Obama proposes $1,000 energy rebates for consumers

[Martin]

Obama proposes $1,000 energy rebates for consumers


By MIKE GLOVER, Associated Press Writer
27 minutes ago



Democratic presidential candidate Barack Obama is calling for a $1,000 "emergency" rebate to consumers to offset soaring energy costs.

Obama says the rebate would be financed with a windfall profits tax on the oil industry.

"This rebate will be enough to offset the increased cost of gas for a working family over the next four months," Obama said in remarks prepared for delivery Friday at a town hall meeting in the crucial swing state of Florida.

Obama had earlier said the rebates should be part of a larger tax relief package. But now he says the slumping economy demands they be put in place immediately.

Obama's remarks coincide with the release of the latest unemployment figures, which show 51,000 jobs lost last month.




http://news.yahoo.com/s/ap/20080801/ap_on_el_pr/obama_53&printer=1;_ylt=AnXhnYn4VJ7Yz67zFPZw8Llh24cA

 

[Bad Hand]

That $1000 is coming out of the oil companies wind fall profits tax which actually is your 401K that is invested in the oil companies.

 

[Army Girl]

So, tell me what happens to prices when the profits of a company are taken away. The prices go up. DUH.

 

[Turnpike Jim]

This plan stinks of Socialism. I wonder; when their profits go down, will he then raise our taxes to compensate them? What a MORON.

Jim

 

[Worrier King]

But now he says the slumping economy demands they be put in place immediately.

Obama's remarks coincide with the release of the latest unemployment figures, which show 51,000 jobs lost last month.

If he does this the Corporate Execs will not only raise gas prices but lay off more workers and blame it on Obama as they also contrive more gas shortages.

This will also give the FED a excuse to print more ink-on-paper fiat currency to put into the system, giving it to the banks.

 

[Richard]

what everyone's going to get $1000? or just energy bill payers? or motorists? or who?
oil consumers only? business/homes? what about other types of power?


not been thought through

**** off obama

FOO

 

[Amaryllis]

Is it another tax rebate? IOW tax payers getting back more tax money they've paid in? If so, is there any left after our stimulous checks were sent out?

 

[readerb]

Maybe instead of proposing a $1000 rebate, he could cancel the $845 billion Global Poverty Bill (S2433) he's trying to push through..

 

[Wild-T2]

Is it another tax rebate? IOW tax payers getting back more tax money they've paid in? If so, is there any left after our stimulous checks were sent out?

From what I've heard, the FEDs borrowed the money for the last "tax rebate" from....................CHINA

 

[American Rage]

Vote buying! The mark of both a failed Republic and a booming dimocracy!

I'm holding out for at least $10K

Rage

 

[mbo]

what an ass


That will just drive more American jobs overseas, and do nothing but jack up inflation through the roof.

If Obama instead put a tax on imported oil he would do something even remotely logical. But economic logic is a foreign concept to a Leninist like Obama, and Obama does not want to do anything that would piss off the muslims.

 

[dstraito]

Gas Rationing

I guess he doesn't remember historically what happened the last time this was tried by Jimmy Carter.

I bet more than a few people on this board remember odd/even rationing and the energy crisis created by "Windfall Profit Taxes".

People that propose such a tax do NOT understand the economics or do not care and that is a destructive attitude to take.

 

[pixmo]

Maybe instead of proposing a $1000 rebate, he could cancel the $845 billion Global Poverty Bill (S2433) he's trying to push through..

Amen to that!

 

[fruit loop]

Yeah, $845 billion would help a lot of people in THIS country.

 

[mbo]

Yeah, $845 billion would help a lot of people in THIS country.

Nooooooo.


You're just reinforcing these Marxists who see no end to the growth of a massive central government.

It's ALL about control and power.

Leftists philosophy needs a strong slap upside the head.



.


.

 

[Worrier King]

Vote buying! The mark of both a failed Republic and a booming dimocracy!

I'm holding out for at least $10K

Rage

I hear you, if they want to stimulate the economy, lets get those money printing machines a cranking and start dishing out the dough. Everyone's still buying into the scam so no big deal, these guys can continue this fiat currency crap forever as long as people remain blind and clueless. All they need is ink and paper.

That anyone can still think this is a true capitalist economy missed the bus a decade or so ago..

 

[Moon]

They are on a bout a similar thing here in the UK......a windfall tax on the prifits that the oil companies have made........in my view this should go to those who most need it in the form of energy credits which can be spent on the company of your choice....ie your electric / gas company.........

 

[Grantbo]

Corporations don't pay taxes, hello! We do. If a tax is put on them, they will raise the cost of their product to 'pay' for the tax.

Obammas clearly shows his lack of basic economics.

And he want's to be pres?

 

[Tennessee gal]

Yeah, $845 billion would help a lot of people in THIS country.

That sure is the truth!!!!!!!!!!!!!!!

 

[Abert]

No free ride!

If Obama instead put a tax on imported oil he would do something even remotely logical.

All TAXES on oil are in the end paid by the consumer!

 

[mbo]

That sure is the truth!!!!!!!!!!!!!!!

How about they just let us keep $845 billion of our own money in the first place? Why do people fall for this notion that money must be sent to a couple square miles of a bureaucrat rat's nest before then sending it back (after burning through massive waste, of course)???!!!



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[Desertrat]

dstraito isn't the only one who saw what happened after a so-called "windfall profits" tax. Supplies went down, prices went up.

Why should Obama care? His travel costs don't come out of HIS pocket; they come out of ours.

Tax imported oil? All that would do would be to raise the price of gas, diesel, heating oil, plastic--and all the other myriad consumer products. And don't forget that higher transportation fuel costs means higher food prices.

 

[Troke]

Them oil companies got lots of money and there is no good reason why they shouldn't share.

And once sharing, it will never stop as everybody knows that the fair price of gasoline is $1.00/gal.