs, work challenged and programmed federal and state droids.
ReplyDelete"They will be mostly drug users, brood sows (unwed mothers), sloths, slugs, work challenged and programmed federal and state droids."
ReplyDeleteSounds to me like a description of George W Bush.
Check the new ad at the top!!
ReplyDeleteBTW. You sell those stocks, take simple income and you end up with a huge tax bill. We just went through that rapine.
ReplyDeleteI'm in tune with that music. Except in my case it's real estate. I tried to explain this to Ash one time.
Gallup has the ponies running dead even today.
Nobody ever played Moses like Heston.
ReplyDeleteBy the way, just because an organism gives off light doesn't mean it's divine. There are all sorts of bottom feeding creatures in the sea that light up, too.
There isn't a chance in hell that Obama could come through on all these schemes without totally tanking the economy.
ReplyDeleteFrom Politico analysis of Obama's proposal:
ReplyDelete"TAKE THE EXCESS PROFITS OF OIL COMPANIES TO HELP WORKING
FAMILIES DEAL WITH ENERGY COSTS WITH NEW $1,000 REBATE CHECKS
AND ENACT A $50 BILLION PACKAGE TO SAVE 1 MILLION JOBS"
Take the excess profits?
It's the end of America as we know it when the Federal Government starts defining your excess profits .
Reading Obama's draconian plan you would think we are in the midst of the worst depression since the Great Depression.
ReplyDeleteIt's friggin' socialist to the core. I don't care what you think about the oil companies, what Obama proposed today is vile and no doubt unconstitutional.
Sadly, though we passed unconstitutional long ago. i.e. Kelo decision.
ReplyDeleteBe wary of "Emergency" declarations.
ReplyDeleteThey have been doing that for years, whit.
ReplyDeleteExcess income, always nice but the best is "unearned" income.
It's called progressive taxation and using the tax code to provide for the social good.
We've been doing it since before I was born. A tad late in the game to become upset with the idea of taxation with representation.
Here we are, supposed conservatives and patriots, complaining that the Congress will change the tax code, again.
Obama this, Obama that, go tell it to the Congress. That should be the focus of attention, not Maverick's last charge.
The conservatives have been bamboozled by Republicans, and have no one to blame but themselves.
Who was ever going to pay for the War in Iraq and the domestic circuses?
I recall many there at the BC telling us it was of little consequence, $120 billion USD to police Iraq each year. Well, fellas, it's time to pay the fiddler.
And his first cousin, too.
Here, in AZ, we're in a first class recession, do not let anyone tell you all otherwise.
The tasty truth
For 27 years, the state's collection of sales taxes had been a steadily rising number.
But it turned downward during the fiscal year that ended June 30, the latest sign of the state's bleak fiscal health, according to a report issued Thursday by legislative budget officials.
The result has already been felt by state agencies, which in May had to absorb a collective $1.3 billion cut in the state budget to reflect the falling tax revenues. Much of that belt-tightening translated into reduced travel, a hiring freeze and sweeps of unspent agency dollars.
Twentyseven years of uniterupted growth, until now.
Thursday's report showed that state sales-tax collections were down 2.3 percent in 2007-08, compared with the previous year. That marks the first year since 1981, when the state repealed the sales tax on food, that sales-tax revenues have declined, the committee reported.
ReplyDeleteThe two other taxes that underpin the state budget also posted declines for the 2007-08 fiscal year: Income-tax collections dropped 9.1 percent year over year, and corporate-income tax collections were down 20.1 percent.
The Republicans lit the trail, with a thousand points of Federal largesse, with nary a complaint nor a whimper.
ReplyDeleteNow the largesse will be redirected, to the constituencies of the winners.
Where the spoils always go
Or we admit the McCain spokesman Phil Gramm was right, and we're all a bunch of whiners.
ReplyDeleteAre we just a bunch of wimps and whiners, worried about the money.
Just suck it up and soldier on, until you just fade away.
There's a big difference between unearned income and excess income on the oil companies. One is taxed across the board and the other is targeted at specific companies. They both stink but one definitely smells more socialist.
