I hear Barack Obama has a plan help the poor with $1000 each.
From WorldNetDaily:
The full text of the plan is highlighted with subheads that read, "Take a Portion of the Windfall Profits from Big Oil and Put $1,000 in the Pockets of Working Families" and "Forcing big oil companies to take a reasonable share of their record breaking windfall profits and use it to help struggling families with direct relief."
There's just one little problem with Robin Hood's scheme: that money doesn't belong to him. It also doesn't belong to Congress. It also doesn't belong to the people he wants to give it to.
It belongs to the oil companies that produce and deliver a vital product to Americans. For the public school graduates out there, please allow me to point out that oil companies in America are private organizations, not government agencies.
If I looked at a successful business in town and came to the conclusion that this business, while operating legally, was making too much money, and I walked in and grabbed their money, and took it out in the parking lot and started giving it to people as they walked by, would I be a great man for doing that?
Or would I be a thief?
So why is it different when Barack Obama or some other politician steals the property from one private entity and gives it to another?
4 comments:
The allegory of the Robin Hood story is sometimes used to argue for government redistribution of wealth. In fact, the historical Robin Hood stole from the GOVERNMENT (the king and his agents) to give back to the poor, who were over-taxed.
Net profits of American oil companies average less than 10%. That's less that Microsoft, Pesi-Cola, McDonalds, NBC, Panasonic or Chicken-of-the-Sea tuna. As mentioned, taxes take the biggest chunk of the fuel dollar so how about we demand a rebate from Big Government from their "windfall profits?"
That's a very good point, Dr. Theo!
Thanks for the clarification.
There is a mega issue being overlooked by the critics of Obama’s Oil Confiscaton Tax proposal.
Namely, the Oil Producing States receive billions of dollars in oil production taxes and royalties. An Obama Oil Confiscation Tax would substantially reduce the taxes and royalties collected by the Oil Producing States.
Additionally, there are hundreds of thousands of voters in the USA who own mineral rights and are receiving royalties on the oil and natural gas produced from their properties. Under an Obama Oil Confiscation Tax, these individual royalty owners would see a substantial reduction in their royalty checks.
It is not only the Oil Companies that Obama wants to confiscate wealth!!!!!
An excellent point, Larry. Also, all of us who have retirement plans and mutual funds almost certainly are invested in American oil and stand to lose under Obama's 'generous' plan.
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