Obama's 'emergency' economic plan

[headhuntersix]

Obama's 'emergency' economic plan
By MIKE ALLEN | 8/1/08 9:38 AM EST  Text Size:     
 
 
 
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.”

Details are in this six-page policy paper.

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.

“This rebate will be enough to offset the increased cost of gas for a working family over the next four months,” Obama said. “Or, if you live in a state where it gets very cold in the winter, it will be enough to cover the entire increase in your heating bills. Or you could use the rebate for any of your other bills or even to pay down debt

Separately, Obama’s plan includes a $50 billion stimulus package that his campaign claims would save more than 1 million jobs.


Obama announced his plan 27 minutes after a Labor Department report showed unemployment hit a four-year high of 5.7 percent in July — the highest rate since March 2004, when it was 5.8 percent.

“We need to do more,” Obama said in a statement. “That’s why today I’m announcing a two-part emergency plan to help struggling families make ends meet and get our economy back on track.

McCain reacted to the surprisingly dour jobs report with a two-paragraph statement: "Across this country, Americans are hurting and today's job numbers are just the latest reminder of the economic challenges we face. ... 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.”

Obama announced his plan for a windfall profits tax on oil companies on June 9 in Raleigh, N.C., as he launched a two-week economic tour after clinching the Democratic nomination.

Friday’s proposal says Obama “is proposing to offset the cost of his emergency energy rebates over the next five years by enacting a windfall profits tax on big oil companies.”

“Obama simply asks that big oil companies contribute a reasonable share of the windfall profits they receive from high oil prices over the next five years to pay for emergency assistance for families right now,” the campaign says
 

[headhuntersix]

What utter crap....Uncle sam already taxes 50% of BO's profits. What kind of message does this send to private industry. Make money, we'll tax u, and if ur really good, we'll keep taxing u. Let them drill off shore, drill in Anwar, build refineries etc. I would imagine if u have a product and the price keeps going up as supplies fall and u have a surplus of cash u can't do anything with, what exactly are u going to do. U can't replace supply at a huge rate, what exactly should u do. They can't drill offshore, can't go after new supplies....

This is his answer...tax them again. How about let them drill..build new refineries, build new rigs. It takes about 2 years to build a rig and sink it into the oil, if u have the spot picked out and ready to go. They have enough spot picked out....shut up and drill.

[youandme]

Oh, what about his idea on energy where "Americans should inflate their car tires to decrease gas consumption"

HH6 you want to borrow my tire pump?

[240 is Back]

HAHAHHAAHAAAAAAAAAAAAAAA AAAAAAAA

OBAMMERS is trying to buy your vote.  He knows a $1000 stimulation would feel damn good.

What can Mccain say now?  ANYTHING he says will be problematic. 

"I will not give you a stimulus check" - BUZZ, wrong answer.
"I will only give you 500" - What, you love us half as much as Obama does?
"I will also give you 1000" - Hi, copycat.
"I will give you $2000 " - Oh, the smartest men in the world say 1000, and you want 2000?" sure!

[headhuntersix]

Its not the check...but where its coming from.

Big Y...I'm getting a horse.

[240 is Back]

Its not the check...but where its coming from.

Big Y...I'm getting a horse.

hahahaha yeah it's total socialism.

Justice?  fvck yeah.  unethical?  of course.

Bush opened up the door by appeasing irresponsible banks who lent money to idiots then acted surprised when idiots couldn't pay the mortgage.  Bad business practices. 

Maybe Obammers figures if a republican like Bush can spend the public treasury on a private company sitll giving big bonuses to its CEOs, maybe he can take money FROM big biz and hand it to the public.

Messed up, but funny.

[headhuntersix]

Bush?...those practices came as aresult of Clinton and his economy...cheap credit etc. Besides how is it Bush's fault that people CHOSE to live beyond their means.

[240 is Back]

Bush?...those practices came as aresult of Clinton and his economy...cheap credit etc. Besides how is it Bush's fault that people CHOSE to live beyond their means.

Bush bailed out the banks who were stupid enough to lend to idiots.

Yes, clinton gave them the lophole, but bush should have easily closed it.  Instead, he let the predatory/idiot loans continue.  Can't fault him.  But you CAN fault him for bailing out the banks with public funds, then letting their CEOs keep their bonuses they got a month before decaring "give us $ or we kill the economy".

[headhuntersix]

Big oil will raise the price of oil...good job Barry