You Obama worshipers can call this just another anti-Barack post if you choose, but this is the Obama's economic plan will bring.


Phony 'Emergency'

Quote:Stimulus: Barack Obama's newly unveiled "Emergency Economic Plan" is quite a document, sounding more like the rantings of an extremist fringe candidate than a serious contender for the presidency.

I've never thought of Obama as a mainstream candidate, leftwing socialist all the way.

Quote:Take his proposal to send every family a check for $1,000. Don't worry, he assures us, we won't have to pay for it. "Windfall profits from Big Oil" will pick up the tab — in this case.

Sen. Obama seems to be trying to take advantage of reports that Exxon Mobil reported record second-quarter income — indeed, the highest quarterly profit for any corporation ever.

But the reality is that as Obama and his equally unknowing friends push windfall taxes, Exxon Mobil has already given the U.S. a massive windfall. As economist Mark Perry has noted, Exxon Mobil will pay more taxes this year to the U.S. Treasury than the bottom 50% of all taxpayers — combined.

In the first half, Exxon Mobil's after-tax income rose 15% to $22.6 billion. A lot of money, to be sure, until you consider that Exxon Mobil paid $61.7 billion in taxes — also a record.

$62billion isn't enough taxes Exxon should pay at least $84.3billion!!! There is no excuse for a company making profits in a Socialist state, GO GET 'EM Barack!!!

Quote:We know this because it has been tried before. Jimmy Carter's windfall profits tax led to a 6% drop in domestic oil output and as much as a 15% surge in oil imports, according to the Congressional Research Service. Now, Obama wants to play it again.

The rest of Obama's plan is just as nonsensical. It would spend $50 billion on various kinds of stimulus, including $25 billion to help erase state government budget deficits. In other words, he'll reward profligate states and punish thrifty ones. This is "stimulus" only if you think stimulus is saving government jobs.

All you Obamaniacs say McCain is "W's" third term, well it's starting to look like Obama is Carter's second term 30 years later.

Put your seat belt on because if Obama wins we'll be driving over the speed bumps of socialism. With Obama as president, where's the ambition for big business to be profitable?