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Obama's 'emergency' economic plan

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SkinsOrlando

SkinsOrlando

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http://www.politico.com/news/stories/0808/12237.html

Obama's 'emergency' economic plan

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By MIKE ALLEN | 8/1/08 9:38 AM EST

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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.

Half of the money would go to state governments, which are facing big budget shortfalls, and half would be used for national infrastructure, including replenishing the Highway Trust Fund, rebuilding roads and bridges, and repairing schools.

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.

Umm, stealing profits from companies for government re-distribution?? Geebus.

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909997

909997

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WTF Keep these coming Obama. Please.....

What is it with the robinhood syndrome? This whole stimulus thing kills me. WE DON'T NEED IT. I got my check and it went into my saving account. I honestly didn't need it.

you may not but iam sure many American citizens are struggling bad.

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Guest sith lord

Guest sith lord

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Yeah,for socialism

He just continues to confirm my misgivings. :2cents:

People are struggling, you think they care if it's socialism?

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sacase

sacase

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you may not but iam sure many American citizens are struggling bad.

So? I am sorry but they brought it on themselves. Buy more house than you can afford? Tough. Have to many kids? Should have wore a condom. Dropped out of high school? your own damn fault.

Why should we take money from oil companies profit just to help them for most likely their own stupid mistakes.

America....Land of the free....handout.

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willmb5

willmb5

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And this is just another shot of heroin, makes you feel good in the short-term, but do it enough and it'll kill ya.

Bingo. This is the furthest thing from any long term solution, but then again, this type of quick fix handout promise is the type of thing that could get him elected. If you always look for the quick fix, you will NEVER come up with long term solution, and we will be in a MUCH worse situation 5 or 10 years from now than we currently are.

This sounds like straight thievery if you ask me. EDIT: and I'm talking about the taking from "windfall profits" here

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JohnLockesGhost

JohnLockesGhost

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This sounds like straight thievery if you ask me.

"Legal Plunder" in the words of Bastiat.

Man can live and satisfy his wants only by ceaseless labor; by the ceaseless application of his faculties to natural resources. This process is the origin of property.

But it is also true that a man may live and satisfy his wants by seizing and consuming the products of the labor of others. This process is the origin of plunder.

Now since man is naturally inclined to avoid pain -- and since labor is pain in itself -- it follows that men will resort to plunder whenever plunder is easier than work. History shows this quite clearly. And under these conditions, neither religion nor morality can stop it.

When, then, does plunder stop? It stops when it becomes more painful and more dangerous than labor.

It is evident, then, that the proper purpose of law is to use the power of its collective force to stop this fatal tendency to plunder instead of to work. All the measures of the law should protect property and punish plunder.

But, generally, the law is made by one man or one class of men. And since law cannot operate without the sanction and support of a dominating force, this force must be entrusted to those who make the laws. This fact, combined with the fatal tendency that exists in the heart of man to satisfy his wants with the least possible effort, explains the almost universal perversion of the law. Thus it is easy to understand how law, instead of checking injustice, becomes the invincible weapon of injustice. It is easy to understand why the law is used by the legislator to destroy in varying degrees among the rest of the people, their personal independence by slavery, their liberty by oppression, and their property by plunder. This is done for the benefit of the person who makes the law, and in proportion to the power that he holds.

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twa

twa

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People are struggling, you think they care if it's socialism?

No ,I don't think they care much at all about anything but their own wants and needs.

Nor do I think half this country would object to true socialism.

But then I don't have a high opinion of people.

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BRAVEONAWARPATH

BRAVEONAWARPATH

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So? I am sorry but they brought it on themselves. Buy more house than you can afford? Tough. Have to many kids? Should have wore a condom. Dropped out of high school? your own damn fault.

Why should we take money from oil companies profit just to help them for most likely their own stupid mistakes.

America....Land of the free....handout.

What would you like to see done?

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Fergasun

Fergasun

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Did anyone see the Oprah show recently where they interviewed the homeless guy given $100k? Apparently Showtime made a documentary about it where they followed him around... it was actually pretty sad; the way that trainwreck's are sad.

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Cskin

Cskin

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Damn good idea IMO. They're squeezing the consumers' pockets and raking in record profits, **** 'em let them pay us for once.

You, my friend, should have kept this to yourself... choosing not to make us all aware how little you know about the subject.

The federal govt. makes more off a gallon of gas than the oil companies. I think if I remember correctly, oil companies make .08 cents a gallon of gas... and the federal and state govt. makes upward of .40 cents. Who's squeezing the consumers' pocket now?

Maybe the govt. should "pay us for once". :doh:

Liberalism and Socialism..the enemies within.

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Fergasun

Fergasun

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I was just flying through Burbank and they have HDTVs with ABC on. The story was really compelling. The thing that really ticked me off was that Oprah just kind've presented it as a train-wreck story... I'd rather have seen someone like Dr. Phil encourage the guy but it was presented as, "Even with $100k this homeless guy squandered it, homeless people are meant to be homeless..." when it was clear that he had emotional issues related to rejection and no one had really affirmed him as a human being.

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Cskin

Cskin

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I applaud the Obama campaign for showing their true colors... the quicker the non-braindead understand what a socialist this guy is... the quicker and with more authority they'll pull the lever in the voting booth for the candidate less likely to bankrupt our nation and send us spiraling into the same type of socialism that ruined the Soviet Union.

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