Obama Promised Every American A $1,000 Through A Windfall Profits Tax. Where Is It?

[Steve_McGarrett]

Just saying. In 2008, Obama promised every single American a $1,000 check funded by a Windfall Profits tax. He has yet to deliver on his promise. Now if Sarah Palin was president and she will if she runs against Hillary in 2016, I am sure she could deliver on a promise that would put money in the pockets of Americans. See here:

From the Wall Street Journal
What Palin Really Did To the Oil Industry - WSJ.com

Mr. Obama proposes to give each American a $1,000 check funded by windfall profit taxes to ease the pain of high energy prices. Some say Mrs. Palin's ACES is like that, because this year every Alaskan will receive a $1,200 check as a share of the oil bonanza. (The check comes in addition to the approximately $2,000 every Alaskan will receive this year as a dividend from the Permanent Fund, which was established by state constitutional amendment in 1976 as a way of sharing the state's mineral wealth with the people.)

 

[g5000]

Obama was pushing a windfall profits tax during the 2008 campaign when oil prices were skyrocketing and oil companies were reaping...windfall profits.

By the time of the election, the economy had crashed and oil had plunged to, what, 35 bucks a barrel?

Obama's transisition team pulled the windfall profits tax from his web site within a week after the election.

 

[Mr. H.]

Obama was pushing a windfall profits tax during the 2008 campaign when oil prices were skyrocketing and oil companies were reaping...windfall profits.

By the time of the election, the economy had crashed and oil had plunged to, what, 35 bucks a barrel?

Obama's transisition team pulled the windfall profits tax from his web site within a week after the election.

Define a "windfall profit" and how it would be calculated.

To help- you could look at Carter's "Windfall Profits Tax". When dissected it's exposed to have been neither a tax nor based on profits.

 

[g5000]

This is one of those political promise things that falls into what I call the Stupid or Evil category.

The whole country was up in arms over the sudden skyrocketing cost of gas. So Obama took advantage. Since the spike in prices was causing oil companies to reap huge profits, he went all populist on their asses and said if he was elected he would take those "excess profits".

Hillary made the exact same promise.

The thing is, the very definition of "windfall" means it is something that is sudden and passing. It is not a permanent situation.

So Obama was either really stupid if he believed the windfall would still be going on a year later (which is how far out one could realistically expect it would take for him to get elected and then enact a Windfalll Profits Tax), or he was evil, exploiting the ignorance of the voters.

Was he stupid...or evil?

I go with evil. You hang around political forums long enough, and you begin to see just how gullible people really are. Politicians, and their hack media outlets, absolutely depend on the creduluousness of their base.

 

[Steve_McGarrett]

It was US$82 a barrel in 2009. On 31 January 2011, the Brent price hit $100 a barrel and has hovered around that average during his first term yet he didn't ever impose the Windfall tax.


World oil market chronology from 2003 - Wikipedia, the free encyclopedia

 

[g5000]

Obama was pushing a windfall profits tax during the 2008 campaign when oil prices were skyrocketing and oil companies were reaping...windfall profits.

By the time of the election, the economy had crashed and oil had plunged to, what, 35 bucks a barrel?

Obama's transisition team pulled the windfall profits tax from his web site within a week after the election.

Define a "windfall profit" and how it would be calculated.

To help- you could look at Carter's "Windfall Profits Tax". When dissected it's exposed to have been neither a tax nor based on profits.

It was to be based on the price of oil. I think Obama was shooting at anything over 80 dollars a barrel at the time.

 

[g5000]

If you produce a product and your margin is, say, 10 percent, and your current operating cost is $100, then you sell the product for $110 and make a $10 profit on each unit.

If your costs go up to $200, and you maintain the exact same margin, then you sell the product for $220 and make a $20 profit per unit.

The next day, the liberal media begins screaming about your "record profits" and the demagogues go all populist on your ass.

Strangely, they are completely silent when your costs drop to $50 and you sell the product for $55 and make only $5 profit.

 

[hangover]

Obama Promised Every American A $1,000 Through A Windfall Profits Tax. Where Is It?

Cons whine about handouts, then whine about not getting one.

 

[JakeStarkey]

No, it is the far right that whines all the time.

 

[hangover]

No, it is the far right that whines all the time.

Hint...That's what cons are.

 

[Ame®icano]

Obama Promised Every American A $1,000 Through A Windfall Profits Tax. Where Is It?

Cons whine about handouts, then whine about not getting one.

For those who can't add two and two together, nobody asking for handouts. Whining is about our liar in chief promise. But again, what's else is new?

 

[hangover]

Obama Promised Every American A $1,000 Through A Windfall Profits Tax. Where Is It?

Cons whine about handouts, then whine about not getting one.

For those who can't add two and two together, nobody asking for handouts. Whining is about our liar in chief promise. But again, what's else is new?

...and then if you got your handout, you'd whine about getting it. Cheese with your whine?

 

[Ame®icano]

Cons whine about handouts, then whine about not getting one.

For those who can't add two and two together, nobody asking for handouts. Whining is about our liar in chief promise. But again, what's else is new?

...and then if you got your handout, you'd whine about getting it. Cheese with your whine?

The point is, there was never any handout he could give. Just lip service, empty promises and lies. Unlike you, some of us didn't fall for it.

 

[g5000]

Obama is not running for re-election.

Here is everything you need to know about Hillary Clinton and her position on windfall profit taxes, oil subsidies, coal, and everything else related to energy. This is from her campaign for President in 2007:

[ame=http://www.youtube.com/watch?v=pRZKpP8lIqA]HILLARY CLINTON TALKS FOREIGN OIL AND ENERGY - YouTube[/ame]

 

[Mr. H.]

If you produce a product and your margin is, say, 10 percent, and your current operating cost is $100, then you sell the product for $110 and make a $10 profit on each unit.

If your costs go up to $200, and you maintain the exact same margin, then you sell the product for $220 and make a $20 profit per unit.

The next day, the liberal media begins screaming about your "record profits" and the demagogues go all populist on your ass.

Strangely, they are completely silent when your costs drop to $50 and you sell the product for $55 and make only $5 profit.

95% of domestic oil and natural gas are produced by "Independent" companies, not major multi-national corporations. These Independents have no mechanism to maintain consistent profit margins. They also have no mechanism by which they can pass on increases in exploration, drilling, and production costs.

 

[g5000]

If you produce a product and your margin is, say, 10 percent, and your current operating cost is $100, then you sell the product for $110 and make a $10 profit on each unit.

If your costs go up to $200, and you maintain the exact same margin, then you sell the product for $220 and make a $20 profit per unit.

The next day, the liberal media begins screaming about your "record profits" and the demagogues go all populist on your ass.

Strangely, they are completely silent when your costs drop to $50 and you sell the product for $55 and make only $5 profit.

95% of domestic oil and natural gas are produced by "Independent" companies, not major multi-national corporations. These Independents have no mechanism to maintain consistent profit margins. They also have no mechanism by which they can pass on increases in exploration, drilling, and production costs.

Yes. I have relatives who work in the oil fields out in the Gulf and in the midwest. Job security is not in their vocabulary because of these factors. Its a life of feast and famine.