Posted by
Logical Party on Sunday, May 04, 2008 10:00:00 AM
We just had two major oil comanies declare $16 billion profit for the first quarter. And they get subsidies! Thats where the problem lies - they are gauging Americans on their monopolistic product (we can't live without).
Reinstitute the windfall profit tax. We will hear cries that it will harm oil companies ability to explore other energy alternatives, just as pharmeceuticals claim research and development needs (let them get private funding as with stem cell research - that will control that cost), but they had two decades and did NOTHING. It's a canard and a scam.
Oil companies will never jepardize or harm their revenue supply, and they are in bed with Middle East oil cartels, which causes us political harm. That is why government intervention is needed.
I would switch federal subsidies from Oil Companies to Detroit to force car makers to produce two models of hybrids. I would tell the Liberals in this country if you don't want war for oil, and you don't want us reliant on foreign oil, we need a concession to drill in Anwar (Alaska).
We don't need to bomb or engage any Mid East terrorist state - just cut off their revenue.
In addition, let the Oil Companies part with some of those billions to fund the educational needs of soldiers families. The same soldiers that protect their investment and revenue source overseas.
As for tax cuts or tax credits, its too late; The surplus budget inherited by this administration has turned into a $10 trillion deficit and we have no room to reduce tax revenues. We are taking our medicine and paying the price for massive, misdirected, irresponsible tax cuts.
Thanks George Bush!