That is, did he ever actually say it was really a bad thing? Everything I ever heard from him simply said it was a distraction and wouldn’t help our problems with foreign oil and gas prices. (Which he still says).
I might be wrong though, it’s not an issue I’ve followed closely.
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Obama is pressed on the issue repeatedly on the campaign trail, but he refuses to budge, preferring to take pains to spell out his reasons. Here’s a good read on windfall taxes and why it’s silly to levy them against Big Oil
Posted by bruni
on August 24, 2008
What Is a ‘Windfall’ Profit? August 4, 2008 The “windfall profits” tax is back, with Barack Obama stumping again to apply it to a handful of big oil companies. Which raises a few questions: What is a “windfall” profit anyway? How does it differ from your everyday, run of the mill profit? Is it some absolute number, a matter of return on equity or sales — or does it merely depend on who earns it? |