It is has just come to light, the Obama's pledge to enact a windfall profits tax on the oil companies has quietly been dropped from his economic agenda. This was not announced publicly, but just quietly removed. This broken promise along with his deciding that now is not the time to increase taxes on incomes over $250K from 36% to 39% marginal rate is disturbing. Did my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!
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Obama - broken promises
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Re: Obama - broken promises
I dislike broken promises, but I also think that now is not the best time to raise anybody's taxes. Even, and including, those who's taxable earnings are $250K or better. Especially considering the investments' losses that many people have had to endure because of our crummy economy.~ This is the strangest life I've ever known ~
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Here's this...
www.reuters.com/article/vcCandidateFeed2/idUSTRE4B206W20081203
But I'm still not happy.
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Re: Obama - broken promises
Originally posted by matapule View PostIt is has just come to light, the Obama's pledge to enact a windfall profits tax on the oil companies has quietly been dropped from his economic agenda. This was not announced publicly, but just quietly removed. This broken promise along with his deciding that now is not the time to increase taxes on incomes over $250K from 36% to 39% marginal rate is disturbing. Did my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!
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Re: Obama - broken promises
Originally posted by matapule View PostIt is has just come to light, the Obama's pledge to enact a windfall profits tax on the oil companies has quietly been dropped from his economic agenda. This was not announced publicly, but just quietly removed. This broken promise along with his deciding that now is not the time to increase taxes on incomes over $250K from 36% to 39% marginal rate is disturbing. Did my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!stay forever young
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Re: Obama - broken promises
Originally posted by matapule View PostIt is has just come to light, the Obama's pledge to enact a windfall profits tax on the oil companies has quietly been dropped from his economic agenda. This was not announced publicly, but just quietly removed. This broken promise along with his deciding that now is not the time to increase taxes on incomes over $250K from 36% to 39% marginal rate is disturbing. Did my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!
Yes, I know the "big, bad" oil companies were making record profits this past year. But with the world economy already mired in a recession, even the petroleum firms cannot escape the effects of deflation. Obama and his economic advisors are smart enough to anticipate and look at the conditions ahead.This post may contain an opinion that may conflict with your opinion. Do not take it personal. Polite discussion of difference of opinion is welcome.
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Re: Obama - broken promises (or not?)
Oil prices have dropped 66% in the past few months, from over $150 per barrel to under $50 per barrel, and we've all seen the drastic price drops at our gas stations. So perhaps Obama's mere announcement of the plan to put in that windfall profits tax is part of what caused the oil prices to drop?
I think calling this a broken promise may be premature evaculation.
EDIT: See what Frankie wrote one minute before my post here. Well done, FM!.
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That's my story, and I'm sticking to it.
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Re: Obama - broken promises (or not?)
Originally posted by LikaNui View Post/snip
I think calling this a broken promise may be premature evaculation.
/snip
In my years of watching politics, I haven't ever seen one politician keep to ALL promises that were made on the campaign trail. He/she can say one thing and with forces out of their control has to change it.
It is politics as usual as it seems now but everything still remains to be seen....
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Re: Obama - broken promises
When there aren't windfall profits, it's hard to institute a windfall profits tax. Unless people want it applied retroactively? I don't see this as a broken campaign promise. However, if the oil companies start gouging again -- as they were urged to do under the Bush administration -- the pressure will be back on Obama to live up to that promise.
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Re: Obama - broken promises
I miss ol' bammy once again
and I think it's a sin.
Berber, duna,-da, berber, duna,-da, berber,,, budalidadudalida
ah you know the rest.
Just keep pressin' ol' Bammy to pound the solar panels and the windmills. Tax breaks for big business, small business, houses, condos, grass huts, gopher holes. Just plaster it with panels. And give the silicone/panel makin guys lots of tax breaks too.
Full blown, dollar for dollar, with contractor bonuses to make damn certain they put it on every house. And architect bonuses, so they draw it on every plan. And automaker bonuses for every car that works on electricity.
I mean just really start to blow it out of the park, crazy style. Money talks.
Screw big business cuz u know they gonna pitch a bitch.
And after 8 years, start a punishment program that includes tax increases, assessment increases, and other punative administrative costs...for everybody...even joe homeowner who ain't gettin on the program.
For America, Ol' Bammy could do what Ike did. 50's = transportation. Today = power.
That legacy would last 60+ years, just like Ike's roads.Last edited by timkona; December 3, 2008, 09:27 PM.FutureNewsNetwork.com
Energy answers are already here.
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Re: Obama - broken promises
Originally posted by Frankie's Market View PostYou need to pay attention to what's been going on economically. When Obama was talking about imposing the windfall profit tax, that was when the price of crude oil was on the increase, eventually peaking at $147 per barrel. Last time I checked, it had dropped to $47.
Despite what the price of oil is or was, Obama could still enact a windfall profits tax that would go into effect when oil climbs back to a certain level. That is called being proactive and sends a strong message to the economy. How do I know that he won't do that iin the future? Because the proposal has been quietly dropped from his economic program without any public announcement. He and his staff know that he is renegging on a key piece of his platform.
This is going to be interesting.Peace, Love, and Local Grindz
People who form FIRM opinions with so little knowledge only pretend to be open-minded. They select their facts like food from a buffet. David R. Dow
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Re: Obama - broken promises
Originally posted by matapule View PostDid my vote mean that I was voting for more politics as usual? Obama better give a darn good explanation!
Yes, I truely believe you voted for politics as usual. And that would apply if you had voted the other way as well.
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Re: Obama - broken promises
Originally posted by LikaNui View PostSo perhaps Obama's mere announcement of the plan to put in that windfall profits tax is part of what caused the oil prices to drop?
Originally posted by buzz1941 View PostWhen there aren't windfall profits, it's hard to institute a windfall profits tax. Unless people want it applied retroactively.
Yes, a windfall profits tax can be applied retroactively for the current fiiscal year. It's done all the time, even to taxpayers like you and I. And yes, you can enact a windfall profits tax even if there is no windfall profits at this time. It would apply to any windfall profits in the future. That type of legislation sends a very strong message.
If Obama made an error with regards to his idea for a windfall profits tax on oil, then he should come out publicly and admit his error. Why drop it from the platform with no public announcement? It just smells really bad, like rotten fish. I expected more from him.Peace, Love, and Local Grindz
People who form FIRM opinions with so little knowledge only pretend to be open-minded. They select their facts like food from a buffet. David R. Dow
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Re: Obama - broken promises
Originally posted by acousticlady View PostOh Pleeease....... Did you honestly think he was going to change things - even before he gets into office?
It didn't matter who was elected.
The explanation is......... those in charge won't let him do that.
Yes, I truely believe you voted for politics as usual. And that would apply if you had voted the other way as well.
I think I'll go take a walk on the beach and ponder whether "is that all there is?" (thanks Peggy Lee)Peace, Love, and Local Grindz
People who form FIRM opinions with so little knowledge only pretend to be open-minded. They select their facts like food from a buffet. David R. Dow
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Re: Obama - broken promises
Originally posted by matapule View PostThat premise is not substantiated by a history of Presidential leadership. And BTW, who do you think IS in charge?
We can’t be so fixated on our desire to preserve the rights of ordinary Americans.
— U.S. President Bill Clinton
USA TODAY, page 2A
11 March 1993
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