I have said time and again, "If you rob Peter to pay Paul you will always have the support of Paul." Is this a sound economic policy or an effort to buy votes? When you think about who actually "owns" the oil companies, isn't it the stockholders? Aren't the stockholders Americans with their pension plans, investments and mutual funds? Talk about shooting yourself in the foot.
Larry Kopsa
(Politico.com) -- 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. Separately, Obama’s plan includes a $50 billion stimulus package that his campaign claims would save more than 1 million jobs. Half of the money would go to state governments, which are facing big budget shortfalls, and half would be used for national infrastructure, including replenishing the Highway Trust Fund, rebuilding roads and bridges, and repairing schools.
John McCain reacted: "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.”