ReplyDelete"BTW. You sell those stocks, take simple income and you end up with a huge tax bill. We just went through that rapine."
ReplyDeleteThat's not my problem. Invest in treasury bills next time.
Yeah, well you can take a solar array and stick it where the sun don't shine. :)
"It's the end of America as we know it when the Federal Government starts defining your excess profits."
ReplyDeleteThese are not regular profits. These are monopoly profits. And as such, these monopoly profits should be taxed a monopoly tax until such time that the monopoly is broken.
"Yeah, well you can take a solar array and stick it where the sun don't shine."
ReplyDeleteC'mon. I'm supposed to feel sorry for someone whining about all the tax they might have to pay on their obscene profit. What do you say to someone like that? Make less profit and you wont have to pay as much tax.
Pelosi and Company are making a big mistake closing down the Congress without doing something on energy. Making the House look like a third world institution. A congressman just interviewed on Lars Larson said there were 300 maybe more votes for this drilling and Pelosi turned out the lights. This is going to come back and bite them in the ass. Americans pay attention to how much it costs to fill up the tank.
ReplyDeleteDrilling for oil isn't wheat farming. You got to have big organizations. So what if the oil companies are making some big profits right now. They are the only ones that can deliver the product. Buy some Chevron stock, get in on the obscene profits, for you and your family.
ReplyDelete---
The answer to your sales tax decling, Rat, is to raise the sales tax.:)
A wheat farmer calls in from Kansas, where he is sitting in a tractor cab, watching the harvest. "How we gonna run these machines on solar and wind" he asks. Three combines, four trucks, couple of tracors. "How we gonna do it?" he asks.
ReplyDeletecan you kindly link the solar or wind technology which will propel 18 wheelers up and down the interstate within the next decade or two
ReplyDeletesoy & rape seed oil, plus a hugh number of other nitrogen fixing legumes that are great ground cover and reduce the need for insect poisons....
Diesel is a joke..
a waste fuel byproduct from making gasoline...
Mr Diesel designed HIS engine for peanut oil...
We can certainly take a CHUNK out of OPEC's ass with DOMESTIC OILS...
Dont forget refined chicken, pork and cattle fats...
"Drilling for oil isn't wheat farming. You got to have big organizations."
ReplyDeleteSo? Let them take financing from the banks like the rest of us. The general public doesn't owe these mafiosies anything. If anything, it is they that owe the public trillions of dollars in ill begotten subsidies on their obscene profits.
Bobal: There isn't a chance in hell that Obama could come through on all these schemes without totally tanking the economy.
ReplyDeleteThere's people going to spend $5,000 this winter for heating oil just to survive. That's $5,000 that's not going to be a new hot tub or a down payment for an SUV. That's what's tanking the economy.
But C-SPAN, which has no control over the cameras in the chamber, has stopped broadcasting the House floor, meaning no one was witnessing this except the assembled Republicans, their aides, and one Democrat, Rep. Dennis J. Kucinich (D-Ohio), who has now left.
ReplyDeleteLights Out
Sounds like a Latin American democracy to me.
So? Let them take financing from the banks like the rest of us. The general public doesn't owe these mafiosies anything. If anything, it is they that owe the public trillions of dollars in ill begotten subsidies on their obscene profits.
ReplyDeleteYou really feel that strongly about the wheat farmers, Mat?
Just pump up the air pressure in your tires, and quit whinning.
ReplyDeleteYou really feel that strongly about the wheat farmers, Mat?
ReplyDeleteNah, wheat farmers are cool. Was takin bout them mofo swine grazers, Bob. :)
Tax trial lawyer profits. It's only fair.
ReplyDelete...........................
Obama is doing a good job of calling out the GOP tactic of running "against" someone while being "for" nothing. McCain is coming off as a bitter little whiner, devoid of new ideas.
Six years of statist whoring and corruption with Maverick leading the pack on the worst ideas has rotted the GOP's putrid platform of deception from under their cloven-hoofed feet.
They have nothing to stand on. FedGov grew at twice the rate than it did under the Sink Emperor.
Tax increases due in 2010. No energy policy. FDRs and LBJs time bombs still ticking at an accelerated pace with GOP add-ons.
