Here is Obama's plan to lay a $15 Billion tax on oil companies.
Bloomberg.com: News

Does the proposal show that Obama leans more toward capitalism, communism, or fascism? Why?

inthebox

Leans more to a DISASTER.

Selectively taxing profit!!! Whoa - isn't that what the British did to colonists with TEA?

Why not tax the "profit" in the entertainment industry? { Hollywood, pro-atheletes, meida owners, porn sites } or on hedge funds? or the jury verdicts that trial lawyers get?

Okay I'm big oil, the US government is making it very difficult to make money, I'll
quit and move to another more profitable field or go to another country. No one else is going to fill the vacuum because there is no money to be made.
Result - less domestic oil production. More dependence on foreign oil and higher prices.
- lost domestic jobs.


And what does Obama expect to use the "tax revenue," if any is realized, on?

George_1950

inthebox: "And what does Obama expect to use the "tax revenue," if any is realized, on?" Buying votes; what else is there?

tomder55

yes it was proven the last time our idiots we elect decided to tax "windfall profits" that domestic production dropped and we ended up importing more.