Friday, August 01, 2008

Obama's $1k energy rebate just plain one of the dumbest things I have ever heard of

Barack Obama is merely pandering for votes by playing class envy. He has obviously never studied economics. This has got to be the dumbest thing I have ever heard of, and I have heard a bunch of idiotic proposals by politicians in the past.
Democratic presidential candidate Barack Obama on Friday called for a $1,000 "emergency" rebate to consumers to offset soaring energy costs amid fresh signs of a struggling economy with the nation's unemployment rate climbing to a four-year high.

Obama told a town-hall meeting the rebate would be financed with a windfall profits tax on the oil industry.

Click here for the whole story. There is no need for "emergency" relief. The idea of "windfall" profits is just plain fallacious. Furthermore, to abscond the profits of a legitimate corporation to redistribute the wealth is just plain communism. There is not hiding that concept; Obama is just plain endorsing full on communism.

The hypocritical part is that Obama flat out refuses to support the idea of offshore drilling to increase the supply of energy. You can not have it both ways. We would have lower energy costs and relief for consumers by having an increased supply. Simple economics dictate that increased supply equals lower cost. But Obama is apparently too blind to this by his communistic paradigm or is just too stupid to realize this. Perhaps he does know and is flat out lying for political gain, which is not beyond the scope of possibility, nay is probability.

1 comment:

Grandpa-Old Soldier said...

You know is is a bad situation wenn Wally World steps up to the plate.