The Compassionate One, Lott and Delay. A legacy of missed opportunities, graft and lies.
At least Alito and Roberts saved the country from armed insurrection by ruling the 2nd Amendment means what it says.
This comment has been removed by the author.
ReplyDelete"Democracy is indispensable to socialism."
ReplyDelete- Vladimir Lenin
"C'mon. I'm supposed to feel sorry for someone whining about all the tax they might have to pay on their obscene profit. What do you say to someone like that? Make less profit and you wont have to pay as much tax."
ReplyDeleteAn 85 year old woman does without for her whole life to put money away so she won't be a burden on anyone. Makes 10% on her investment every year then sells stock to rearrange her portfolio, gets taxed like hell and a prick calls it "obscene profit"?
Some people just don't get it.
These are not regular profits. These are monopoly profits. And as such, these monopoly profits should be taxed a monopoly tax until such time that the monopoly is broken.
ReplyDeleteSorry Mat. I couldn't disagree with that statement more.
Those profits are the private property of the shareholders of those companies. Period. There are no additional adjectives that can be added that justify wholesale - government enforced at the end of an MP5 - theft from one group of citizens for the benefit - and votes - of another.
It is the real world example of three wolves and a sheep voting on what's for dinner.
Fuckin' democracy in action.
Yes we can, motherfuckers. YES. WE. CAN.
There are no monolithic Big Oil Companies out to do evil. Most of the existing public companies are the remnants of what has not been taken by totalitarian states.
ReplyDeleteThey are big natural oligopolies by the nature of what they do. They are no different from railroads or public utilities. They are not state owned but owned by millions of investors that bought their shares with after tax money. Taxing is taking of private money for a stated public use. It is called extortion is done by private organizations.
So called big oil companies have made the US and every other modern nation. They created the ability to distribute a product that allows for personal freedom in travel, where one chooses to live, and has greatly relieved the severe toil in labor and farming. The taxes on transportation far exceed the accumulated profits. Profit is a misnomer. Most of the money in "profit" is a rent on capital. That rent is itself taxed before it is used to purchase shares, taxed as corporate income and taxed again when distributed.
We lost the fucking war when we allowed the left to seize the school systems after the sixties. Lenin was no fool:
ReplyDelete"Give me four years to teach the children and the seed I have sown will never be uprooted.
- Vladimir Lenin
He was right and I for one misjudged the ability of the left to achieve their goals. It is very, very late in the game. I don't give a shit about McCain. I care less about the Republicans. I know that if Obama gets in with a Democratic Congress, every minority group will play tag team to strip the remaining meat off the carcass and it is check mate.
“Those profits are the private property of the shareholders of those companies. Period.”
ReplyDeleteOk, then the companies and shareholders should be made to pay the full cost of securing their commodity transport and profits. They want security for that oil, let them hire their own security guards, like everybody else does.
Obama is for and against everything:
ReplyDeleteST. PETERSBURG, Fla. (AP) - Democratic presidential candidate Barack Obama said Friday he would be willing to support limited additional offshore oil drilling if that's what it takes to enact a comprehensive policy to foster fuel-efficient autos and develop alternate energy sources.
Shifting from his previous opposition to expanded offshore drilling, the Illinois senator told a Florida newspaper he could get behind a compromise with Republicans and oil companies to prevent gridlock over energy.
Republican rival John McCain, who earlier dropped his opposition to offshore drilling, has been criticizing Obama on the stump and in broadcast ads for clinging to his opposition as gasoline prices topped $4 a gallon. Polls indicate these attacks have helped McCain gain ground on Obama.
don't vote
ReplyDelete"Makes 10% on her investment every year then sells stock to rearrange her portfolio, gets taxed like hell and a prick calls it "obscene profit"?"
ReplyDeleteYeah, 10% a year.
XOM (Exxon Mobil)
June 06 = $55/share
June 08 = $90/share
That’s 64% profit in 2 years, or 32% profit per year.
CVX (Chevron)
June 06 = $55/share
June 08 = $104/share
That’s 90% profit in 2 years, or 45% profit per year.
