August 3, 2008
Only someone wedded to the idea the government can – and should – fix every one of society’s ills, could come up with an energy proposal like this one.
Barry Hussein Obama called Friday for a $1,000 “emergency” rebate for consumers to offset rising energy costs. After all, isn’t it government’s job to give you other peoples’ money for rising prices that rise in large part because of government restrictions, regulations and meddling with supply? Well, no. But that’s another point we’ll make elsewhere.
Did anyone bother to pencil out how much that will cost? Let’s roughly estimate that half of America’s 300 million people are “consumers.” Do the math: 150 million times $1,000 = $150 billion.
Hm. Now where would Barry get so much money to give away? Ah, he says he’ll take it from the oil companies by slapping them with a “windfall profits tax.”
Hm. Now where would oil companies get an extra $150 billion to pay their new tax?
Hm. Yep, that’s right. From you.
So, to recap we’ll quote the Wall Street Journal’s James Taranto:
“It doesn’t seem to occur to Obama that the oil companies would pass the ‘windfall profits tax’ on to consumers. What a great plan: You get relief from $4-a-gallon gas, and the only downside is $5- or $6-a-gallon gas!”
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