Mattie:
ReplyDeleteI gotta say buddy, you're sounding particularly, nah I won't say it. Bite my tongue.
"Makes 10% on her investment every year then sells stock to rearrange her portfolio, gets taxed like hell and a prick calls it "obscene profit"?"
ReplyDeleteThe tax rate on long-term gains was reduced in 2003 to 15%, or to 5% for individuals in the lowest two income tax brackets. Yeah, gets taxed like hell.
Whit,
ReplyDeleteTell me I'm not fair in my criticism.
Tell me I'm not being fair. Tell me that we need to artificially maintain the oil energy monopoly until the country goes belly up, and I'll stop. I wont say an additional word on the subject.
ReplyDeleteThe foreign national oil companies through OPEC might be a monopoly but the US oil firms certainly are not. It is OPEC and the market that set price.
ReplyDeleteUS oil firms return about 10% on investment to their stockholders. Nothing obscene there. Cargill and other agriculture companies have similar ROI. Want to windfall tax their "obscene" profits? Or would you refer the GM/Ford/Chrysler business model where they all lose $15 billion a quarter? How many investors are beating down their doors to buy stock?
If stockholders can't make a profit they will stop investing. Then what? Soviet planned economy? How well did that work providing food and other consumer goods?
My mother saved money to invest by turning the heat down to 60F in the winter, no AC in the summer, wore 10 year old clothes and hasn't bought new furniture in 30 years to save for retirement. A whopping $1200/month in investment income plus social security and a $500/month pension. She ain't living high on the hog. What right do the people have to take $60,000 of her capital and give it to others?
Fuck that!
And...this year her ROI is -14% so she is living off capital instead of interest. All because god-damned socialists decided to put people in houses they could never afford. Good job Bushes, Clinton and the fucking Congress of the US of A.
ReplyDeleteDEUCE...YEP...FEED OFF THE REMAINING CARCASS. You got it right.
What is this? Socialist Central?
ReplyDeleteMaybe we should have Hugo Run "Big Oil?"
They pay taxes on them profits, remember.
Obama or Hugo v Enron?
I'll take Enron every time.
Maybe Obama can hire Mat to determine "correct" profits for everyone?
Enron?
ReplyDeleteExxon!
What is the current federal, state and local tax load on energy? Government taxes oil company profit and then turns around and taxes us when we purchase products made from oil.
ReplyDeleteCan anyone say "tax mafia"? Talk about a monopoly, the government can throw your ass in jail and take all your stuff, even shoot you dead. Oil companies cain't do that.
Oh yeah, what we need to do right now is bleed the Oil companies...
ReplyDeleteIt's always interesting and often dishheartening to see how people or a couple or a nation handles crisis. Too often, nothing happens but finger pointing, rumor mongering and recriminations. That's not to say I'm above finger pointing especially when it comes the watermelons in Congress but when we get off in the weeds of the WTC and the oil oligarchies it becomes a "bit much" for me. In the midst of a crisis we don't need to discuss the complete overhaul of a system. That's the SOP of the world's dysfunctional malcontents. Fog the world with doubt and mistrust of its institutions until there is a crisis of confidence then grab power and control.
2019.11.27知名酒店經紀公司數據統計調查顯示，有39.6%酒店上班族認為本身工時過長。但也有52.4%大學生酒店打工認為工時剛好，滿意目前酒店兼差工作狀態。而調查對象中的制服店、便服店、禮服店、鋼琴酒吧、日式酒店、飯局、傳播等八大行業工作人員每天平均工時落在8.7小時，與目前勞基法規定的每周工作總時數不得超過49小時相去不遠。知名酒店經紀指出，有29.2%酒店兼職受訪者每個月「不用加班」，另有61.8%則每個月都要加班，而平均加班時數為20.6小時。又從「坐檯陪酒或色情之伴遊、伴唱、伴舞、顏射(精子射在臉上) 、口交口爆(精子射在嘴裡) 、戴套肛交進行交易專業精緻化等行為」交叉分析可以發現，擔任「酒店小姐」最難為，加班的頻率及時數，高居之冠，成為最辛苦的職場族群。
ReplyDelete